Information  X 
Enter a valid email address

Randgold Resources (RRS)

  Print      Mail a friend       Annual reports

Monday 08 November, 2004

Randgold Resources

Yalea infill drilling

Randgold Resources Ld
08 November 2004

Randgold Resources Limited
Incorporated in Jersey, Channel Islands
Reg. No. 62686
LSE Trading Symbol: RRS
Nasdaq Trading Symbol: GOLD


London, 8 November 2004 (LSE: RRS) (Nasdaq: GOLD)  -    A 20-hole infill
drilling programme is currently underway at Yalea to gather data for the
upcoming feasibility study.  This follows the completion of the Loulo
underground prefeasibility last quarter which confirmed the potential for the
development of long-life underground operations at the mine.

The design of the drill campaigns has been coordinated with SRK Consulting,
which will lead the full feasibility study.  Selected holes have been chosen to
infill the higher grade competent material of the orebody to supply
geotechnical, geohydrological and geo-thermal data.

All aspects of the project are now being incorporated into the underground
feasibility study.  These include the final pit optimisations which are
currently being carried out and incorporate the latest upgraded resource
updates, together with the impact of the underground costs to optimise the open
pit to underground interface.

The team has also started the advanced grade control on the two open pits for
preplanning purposes.  This will be used to better delineate the width and
continuity of higher grade portions of the orebody.  If it can be demonstrated
that a thinner higher grade portion of the orebodies can be mined selectively,
this will have an impact on the underground mining method employed.

'Continued drilling at Loulo has delivered another 2.5 million ounces to
increase the resource there to more than 7 million ounces.  Incidentally, this
also takes the tally of new ounces we've discovered during the past 10 years
over the 15 million mark,' said chief executive Dr Mark Bristow.  'While the
exploration there continues, construction of the mine at Loulo has also
proceeded apace, and is on track to start pouring gold next year as scheduled.
Loulo is another big step forward for us:  essentially, we're launching a new
cycle of value creation, and we're funding it without having to go to
shareholders or the market, by using money we got from Morila and gearing up
with bank debt.'


Chief Executive - Dr Mark Bristow +44 779 775 2288

Financial Director - Roger Williams +44 779 771 9660

Investor & Media Relations - Kathy du Plessis +27 11 728 4701, Cell: +27 (0) 83
266 5847,


DISCLAIMER:  Statements made in this document with respect to Randgold
Resources' current plans, estimates, strategies and beliefs and other statements
that are not historical facts are forward-looking statements about the future
performance of Randgold Resources.  These statements are based on management's
assumptions and beliefs in light of the information currently available to it.
Randgold Resources cautions you that a number of important risks and
uncertainties could cause actual results to differ materially from those
discussed in the forward-looking statements, and therefore you should not place
undue reliance on them.  The potential risks and uncertainties include, among
others, risks associated with: fluctuations in the market price of gold, gold
production at Morila, the development of Loulo and estimates of resources,
reserves and mine life.  For a discussion on such risk factors, refer to the
annual report on Form 20-F for the year ended 31 December 2003, which was filed
with the Securities Exchange Commission on 30 June 2004.  Randgold Resources
assumes no obligation to update information in this release. Cautionary Note to
US Investors:  The United States Securities Exchange Commission (the 'SEC')
permits companies, in their filings with the SEC, to disclose only proven and
probable ore reserves.  We use certain terms in this release, such as 
'resources', that the SEC does not recognise and strictly prohibits us from 
including in our filings with the SEC.  Investors are cautioned not to assume 
that all or any part of our resources will ever be converted into reserves which
qualify as 'proven and probable reserves' for the purposes of the SEC's industry
guide number 7.

                      This information is provided by RNS
            The company news service from the London Stock Exchange