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VIL
VIL
VIL - Village Main Reef Gold Mining Company (1934) Limited - Village`s drilling
programme on the Lesego Platinum Project intersects Merensky Reef at
significantly shallower depths
Village Main Reef Gold Mining Company (1934) Limited
Incorporated in the Republic of South Africa
(Registration Number 1934/005703/06)
Share code on the JSE: VIL
ISIN: ZAE000007720
("Village" or the "company")
Village`s drilling programme on the Lesego Platinum Project intersects Merensky
Reef at significantly shallower depths
- Potential to significantly realise time and cost savings once in production
Village today announces that initial results of a shallow exploration drilling
programme on the Lesego Platinum Project, have identified the potential for
shallower resource ounces. Initiated to investigate and delineate shallow
Platinum Group Elements resources on the project, the drilling programme
identified the first reef intersection of a well mineralised Merensky Reef over
a thickness of 1.48m at a depth of 943m below surface.
The reef thickness discovered is comparable to those identified in both the
independent Competent Person`s Report and the Scoping Study report that was
completed in September 2010.
Bernard Swanepoel, CEO of Village commented, "The discovery of a shallower
mineralised reef at depths of less than 1000m elevates this project from a good
platinum project to a potentially great one and will realise significant time
and cost savings during the project development and production phase. The
shallower reef intersection has given the project more confidence and is a
perfect complement to the excellent widths of 1.47m on the Merensky Reef, grades
of 6.43g/t and base metal credits that have already been identified in the
Merensky and UG2 reefs."
Further drilling will continue in the demarcated area while awaiting the assay
results for these initial reef intersections. Village will release an updated
resource statement once assay results have been received and analysed.
Bryanston
19 January 2011
JSE Sponsor
Macquarie First South Advisers (Pty) Limited
Contacts:
Louise Brugman
Vestor, Media and Investor
Relations
louise@vestor.co.za
011 787 3015 (office)
083 504 1186 (mobile)
Date: 19/01/2011 11:17:01 Produced by the JSE SENS Department.
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