| Fri 23 Jan 2009, 9:00 | | ANG - AngloGold Ashanti Limited - Anglogold Ashanti announces mineral resource |
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ANANO
ANG - AngloGold Ashanti Limited - Anglogold Ashanti announces mineral resource
increases at Tropicana
AngloGold Ashanti Limited
Incorporated in the Republic of South Africa
Registration Number: 1944/017354/06)
ISIN Number:ZAE000043485
JSE Share Code: ANG
("AngloGold Ashanti/Company")
ANGLOGOLD ASHANTI ANNOUNCES MINERAL RESOURCE INCREASES AT TROPICANA
AngloGold Ashanti Australia Ltd is pleased to announce a Mineral Resource
increase for the Tropicana Gold Project in Western Australia.
The Tropicana Gold Project, located 330 kilometres east north-east of
Kalgoorlie, is part of the Tropicana Joint Venture, which is 70% owned by
AngloGold Ashanti Australia (the manager) and 30% by Independence Group NL.
The Measured, Indicated and Inferred Mineral Resource for the project is now
75.3 million tonnes grading 2.07 grams/tonne for 5.01 million ounces of gold.
This represents an increase of approximately 1 million ounces from the first
Mineral Resource estimate released for the project in December 2007, and the new
estimate is predominantly in the Measured and Indicated category, providing a
higher level of confidence.
AngloGold Ashanti Australia`s share of the upgraded resource is 3.51 Moz.
The Mineral Resource has been identified within a US$1,000/oz optimisation shell
at an AUD:USD exchange rate of 0.80. This is equivalent to an Australian dollar
gold price of A$1,250/oz. A cut-off grade of 0.6 g/t has been used for oxide and
transitional material and 0.7 g/t for fresh material.
Tropicana Mineral Resource Statement (100%)
Classification Tonnes (Mt) Grade (g/t) Contained Gold (Moz)
Measured 19.9 2.38 1.53
Indicated 31.0 2.06 2.05
Inferred 24.3 1.83 1.43
Total 75.3 2.07 5.01
Drilling completed subsequent to the Mineral Resource estimate has resulted in
high grade intersections outside of the Mineral Resource shell in the Havana
South area, including 10.0 m @ 3.74 g/t Au from 101m and 5.0 m @ 22.5 g/t Au
from 120m in TPRC990 and 10.0 m @ 10.1 g/t Au from 139m in TPRC991. Drilling
scheduled for early 2009 is likely to result in further additions to the Mineral
Resource in this area.
The Mineral Resource increase has been driven predominantly by extensions to
mineralisation identified by ongoing drilling, particularly at Havana, and to a
lesser extent by increases in the gold price.
A new mining plan and schedule is being developed to incorporate the increase in
Mineral Resource. Pre-feasibility work at the project, based on mining the
Tropicana and Havana deposits, is expected to be completed in the June quarter
this year. This study is examining a range of treatment rates between 5.5-7.0
Mtpa, which would produce between 250,000 - 420,000 ozpa over a mine life of 10
-15 years.
ENDS
23 January 2009
JSE Sponsor - UBS
Queries Contact
Australia :
Andrea Maxey - General Manager Corporate
Tel: 08 9425 4603
Mob: 0400 072 199
Email: amaxey@anglogoldashanti.com.au
The information in this report that relates to Mineral Resources is based on
information compiled by Mark Kent, who is a full-time employee of AngloGold
Ashanti Limited, and a member of the Australasian Institute of Mining and
Metallurgy. Mark Kent has sufficient experience which is relevant to the style
of mineralisation and type of deposit under consideration and to the activity
which he is undertaking to qualify as a Competent Person as defined in the 2004
Edition of the `Australasian Code for Reporting Exploration Results, Mineral
Resources and Ore Reserves`. Mark Kent consents to the inclusion in the report
of the matters based on his information in the form and context in which it
appears.
Date: 23/01/2009 09:00:01 Produced by the JSE SENS Department.
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