Burkina Faso Gold Project Update
Goldplat plc / Ticker: GDP / Index: AIM / Sector: Mining & Exploration
13 April 2010
Goldplat plc ('Goldplat' or 'the Company')
Burkina Faso Gold Project Update
Goldplat plc, the AIM quoted gold producer, is pleased to provide an update on
its exploration programme for the prospective 246 sq km Nyieme Gold Project
('Nyieme Project') in Burkina Faso.
Overview:
* Intention to prove up the viability and production potential of the Nyieme
project, and to test for further anomalies on the property
* A phased approach to the exploration programme being implemented
* Phase 1 - a trenching programme over areas of geophysical and soil
sampling anomalies scheduled to start in May 2010
* Phase 2 - a 1,250m diamond drilling ('DD') programme over the area
previously drilled by Sanu Exploration ('BVI') Limited ('Sanu') -
scheduled to start on completion of Phase 1, expected August 2010
* 11 hole DD programme will test in depth the high grade zones and strike
lengths
* Budget for Phases 1 and 2 circa US$240,000
* Targeting a JORC-compliant resource following completion of Phases 1 and
2
* Phase 3 - follow-up DD drilling based on results from Phases 1 and 2 to
further define the economic potential of the project
Goldplat CEO Demetri Manolis said, "We are highly confident about the potential
of the Nyieme Project in Burkina Faso and have therefore devised an extensive
exploration programme to test both the existing high grade targets, which
include 3m @ 17.48 g/t gold as well as potential new areas of mineralisation.
The West African region is attracting significant investment due to the
recognised prospectivity of Burkina Faso, Ghana and Mali, and we believe through
exploration we can significantly improve the value of the Nyieme Project."
Exploration Programme:
The exploration programme is designed to achieve two major objectives:
1. To extensively trench the geochemical and geophysical anomaly which extends
to the south along the same trend as the veins drilled in the Nyieme prospect.
 This trenching will cover a strike length of 6km.  Additional trenching will be
conducted on a strong Induced Polarisation ('IP') anomaly which lays parallel
and 2.5 km to the east of the main anomaly.
2. To further explore the Nyieme project as previously drilled by Sanu
Exploration (BVI) Ltd. Sanu conducted a 2,015m 26 hole reverse circulation
('RC') drilling programme the intersection results of which best intersections
included 3m @ 17.48 g/t gold ('Au'), 1m @ 16.76 g/t Au, 1m @ 4.46 g/t Au and 1m
@17.83 g/t Au. A summary of the results are shown in Table 1. For further
information see news release 11 January 2010.
Goldplat has designed an 11 hole DD programme which will test in depth the high
grade zones indicated by the RC programme as well as testing for any strike
extensions to the mineralisation. Any significant results from the trenching
programme in Phase 1 will be followed up by DD as part of Phase 2 which is
planned for August 2010.
The total cost of Phases 1 and 2 of the exploration programme is estimated to
cost US$240,000. On completion it will be determined if a JORC-compliant
resource can be calculated.
