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Additional Information
Market: TSX
Sector: Gold Mining
EPIC: CFG
Latest Price: 1.20  (-8.33% Descending)
52-week High: 2.00
52-week Low: 1.10
Market Cap: 180.58M
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Cluff Gold
www.cluffgold.com

Cluff Gold is a gold developer-producer with assets in West Africa.  The Company generates cash flow from its two producing assets, Kalsaka in Burkino Faso and Angovia in Côte d’Ivoire, which together produce a total of 100,000 ounces of gold per annum.  

The Company strives to become a mid-tier producer through the development of its wholly-owned Baomahun project in Sierra Leone, which is expected to contribute an additional 157,000 ounces of gold per annum, with significant exploration potential along strike.  With its experience of bringing new mines into production, the Company aims to further increase its production profile with its highly prospective exploration work at all three projects

Full Cluff Gold profile here
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Cluff Gold: Initial results from Yaoure project boost confidence

19th Jan 2012, 7:11 am by Giles Gwinnett
Initial work suggests that a significant open pit resource could be delineated at favourable stripping ratios. Importantly, testwork indicates that the sulphides are not refractory, suggesting that recovery from a standard CIL plant will not be a problem Initial work suggests that a significant open pit resource could be delineated at favourable stripping ratios. Importantly, testwork indicates that the sulphides are not refractory, suggesting that recovery from a standard CIL plant will not be a problem

Africa-focused Cluff Gold (LON:CLF, TSE:CFG) has reported "significant" gold sulphide drilling results from the Angovia project - now called the Yaoure project in the Ivory Coast.

The company is confident that the existing resources at Yaoure - consisting of 169,000 ounces in the measured category and 123,000 ounces in the indicated - can be significantly increased during this year.

Initial work suggests that a significant open pit resource could be delineated at favourable stripping ratios. Importantly, testwork indicates that the sulphides are not refractory, suggesting that recovery from a standard CIL plant will not be a problem.

"To this end, we have approved a US$6.6 million budget for an aggressive 79,000m exploration drill programme in 2012 which is currently underway," said Cluff's chief executive Peter Spivey.

"Our focus is to delineate sufficient sulphide resources to sustain a CIL operation, whilst at the same time continuing to search for lateritic and saprolitic oxide resources which could result in an early re-opening of the heap leach operation."

Spivey added that Cluff remained confident the project could deliver considerable value for share holders.

The company decided to re-evaluate Yaoure last year and has now decided to concentrate on the sulphide potential rather than the oxide resources - hence the change of name.

Today's results focus mainly stem from the Yaoure Central area where 23 diamond holes were sunk in a 1,967metre programme.

The promising results include 28.35 metres at 3.24 grammes of gold per tonne in hole YD0021, 31.60 metres with 1.97 g/t in hole YD0014 and 13.25 metres at 4.14 g/t in hole YD008.

Cluff highlighted the project's favourable location, which is within 5km of a hydro-electric power source, and where abundant water is available.

It added that a second phase of diamond drilling focusing on the N-S structures, consisting of 2,000 metres across 9 holes, has begun with results expected in March this year.

Meanwhile, an additional 1,000 metre drilling programme following up on the E-W structures is planned for February this year, with results expected this April.

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