Information  X 
Enter a valid email address

Randgold Resources (RRS)

  Print      Mail a friend       Annual reports

Monday 29 November, 2004

Randgold Resources

Latest Yalea drill results

Randgold Resources Ld
29 November 2004


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


LATEST YALEA DRILL RESULTS UNDERLINE LOULO UNDERGROUND POTENTIAL


Bamako, Mali, 29 November 2004 (LSE: RRS)(NASDAQ: GOLD)  -  Results from the
ongoing under-ground feasibility drilling at Loulo, where London and Nasdaq
listed Randgold Resources is currently developing an open-pit gold mine,
continue to  confirm the latest geological model for the Yalea deposit and
underlined the potential for an underground operation at the mine, the company
said today.


Thirteen boreholes of a 20 hole programme have been drilled on the deeper zones
of the orebody in the first phase of the SRK-led underground feasibility study
to upgrade the resource from the inferred to the indicated category.  Results
from four of these boreholes have been received and are tabled below. Further
results will be reported as they become available.


Borehole ID       From (m)    To (m)           Intersection     True width         Grade (g/t)
                                                  Width (m)            (m)
                                                                       

YDH153             647.00            654.22           7.22             5.00               5.28

YDH161             506.00            524.00           18.00            11.00              12.06

YDH162             290.00            313.36           23.36            23.36              2.29

YDH164             598.83            627.80           28.97            17.00              17.49


General manager exploration and evaluation Adrian Reynolds said that the current
drilling programme was designed to improve the delineation of the payshoots and
provided more detailed information about the higher-grade areas.


'Results to date show that we have intersected the low grade and high grade
zones as modelled, demonstrating that the orebody changes with depth,
incorporating a significant increase in grade and thickness which corresponds to
a steepening in the dip of the orebody,' he said.


Deep drilling is continuing at Yalea as well as the adjacent Loulo 0 deposit and
the results are being included with geotechnical, geohydrological and geothermal
data in the feasibility study.  The maximum depth of intersection is now 640
metres below surface at Yalea and 430 metres below at Loulo 0.


Meanwhile, construction of the Loulo mine is progressing on schedule and first
gold production from the open-pit operation is forecast for July 2005.


RANDGOLD RESOURCES ENQUIRIES:

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

randgoldresources@dpapr.com

Website: www.randgoldresources.com


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