| Thu 15 Sep 2011, 8:00 | | CRD - Central Rand Gold Limited - Completion of double void study |
|
CRD
CRD
CRD - Central Rand Gold Limited - Completion of double void study
Central Rand Gold Limited
(Incorporated as a company with limited liability under the laws of
Guernsey,
Company Number 45108)
(Incorporated as an external company with limited liability under the laws
of South Africa,
Registration number 2007/0192231/10)
ISIN: GG00B24HM601
LSE share code: CRND JSE share code: CRD
("Central Rand Gold" or the "Company")
COMPLETION OF DOUBLE VOID STUDY
On 29 March 2011, Central Rand Gold announced that it was encountering what
appeared to be unrecorded mining voids in areas previously believed to have
been unmined.
Central Rand Gold has spent a significant amount of time and energy
internally investigating these mining voids (termed Composite Double Voids)
in order to fully understand the reasons behind their occurrence and to
provide a means to their detection and prediction.
Central Rand Gold is pleased to announce the completion of these studies
("Internal Study") and can confirm that the incidence of Composite Double
Voids appears to be limited to very specific areas and conditions, and that
the general prediction of their occurrence is possible.
It appears that the development of these Composite Double Voids is limited
to areas where the entire Main Reef, Middling and Main Reef Leader package
is particularly high grade and in addition, has a particularly thinly
developed Middling.
Using a combination of grade distribution, isopach models and historical pay
limits, it is possible to isolate areas of the greatest potential for
Composite Double Voids and, further, to compare the impacted areas with the
remaining unaffected areas.
It is estimated that the impacted area for 0 to 450 metres below surface
represents less than 5% of the total Resource base for such depth range
within the Consolidated Main Reef leasehold. Furthermore only an estimated
38% of the impacted 5% is believed to represent areas of Composite Double
Voids.
As the total combined impact of Composite Double Voids as determined by this
Internal Study is less than 3% of the area affected, it is not deemed
necessary to adjust the Main Reef Mineral Resource base. The Composite
Double Void model, as described above, will be used in future mine planning
and will be considered an additional modifying factor in any future Reserve
computation.
The Internal Study, combined with the results of the trial conventional
mining (to be completed by end September 2011), and the current engagement
with Department of Water Affairs to further understand the proposed interim
water solution for the Central Basin, all form part of the Central Rand
Gold`s strategic review in re-assessing its future prospects. This re-
assessment is expected to be completed by end October 2011.
A full report of the Internal Study, as prepared by Mr Keith Matier, is
available on the Company`s website: www.centralrandgold.com.
NOTE:
The information in this statement relating to Mineral Resources and geology
has been reviewed and approved by Mr Matier, BSc (Hons), GDE, Pr Sci Nat,
who is a competent person in terms of the SAMREC and JORC codes. Mr Matier
is the Geology Manager of Central Rand Gold South Africa (Proprietary)
Limited and has over 17 years` experience in precious metal exploration,
mineral resource management and evaluation.
For further information, please contact:
Central Rand Gold +27 (0) 11 674 2304
Johan du Toit / Patrick Malaza
Evolution Securities Limited +44 (0) 20 7071 4300
Chris Sim / Neil Elliot
Merchantec Capital +27 (0) 11 325 6363
Roger Pitt / Monique Martinez
Buchanan Communications Limited +44 (0) 20 7466 5000
Bobby Morse / James Strong
Jenni Newman Public Relations
(Proprietary) Limited +27 (0) 11 506 7351
Jenni Newman
15 September, 2011
Johannesburg
JSE Sponsor
Merchantec Capital
Date: 15/09/2011 08:00:31 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
