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Monday, 9th February 2004 (5100 views)

Kenor has announced the December 2003 resource estimates for it's 85 per cent owned Lero gold projects in Guinea, West Africa.<BR/> <BR/>As a result of the Norwegian firm's Large Exploration Program (LEP), which commenced in September 2002, the total resource for the Lero project has been substantially increased to 82.5 million tonnes at 1.5 g/t Au for 4.0 million ounces of gold, in 10 separate deposits. <BR/><BR/>The majority of these deposits are located within the LEFA corridor, a 10km x 8km area in the north eastern part of the Dinguiraye Concession.<BR/><BR/>The company said the L ro-Karta deposit has been extended both at depth and through the discovery of peripheral near surface oxide mineralization.<BR/> <BR/>Kenor's President and CEO Trevor Schultz commented: 'This major increase in the resource base by 1.1 million ounces has been achieved at a highly competitive cost of $4.90 per ounce, indicating the potential of the Lero project to provide cost effective new ounces for Kenor.'<BR/> <BR/>The new resource estimate represents an increase of 1.1 million ounces (after allowing for mining depletion) over the previous December 2002 figures.

 

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