Compagnie Miniere Esperance

Compagnie Miniere Esperance

June 08, 2015 09:40 ET

The CME Intersected 130.2 m at 2.08 g/t Au in Hole S016 and 17.05 m at 8.89 g/t Au in Hole S012 on Concession Esperance Site, and Announce Starting of an Additional 2000 m Drilling Campaign

CAYENNE, FRENCH GUYANA--(Marketwired - June 8, 2015) - La Compagnie Miniere Esperance ("CME" or the "Company") is pleased to announce positive results from its first diamond drilling program of 2015 on its mining concession Esperance in French Guyana. It is also pleased to announce the undertaking of additional drilling program of 2000m to start in June.

HIGHLIGHTS first drilling campaign of 2015

  • S016 intersect 130.2m at 2.08 g/t Au from 86.60 to 216.80 meter

  • S012 intersect 212.6m at 1.44 g/t Au from 73.0 to 285.60 meter
    Including 17.05 meters at 8.89 g/t

  • S014 intersect 65.2m at 2.51 g/t Au from 85.55 to 150.75 meter

  • S020 intersect 207.3m at 1.42 g/t Au from 12 to 219.3 meter

  • S013 intersect 150 m at 1.92 g/t Au from 32 to 182 meter

  • 14 diamond drill holes (HQ in Saprolite & NQ in fresh rock)

  • 2935 meters of diamond drilling

  • 14 intersected significant gold mineralization on 14 holes

  • Mineralization confirmed over 1 Km strike length

  • Mineralization confirmed from surface down to a vertical depth of 220 meters

  • Mineralization confirmed over an horizontal width of 140 m

  • Deposit open along strike and at depth

Details on the intersections are listed in the following table. Main Intersections samples analysed by gold fire assay.

Following table of results from the second diamond drilling campaign conducted by the CME .

Hole Name From To Length Au(*)
(m) (m) (m) g/t
S008 1.00 165.30 164.3 1.30
including 3.40 13.55 10.15 5.92
including 42.90 49.70 6.8 4.04
including 60.80 69.75 8.95 3.83
including 96.10 109.45 13.35 2.49
including 135.20 140.00 4.80 2.53
S009 1.30 156.80 155.5 0.56
including 1.70 38.90 37.2 0.84
including 105.10 109.70 4.60 2.95
including 134.15 146.40 12.25 1.34
S010 2.80 156.90 154.1 0.57
including 16.40 79.10 62.7 0.82
including 63.80 72.10 8.3 2.35
S011 0.00 137.00 137,00 0.45
including 8.90 57.50 48.6 0.85
including 18.25 30.70 12.45 1.23
S012 73.00 285.60 212.6 1.44
including 101.00 118.60 17.6 1.81
including 156.70 175.60 18.9 1.49
including 209.45 226.50 17.05 8.89
including 261.60 270.75 9.15 2.04
S013 32.00 182.00 150,00 1.92
including 32.00 68.60 36.6 2.13
including 116.45 141.25 24.8 4.31
S014 85.55 150.75 65.2 2.51
including 123.75 142.85 19.1 6.32
S015 54.40 154.90 100.5 0.53
including 57.05 70.70 13.65 1.70
including 104.70 108.50 3.8 2.28
S016 0.00 38.15 38.15 0.61
including 27.55 38.15 10.6 1.71
S016 86.60 216.80 130.2 2.08
including 117.25 146.35 29.1 4.19
including 177.10 190.90 13.8 2.26
S017 0.75 192.00 191.25 0.94
including 83.40 105.00 21.6 1.44
including 140.55 162.00 21.45 4.76
S018 0.35 137.65 137.3 0.90
including 29.60 40.30 10.7 1.39
including 50.15 59.40 9.25 2.79
including 99.35 110.90 11.55 1.71
S019 0.00 153.40 153.4 0.66
including 69.35 105.40 36.05 1.65
S020 12.00 219.30 207.3 1.42
including 32.50 49.25 16.75 3.46
including 53.00 59.70 6.7 2.40
including 81.50 89.00 7.5 11.14
including 200.75 217.10 16.35 2.25
S021 0.20 171.60 171.4 1.35
including 39.80 51.30 11.5 1.38
including 59.75 82.20 22.45 3.90
including 87.60 98.40 10.8 2.76
including 103.35 112.55 9.2 1.16
including 127.05 135.15 8.10 2.33
including 139.20 148.75 9.55 3.27
S022 5.75 83.25 77.5 0.72
including 9.00 15.60 6.6 2.26
including 68.00 83.25 15.25 1.17
S022 189.25 228.45 39.2 0.50
including 202.30 208.70 6.40 1.51

*Au by Fire-Assay Filab Surinam

Holes S010 & S011 were drilled on north-west extension of the main mineralized corridor while the others S008, S009, S011 to S022 were drilled to intersect mineralized corridor N50 which is sub- vertical. Holes are inclined 45 to 55 degrees and intersections are along the core. Gold grades are uncapped. True widths for intersections in this release have not yet been determined. Most of the holes were drilled in the North 325 direction while 3 holes S020, S021 & S022 where drilled with azimuth from 190, 177 & 195 degrees to intersect the subvertical mineralized veins having an orientation of 120 degrees with an estimated step of 1 to 2 meters. These veins are well developed and mineralized in two higher grade corridor. An inclined 45 degrees fault at 120 degrees is shifting the main mineralized corridor between S017 & S012. The holes were drilled in scissors on sections spaced 200 meters apart and infill holes on 100 meters section.

The Company undertook a third phase with 2,000m 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 second diamond drilling program. This continues to demonstrate that the Esperance site contains a World class gold deposit and that there is still a lot of gold. This second phase consolidate the fact that it is 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. "

Drill Hole Location map.

The technical content of this press release was prepared and reviewed by Claude Duplessis Peng geological 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/

Contact Information

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