SUB NIGEL GOLD MINING COMPANY LIMITED - SUB NIGEL BEGINS EXPLORATION DRILLING AT
SPAARWATER
SUB NIGEL GOLD MINING COMPANY LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1984/006179/06)
Share code: SBN ISIN: ZAE 000006391
("SBN" or "the company")
SUB NIGEL BEGINS EXPLORATION DRILLING AT SPAARWATER
Sub Nigel (SBN) has recently announced the start of an exploration drilling
programme at its Spaarwater project on the East Rand, South Africa. "We are
pleased to report that we have appointed Geoactiv (Pty) Ltd to undertake this
drilling programme in order to confirm the presence of economically extractable
Nigel Reef as well as to determine the economic potential of the underlying
Erosion Channel sediments on the Spaarwater property," commented a spokesperson
from SBN.
Spaarwater was recently acquired from Goldfields and is known to be underlain by
the Kimberly Reefs as well as the Nigel Reef and the Erosion Channel. "The Nigel
Reef has been extensively mined throughout the East Rand gold basin in the
past," the spokesperson explained. "It can be spectacularly enriched where it
overlays the Erosion Channel, which itself also hosts gold-bearing horizons."
The current programme, expected to cost in the region of R800 000 will involve 1
240 metres of diamond hole drilling and should be completed within eight weeks.
SBN has said that it would provide results of the drilling programme when they
become available.
3 March 2004
Ends
Date: 03/03/2004 03:44:02 PM Produced by the JSE SENS Department
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