| Tue 10 Feb 2009, 10:22 | | AFO - Aflease Gold`s Modder East Intersects First Reef |
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AFO
AFO
AFO - Aflease Gold`s Modder East Intersects First Reef
Aflease Gold Limited
(Incorporated in the Republic of South Africa)
(Registration number 1984/006179/06)
JSE Share code: AFO
ISIN: ZAE000075867
International Prime QX (OTCQX): AFSGY
("Aflease Gold")
AFLEASE GOLD`S MODDER EAST INTERSECTS FIRST REEF
Johannesburg, 10 February 2009 - Aflease Gold today announced that its Modder
East gold mine development on the Witwatersrand had begun to expose reef ahead
of schedule.
The company said development in the return airway had intersected the Buckshot
Pyrite Leader Zone (BPLZ), commonly known as the Black Reef. Development will
now continue on reef in the return airway heading for the position of borehole
DD1 from where the first raise will be developed.
Chief executive Neal Froneman described the reef intersection as a very material
milestone in the development of the mine.
"It is a great tribute to the entire technical team that the development has
been so accurately targeted with such a robust geological interpretation. It is
also pleasing that we have been able to claw back some of the time we lost when
we decided to use the more extensive full face cover method while developing
through the water-bearing dolomites" he said.
The shallow, high-margin Modder East mine is scheduled to produce its first gold
in the fourth quarter of this year. Its processing plant is already nearing
completion and will soon start processing ore from Aflease Gold`s nearby Sub-
Nigel mine.
For further information contact Neal Froneman, chief executive, on +27 83 628
0226
Issued by Aflease Gold Limited
Website : www.afleasegold.com
FORWARD-LOOKING STATEMENT: This news release includes certain "forward-looking
statements" and "forward-looking information". All statements other than
statements of historical fact included in this release including, without
limitation, statements regarding future plans and objectives of Aflease Gold and
BMA Gold are forward-looking statements (or forward-looking information) that
involve various risks and uncertainties. There can be no assurance that such
statements will prove to be accurate and actual results and future events could
differ materially from those anticipated in such statements. Important factors
could cause actual results to differ materially from Aflease Gold and BMA Gold`s
expectations. Such factors include, among others, the actual results of
exploration activities, actual results of reclamation activities, the estimation
or realisation of mineral reserves and resources, the timing and amount of
estimated future production, costs of production, capital expenditures, costs
and timing of the development of new deposits, availability of capital required
to place Aflease Gold and BMA Gold`s properties into production, conclusions of
economic evaluations, changes in project parameters as plans continue to be
refined, future prices of gold and other commodities, possible variations in ore
grade or recovery rates, failure of plant, equipment or processes to operate as
anticipated, accidents, labour disputes and other risks of the mining industry,
delays in obtaining governmental approvals, permits or financing or in the
completion of development or construction activities, Aflease Gold and BMA
Gold`s hedging practices, currency fluctuations, title disputes or claims
limitations on insurance coverage, Although Aflease Gold and BMA Gold have
attempted to identify important factors that could cause actual results to
differ materially, there may be other factors that cause results not to be as
anticipated, estimated or intended. There can be no assurance that such
statements will prove to be accurate as actual results and future events could
differ materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking statements. Aflease
Gold and BMA Gold do not undertake to update any forward-looking statements that
are included herein, except in accordance with applicable securities laws. No
stock exchange, securities commission or other regulatory authority has approved
or disapproved the information contained herein.
Date: 10/02/2009 10:22:12 Produced by the JSE SENS Department.
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