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Friday, 29th September 2006 (3399 views)

Newly-listed exploration and development company Shield Mining has announced its intention to explore several regions of West Africa for gold and other base metals.

Shield is seeking permission to explore areas that have lain dormant since the gold boom of the 1980s, as it believes there is potential for further deposits to be manipulated.

David Netherway, Shield Mining's chief executive, told Mining Weekly that work had already begun in some parts of western Africa and the company would pursue "an aggressive exploration programme".

"We are pleased to announce today that the company has already commenced work in Mauritania, including a reassessment of all geological data and some initial on-the-ground exploration," he said.

"Our initial target is the Conchetta-Florence licence in the north of the country, which includes a 160-kilometre strike length of shearhosted gold prospects."

The various exploration projects will be funded by A$1.5 million capital raising and use of existing cash reserves.

 

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