Table 1: Results of 2,015m 26 hole RC drilling programme
+-----------+---------+--------+-------+----+----+--+-----+---------------+
|Hole Number|Northings|Eastings|Azimuth|Dip |From|To|Width| Value (g/t) |
+-----------+---------+--------+-------+----+----+--+-----+---------------+
| | 1246488 | | | | | | | |
| NYRC 01 | | 507844 | 294º |-55º| - |- | - |Not significant|
| | Â | | | | | | | |
+-----------+---------+--------+-------+----+----+--+-----+---------------+
| NYRC 02 | 1246475 | 507879 | 294º |-55º| - |- | - |Not significant|
+-----------+---------+--------+-------+----+----+--+-----+---------------+
| NYRC 03 | 1246352 | 507789 | 294º |-55º| 21 |25| 4m | 0.34 g/t |
+-----------+---------+--------+-------+----+----+--+-----+---------------+
| NYRC 03 | Â | Â | Â | Â | 39 |39| 3m | 1.31 g/t |
+-----------+---------+--------+-------+----+----+--+-----+---------------+
| NYRC 04 | 1246339 | 507824 | 294º |-55º| 58 |60| 2m | 2.3 g/t |
+-----------+---------+--------+-------+----+----+--+-----+---------------+
| NYRC 05 | 1246241 | 507750 | 294º |-55º| 49 |51| 2m | 3.38 g/t |
+-----------+---------+--------+-------+----+----+--+-----+---------------+
| NYRC 06 | 1246230 | 507785 | 294º |-55º| 36 |39| 3m | 1.85 g/t |
+-----------+---------+--------+-------+----+----+--+-----+---------------+
| Including | Â | Â | Â | Â | 38 |39| 1m | 4.52 g/t |
+-----------+---------+--------+-------+----+----+--+-----+---------------+
| NYRC 06 | Â | Â | Â | Â | 40 |41| 1m | 1.20 g/t |
+-----------+---------+--------+-------+----+----+--+-----+---------------+
| NYRC 07 | 1246052 | 507717 | 294º |-55º| - |- | - |Not significant|
+-----------+---------+--------+-------+----+----+--+-----+---------------+
| NYRC 08 | 1246039 | 507752 | 294º |-55º| 68 |71| 3m | 0.92 g/t |
+-----------+---------+--------+-------+----+----+--+-----+---------------+
| NYRC 09 | 1245977 | 507672 | 294º |-55º| 38 |39| 1m | 4.03 g/t |
+-----------+---------+--------+-------+----+----+--+-----+---------------+
| NYRC 10 | 1245964 | 507711 | 294º |-55º| - |- | - |Not significant|
+-----------+---------+--------+-------+----+----+--+-----+---------------+
| NYRC 11 | 1245893 | 507642 | 294º |-55º| - |- | - |Not significant|
+-----------+---------+--------+-------+----+----+--+-----+---------------+
| NYRC 12 | 1245878 | 507682 | 294º |-55º| 30 |31| 1m | 0.91 g/t |
+-----------+---------+--------+-------+----+----+--+-----+---------------+
| NYRC 13 | 1245740 | 507577 | 294º |-55º| 42 |45| 3m | 0.52 g/t |
+-----------+---------+--------+-------+----+----+--+-----+---------------+
| NYRC 14 | 1245727 | 507615 | 294º |-55º| 94 |95| 1m | 0.64 g/t |
+-----------+---------+--------+-------+----+----+--+-----+---------------+
| NYRC 15 | 1245646 | 507555 | 294º |-55º| 21 |23| 2m | 0.88 g/t |
+-----------+---------+--------+-------+----+----+--+-----+---------------+
| NYRC 15 | Â | Â | Â | Â | 36 |46| 10m | 5.87 g/t |
+-----------+---------+--------+-------+----+----+--+-----+---------------+
| Including | Â | Â | Â | Â | 38 |44| 6m | 9.86 g/t |
+-----------+---------+--------+-------+----+----+--+-----+---------------+
| Including | Â | Â | Â | Â | 38 |43| 5m | 11.67 g/t |
+-----------+---------+--------+-------+----+----+--+-----+---------------+
| Including | Â | Â | Â | Â | 38 |41| 3m | 17.48 g/t |
+-----------+---------+--------+-------+----+----+--+-----+---------------+
| NYRC 16 | 1245630 | 507590 | 294º |-55º| 63 |64| 1m | 0.88 g/t |
+-----------+---------+--------+-------+----+----+--+-----+---------------+
| NYRC 16 | Â | Â | Â | Â | 65 |66| 1m | 0.75 g/t |
+-----------+---------+--------+-------+----+----+--+-----+---------------+
| NYRC 16 | Â | Â | Â | Â | 72 |74| 1m | 0.72 g/t |
+-----------+---------+--------+-------+----+----+--+-----+---------------+
| NYRC 16 | Â | Â | Â | Â | 76 |78| 1m | 0.87 g/t |
+-----------+---------+--------+-------+----+----+--+-----+---------------+
| NYRC 17 | 1245560 | 507488 | 294º |-55º| 40 |41| 1m | 16.76 g/t |
