West Perth-based gold and base metals explorer Shield Mining Ltd announced today it has been granted a new exploration permit in Mauritania.
West Perth-based gold and base metals explorer Shield Mining Ltd announced today it has been granted a new exploration permit in Mauritania.
The renewable license for group 2 minerals covers 1338km2 and is the southern extension of the 160km shear zone that Shield is exploring in Mauritania.
Announcement pasted below:
Shield Mining Limited (ASX:SHX) is pleased to announce that it has been granted another new permit for gold and base metals exploration in Mauritania.
The permit, Exploration Licence No.366 (EL 366) was granted to Shield Mining Mauritania S.A. for Group 2 minerals, effective 29th June 2007 (Council of Ministers Decree No. 2007-225). The licence expires in 3 years, renewable twice for 3 years each time. Shield Mining Mauritania S.A. is a fully owned subsidiary company of Shield Mining Limited.
EL366 covers 1338km2 and is the southern extension of the 160km shear zone that Shield is exploring in Mauritania. The Conchita-Florence Project encompassing EL243, 365 and now 366 includes the Hendrix and the Conchita prospects.
The Hendrix Prospect contains a Au in soil anomaly which extends over a strike length of >1000m as previously announced on the 16th May, 2007 while the Conchita Prospect contains a number of +1g/t Au rock chips over a strike length of >2000m in addition to a Au in soil anomaly over a strike length of >800m as announced on the 25th May 2007.
All these releases and a plan of the permit can be seen on the Company website at http://www.shieldmining.com/.
"The granting of this southern licence now gives us the complete shear zone to explore. We now have the opportunity to discover more anomalies along this extended zone," Shield Mining's Chief Executive Officer, Mr David Netherway, said today.
Shield Mining Limited (SHX:ASX) is an Africa-focused gold and base metals explorer listed on the Australian Stock Exchange. Shield currently holds seven Group 2 (gold and base metals) permits, which cover an area of 10,165km2 in the northern region of Mauritania. In the southern part of the country, Shield holds 60% of a 1383km2 Group 2 permit. Another four Group 2 permits are currently under application, covering an area of 4898km2.
