Compagnie Miniere Esperance

Compagnie Miniere Esperance

April 27, 2015 08:00 ET

The CME Announces Positive Results From its Diamond Drilling Campaign of 2014 at Esperance Site in French Guyana, Hole S005 Intersected 146.3 Meters at 1.08g / t Au from 2.7m to 149m ...

...on Concession with potential(i) between 250 - 350 million Tonnes between 1.24 & 1.99 g / t Au over the PER

CAYENNE, FRENCH GUYANA--(Marketwired - April 27, 2015) -

Editors' Note: A photo is associated with this press release.

La Compagnie Miniere Esperance ("CME" or the "Company") is pleased to announce positive results from its diamond drilling program of 2014 on its mining concession Esperance in French Guyana.

HIGHLIGHTS 2014

  • 7 HQ diameter diamond drill holes
  • 1,098 meters of drilling
  • 6 holes on 7 intersected significant gold mineralization, the S002 have been abandoned for technical problem.
  • An airborne LIDAR survey was conducted.
  • The cores were oriented and structural measures taken

Esperance site:

This area was explored by BRGM since the years 1955 and 1956 until 1980. CME has exploited the saprolite with treatment by washing, crushing, grinding and gravity recovery from 1991 to 2010 for a production of 155.500 ounces for 4.8 tons of gold. Works at SGS Lakefield 2004 on residue showed that only 30-33% of the gold was recovered with the gravimetric method of treatment used.

In 2013 NI 43-101 technical report GoldMinds Geoservices shows a potential* between 8 and 10 million tonnes at a grade ranging between 1.56 & 3.03 g / t Au over the concession granted in 2012. For the research permit of Nouvelle Esperance (PER,) it shows a potential* of 250 to 350 million tonnes at a grade oscillating between 1.24 and 1.99 g / t.

*Cautionary statement: The potential is conceptual in nature as there has been insufficient exploration to define a measured mineral resources, indicated or inferred on this scale and it is not certain that additional exploration will convert the targeted areas in mineral resources.

Attached table of results from the first diamond drilling campaign conducted by the CME on Esperance site.

Main Intersections gold by fire assay
Hole From
(m)
To
(m)
Length
(m)
Au (*)
g/t
S001 2.20 59.9 57.7 1.67
Including 37.15 48.0 10.85 4.87
including 58.25 59.9 1.65 5.22
S001 100.35 117.2 16.85 2.62
S001 132 136.4 4.4 3.10
S003 70.8 98 27.2 1.00
including 95 98 3.0 4.69
S004 13.5 23.15 9.65 2.07
including 13.5 16.20 2.7 5.93
S004 113.5 175.95 62.9 0.67
including 162.8 175.95 13.15 1.32
S005 2.70 149.0 146.3 1.08
including 11.45 21.90 10.45 1.32
including 81.25 149.0 67.75 1.51
including 96.32 123.7 27.38 2.30
S006 1.85 57.35 55.5 0.80
S006 104.65 169.52 64.87 0.87
including 117.7 128 10.3 1.36
including 154.28 169.52 15.24 1.59
S007 8.10 109.55 101.45 0.99
including 77 109.55 32.55 2.06
including 98.7 109.55 10.55 3.96
*Or by Fire-Assay Filab Surinam

Most of the holes cut the mineralized corridor N50 which is sub-vertical. Holes are inclined 45 degrees and intersections are along the core. Gold grades are uncapped. True widths for intersections in this release have not yet been determined.

The holes were drilled in scissors on sections spaced 200 meters apart. Scissor 1 with the S001 / S003 holes is located 200m southwest of the scissor S004 / S005 while the scissor S006 / S007 is 250 west of S001 / S003. The holes S001, S002 & S005 are oriented at 145N -45, the holes S003 & S004 are oriented 325N -55 & -45. Holes S006 & S007 are oriented 20N -45 & 200N -45.

The Company undertook a second phase with 3,000m of drilling and the results will be announced when completed and compiled.

The analytical control program QA / QC included blanks and standards and are satisfactory and allow the release of results.

The direction of the CME declares: "We are extremely pleased with the results of this first diamond drilling program. This begins to demonstrate that the Esperance site contains a World class gold deposit and that there is still a lot of gold. This first phase highlights a significant asset for the company. Moreover these combined drilling campaigns with subsequent phases will allow the CME to receive its first estimate of the mineral resources in accordance with NI 43-101 standard by 2015. "

The technical content of this press release was prepared and reviewed by Claude Duplessis geologist engineer GoldMinds Geoservices Inc., an Independent Qualified Person as defined in NI 43-101 standards.

About CME

CME is a private Guyanese company owner of two mining sites:

  • ESPERANCE in the town of Apatou
  • SAINT ELIE in the town of Saint Elie; the mining title is held by SMSE (Societe des Mines de Saint Elie) 100% subsidiary of CME. This concession was acquired from Golden Star.

For more information on CME visit: www.esperancegoldmine.com

To view the photo associated with this press release, please visit the following link: http://www.marketwire.com/library/20150424-RIMG0284_800.jpg

Contact Information

  • Claude Duplessis P. Eng
    GMG
    1-418-653-9559