+-----------+---------+--------+-------+----+----+--+-----+---------------+
| NYRC 18 | 1245550 | 507522 | 294º |-55º| 64 |65| 1m | 4.46 g/t |
+-----------+---------+--------+-------+----+----+--+-----+---------------+
| NYRC 18 | Â | Â | Â | Â | 69 |70| 1m | 17.83 g/t |
+-----------+---------+--------+-------+----+----+--+-----+---------------+
| NYRC 19 | 1245097 | 507669 | 304º |-55º| 44 |45| 1m | 1.92 g/t |
+-----------+---------+--------+-------+----+----+--+-----+---------------+
| NYRC 20 | 1245076 | 507699 | 304º |-55º| - |- | - |Not significant|
+-----------+---------+--------+-------+----+----+--+-----+---------------+
| NYRC 21 | 1245014 | 507619 | 304º |-55º| 27 |28| 1m | 0.69 g/t |
+-----------+---------+--------+-------+----+----+--+-----+---------------+
| NYRC 22 | 1244993 | 507650 | 304º |-55º| 29 |30| 1m | 0.86 g/t |
+-----------+---------+--------+-------+----+----+--+-----+---------------+
| NYRC 23 | 1244924 | 507562 | 304º |-55º| 41 |42| 1m | 2.1 g/t |
+-----------+---------+--------+-------+----+----+--+-----+---------------+
| NYRC 24 | 1244906 | 507593 | 304º |-55º| 64 |65| 1m | 1.45 g/t |
+-----------+---------+--------+-------+----+----+--+-----+---------------+
| NYRC 25 | 1244852 | 507505 | 304º |-55º| - |- | - |Not significant|
+-----------+---------+--------+-------+----+----+--+-----+---------------+
| NYRC 26 | 1244832 | 507536 | 304º |-55º| - |- | - |Not significant|
+-----------+---------+--------+-------+----+----+--+-----+---------------+
Qualified Person
This announcement has been reviewed by Mr. Mark Austin, the group geologist for
Goldplat who has more than 25 years of relevant experience in the field of
activity concerned. He is a fellow of the Geological Society of South Africa
('GSSA') and has consented to the inclusion of the material in the form and
context in which it appears.
* * ENDS * *
For further information visit www.goldplat.com <
http://www.goldplat.com/> or
contact:
Demetri Manolis, CEO Goldplat plc Tel: +27 (0) 11 423 1203
James Joyce WH Ireland Limited Tel: +44 (0) 20 7220 1666
David Porter WH Ireland Limited Tel: +44 (0) 20 7220 1666
Felicity Edwards St Brides Media & Finance Ltd Tel: +44 (0)20 7236 1177
Isabel Crossley St Brides Media & Finance Ltd Tel: +44 (0)20 7236 1177
Notes:
Goldplat is an AIM-listed gold producer with operations in Africa. Its strategy
is to consolidate its position as a gold producer in Africa and build itself
into a highly profitable mid-tier gold company, leveraged through revenue
generated from its gold recovery businesses.
The Company has two recovery businesses based in South Africa and Ghana
producing circa 21,000 ounces of gold per year. These safely dispose of mining
by-products, and fulfil an important aspect of the mines' environmental
management programmes. The South African plant is located near the centre of
the East Rand Goldfield and raw material feedstocks are sourced from many of the
major South African mining companies, including AngloGold Ashanti, Goldfields,
Harmony, DRD Gold and other smaller producers. The Ghana plant, located in the
free port of Tema, provides access to raw materials from mines in Mali, Guinea,
Burkina Faso, Benin, Cote D'Ivorie, Senegal, the DRC and Mauritania, as well as
Ghana.
Goldplat is looking to increase its asset base through the acquisition of known
deposits with targets of between 200,000 and one million contained ounces. Â To
this end, it is developing two projects; its wholly owned Kilimapesa Gold mining
project, located in the historically producing Migori Archaean Greenstone Belt
in western Kenya and the prospective 246 sq km Nyieme Project in Burkina Faso
with a view to establishing a mining operation in the short term. Kilimapesa
Gold commenced initial production in January 2009 and has announced an initial
JORC-compliant resource of 1.65Mt at 2.44 g/t Au for 129,000 oz Au at a cut-off
grade of 1 g/t Au for all categories.
[HUG#1403044]