| Thu 18 Dec 2003, 13:06 | | NEWS RELEASE |
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MESSINA LIMITED - NEWS RELEASE
MESSINA LIMITED
(Registration Number 1950/035912/06)
Share Code: MES
ISIN ZAE000004438
("Messina")
News Release
The following are selected extracts dealing with Messina out of a news release
issued by SouthernEra Resources Limited, Messina"s holding company, in Toronto
on 17 December 2003.
December 17, 2003
Shares Issued and Outstanding: 74,499,193
TSX: SUF
AIM: SRE
SOUTHERNERA"S GLOBAL BUSINESS DEVELOPMENT AND EXPLORATION REVIEW 2003
Toronto, Ontario - SouthernEra Resources Limited today provided a year-end
review of the Company"s global business development and exploration activities.
MESSINA PLATINUM PHASE 2 - DWAALKOP / DOORNVLEI SECTIONS
The initial phase of the drilling program to 500 metres has been completed at
Phase 2 of the Greater Messina. Eighty six percent of the planned 22,840 metre-
drilling program to 1,000 metres has also been completed. The remainder of the
drilling program to 1,000 metres is expected to be completed by the end of
January 2004.
Assays received to date have returned, on average, higher grades in the Merensky
Reef, than previously anticipated. The UG2 Chromitite grades are in line with
previous expectations. The degree of potholing and faulting is also within
expected limits, at 10 percent of reef intersections for both the Merensky and
UG2 Reefs.
The final resource classification to 500 metres has been delayed due to higher
than anticipated turn around times for the check assays from the independent
laboratories. It is now anticipated that the check assays for 5PGE+Au will be
available by the end of December. The resource classification to 500 metres will
be completed in January 2004 and independently verified by SRK Consulting, who
is conducting the feasibility study for Phase 2.
The feasibility study for the combined properties of Dwaalkop and Doornvlei is
in progress and will be completed during the first half of 2004. Based on the
scoping study results, it is anticipated that the combined properties will host
an operation of at least 240,000 tonnes per month with a life in excess of 30
years to 1,000 metres.
MESSINA PLATINUM PHASE 3 - ZEBEDIELA SECTION
The drilling program to upgrade the resource base of the Merensky and UG2 Reefs
to 1,000 metres below surface is progressing satisfactorily, and is twenty seven
percent completed. Results to date compare favourably with data from previous
drilling results undertaken by Impala Platinum. Intersections of both the
Merensky Reef and UG2 Chromitite are typical of the area, with both reefs in
excess of 150 centimetres in width.
It is anticipated that the drilling program will be completed by the end of the
first quarter 2004 and final results should be available during the second
quarter of 2004.
Please note, in the third quarter news release, dated November 26, 2003 the
Company stated that Messina"s Main Shaft hoisted 142,381 tonnes of both
development and reef ore. This tonnage reflects only reef tonnes and does not
reflect the total tonnes hoisted, which for the third quarter was approximately
203,983 tonnes.
FOR FURTHER INFORMATION PLEASE CONTACT:
SouthernEra Resources Limited
Dr. Sally Eyre, Vice President Corporate Affairs
Telephone: (416) 359-9282
Fax: (416) 359-9141
E-mail: inbox@southernera.com
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
CORPORATE FINANCE
Date: 18/12/2003 11:44:03 AM Produced by the JSE SENS Department
