Simba plans to start drilling program on the Miyove Gold Project, Rwanda
29.05.2012/7/5.000 Vancouver, British Columbia - Simba Gold Corp. (TSX.V: SGD, Frankfurt: SXNUMXG) ("Simba" or "the Company") is pleased to announce that the planned diamond drilling program of up to XNUMX meters in length will commence in early June at the Miyove Gold Project in Rwanda , Africa, is provided.
Simba completed a surface exploration in early December 2011. The program consisted of extensive soil and rock sampling, a magnetic soil survey and detailed geological mapping. A total of 1.173 soil samples were taken and 455 rock samples were collected and a total of 100 line kilometers of land magnetic recordings completed. The entire area was mapped in detail.
The results of the Surface Program provided sufficient information for the design of the drilling program. The first holes are targeted for known gold mineralization within the Masogwe and Baradega zones.
The drill program will be conducted on the premises of SRK Exploration Services Ltd. ("SRK") from Cardiff, England. Hall Core Drilling (Pty) Ltd of South Africa has been commissioned to complete the drilling. SRK arrived in Rwanda and is now traveling to the Miyove Project to build the drill program. Two drills will now be delivered to the Miyove site in late May to be ready for use in early June.
"We look forward to commencing the drill program on our Miyove gold project," said Werner Ullmann, President & CEO of Simba. “We are very pleased to have SRK - a well-known provider of exploration services - on board, who is monitoring the program and, combined with the excellent infrastructure of the site, we are now looking forward to the further tests of the gold mineralization that have already been carried out so far shows on the site. "
About the Miyove Project
The Miyove Gold Project spans 2.937 hectares and is located in northern Rwanda about 65 kilometers from the capital, Kigali. The infrastructure on the property includes excellent accessibility via the road as well as access to water and electricity. The project consists of an exploration license granted by the Ministry of Forestry and Mines of the Republic of Rwanda. The license (license 20 / 16 / 03 / 05) was originally on 10. August 2006 issued and now to 23. March 2014 extended.
The Miyove Gold Project is traversed by the Central African Kibara Belt, which is of Mesopotrero-era age and extends northeast from the eastern DRC through Rwanda to southern Uganda. The Kibara geology on the property consists of shale, silt, sandstone and rare accumulation units that define simple saddle-like and trough-like folding structures. The mineralization occurs in conjunction with numerous northwest-southeastern structures that contain gold-bearing quartz veins and floors. The associated weathering of deaf layers consists of kaolin and iron oxidation.
The Miyove Project comprises three mineralization zones, Karenda, Baradega and Masogwe, which run along a northwest-to-southeast mineralization trend that is six kilometers long. Three types of structurally controlled gold mineralization have been identified, including ore cordon zones, silicified (quartz) and iron-bearing shales, and, less frequently, quartz veins with varying levels of iron oxides and hydroxides (in the weathering crust). The bedrock is mainly slate and, to a lesser extent, sandstone. A fourth type of gold mineralization has also been identified on the property. This contains alluvial and deluviale Wascherze.
The gold deposit targeted on the Miyove Project is similar to the Twangiza Gold Mine (Banro Corporation) in South Kivu Province, DRC which is also located in the Kibara Belt. The Twangiza gold mineralization lies in mud clay, silts, greywacke and porphyry along a ridge line of the main anticlinal structure and limb-parallel structures. The Twangiza deposit contains proven and possible 1,13 million ounce gold oxide reserves with 2,26 g / t. In addition, the occurrence includes Measured and Inferred 1,3 Oxide Oxide Gold 2,3 g / t Oxide and a Measured and Indicated 4,3 Non-Oxide Oxides Resource of 1,5 g / t (all reserve and resource numbers are NI 43-101 compliant and come from the latest reports from Banro Corp. and are available at www.sedar.com).
To date, in 2011, Simba 2.300 completed drilling on the site with a focus on the Karendazone. Highlights were:
• Hole MY-11-02: 24,69 m averaging 0,61 g / t gold, including 7,54 m averaging 1,12 g / t gold
• Hole MY-11-05: 5,58 m averaging 1,21 g / t gold, including 2,57 m averaging 2,15 g / t gold
The Miyove Gold Project is being led by A. Armitage, Ph.D., P.Geol. Dr. Armitage is Simba Gold's Director and Chief Technical Advisor and NI 43-101 Qualified Person for the Miyove Gold Project. Dr. Armitage has reviewed and approved the technical content of this news release.
Simba Gold Corp. ("Simba" or the "Company") also announced today that it has commissioned the services of Kor Communications Inc. ("Kor") for investor matters. For the services rendered, Simba commissioned by means of a monthly agreement and a monthly payment of 6.000 $. Except for the Investor Contract, Kor has no interests, directly or indirectly, in Simba or its shares.
About Simba Gold Corp.
Simba Gold Corp. is an exploration company focused on developing high quality gold deposits in Rwanda, Africa. Simba owns 12% of Rogi Mining Limited ("Rogi") and has an option to earn up to 100% over five years. Rogi owns three properties in Rwanda, with the main project being the Miyove Gold Project spanning 2.937 acres in the country's largest gold producing region.
More information is available from Investor Relations at Ms. Sarah Jones at +1 604 568 2486 or [email protected].
On behalf of the Board of Directors,
Werner J. Ullmann
President and CEO
Simba Gold Corp.
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Cautionary Note Regarding Forward-Looking Information
Some of the statements in this release are so-called forward-looking statements and information in accordance with the meaning of applicable securities laws. Forward-looking statements and information may be identified by the use of words such as "expected," "intended," "should," "potential," "suggests," or variations of such words or phrases, or statements that identify specific actions, events, or results "can", "could", "should", "become" or "become". Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the control of Simba. Actual results and developments are likely to differ and may differ materially from those expressed or implied in the forward-looking statements in this press release. Accordingly, readers should not have undue reliance on these forward-looking statements. The Company undertakes no obligation to update or otherwise correct any forward-looking statements except as required by law.
