Monday, 9th June 2008 (558 views)

Crew Gold is to increase the resources at its wholly-owned Lefa Gold Mine in Guinea, west Africa to over five million ounces.

The measured and indicated resource total has increased by 0.28 million ounces, proactiveinvestors said, up to 5.1 million ounces, while total resources have increased by seven per cent to 6.42 million ounces.

Jan Vestrum, president and chief executive officer of Crew, said: "This increase in the resource base at LEFA to plus-five million ounces in the measured plus indicated categories firmly places Lefa in the ranks of world-class gold deposits.

"The company is confident that continuing exploration will provide further increases to our resource and reserve inventory."

He added that the company has a reserve mine life which is over ten years.

Crew reports that the Lefa Corridor Gold Project is located around 700 km north-east of capital Conakry, with its principal concession covering an area of approximately 1,500 sq km.

 

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