SIM
SIIF
Simmers - More Prospecting Licences For Simmers
SIMMER AND JACK MINES LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1924/007778/06)
("Simmers" or "the company")
Share code: SIM
ISIN: ZAE000006722
MORE PROSPECTING LICENCES FOR SIMMERS
Simmers has announced that the Department of Minerals and Energy has
granted three more prospecting licences in Mpumalanga to its
subsidiaries, Transvaal Gold Mining Estates Limited (TGME) and Sabie
Mines (Pty) Limited, bringing to five the number of exploration licences
granted to the company this year.
The new licences permit the company to carry out exploration on 22 farms
covering an area of some 42 000 hectares of the Pilgrim"s Rest / Sabie
gold fields.
Historically, the area has yielded some six million ounces of gold, most
of which was produced by TGME, but interest waned following the First
World War, when the focus of gold production switched to the
Witwatersrand.
Simmers CEO, Gordon Miller said: "This area has been mined at various
levels of intensity over the last 130 years. New technology however,
especially in terms of exploration, sampling techniques, and heap leach
processing techniques means that we will be treating many of these sites
as Greenfield projects."
The Simmers team has been challenging the widely held belief that South
Africa"s gold provinces do not hold the potential for new gold
discoveries.
"We are looking forward to conducting a successful grass roots
exploration programme and bringing new gold deposits to account in a
region where poverty alleviation is a major concern. If successful, the
potential impact on the local economy could be substantial," said Miller.
FOR FURTHER INFORMATION PLEASE CONTACT:
GAIL STRAUSS ON +27 (0) 84 777 4060
gailstrauss@mweb.co.za
www.simmers.co.za
Johannesburg
19 October 2006
SPONSOR
SASFIN CAPITAL
(A division of Sasfin Bank Ltd)
Date: 19/10/2006 04:34:48 PM Produced by the JSE SENS Department
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