Luiri Gold Limited is pleased to announce that it has finalized its resource updates resulting from the 9,244m diamond drilling programme recently completed at the Luiri Hills Project (Dunrobin and Matala deposits) in Zambia. The new mineral resource estimates show a significant increase in gold ounces with the total inferred mineral resource increasing from 378,000 ounces to 656,000 ounces (+74%) and the total indicated mineral resource increasing from 117,000 ounces to 144,000 ounces (+23%). These mineral resource ounces are contained in 7.1 million tonnes at 2.9 Au g/t for the inferred category and 2.2 million tonnes at 2.1 Au g/t for the indicated category. "The results of the new resource estimates have again confirmed that the Luiri Hill Project has the potential to be a substantial gold project," commented Mike Sperinck, President and CEO of Luiri Gold. "Furthermore, the current resources at the project are from only the first two targets that we have drilled. We have just completed another plus 9,000m exploratory RC drilling programme on six other targets close to the Matala and Dunrobin deposits and are currently waiting on the assay results."

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Posted Tue, Apr 15 2008 22:26 by memeza / Zambian News