re: drilling and technical reports Extract from Technical...

re: drilling and technical reports Extract from Technical report:

"MGL is currently completing an extensive drilling program involving 4 drill rigs. The ongoing focus of the resource definition drilling will be to increase resource confidence in the remaining Inferred areas of the Durba-Chauffeur-Karagba Mineralised Trend.

Resource estimates have been undertaken for all the major identified deposits. MGL intends to complete infill drilling in order to upgrade the resource classifications to allow conversion to reserve and to continue exploration drilling over the remaining targets in the area.

MGL plans to progress through a Pre-feasibility Study and depending on the outcome, to a Bankable Feasibility Study.

Outside the prospects currently being defined by MGL drilling the Moto Gold Project Area remains highly prospective for gold, and it can be reasonably expected that new discoveries will be made.


Currently the Moto Gold Project is estimated to contain Indicated global resources above a 1g/t Au cutoff of 43.44 million tonnes at 2.7 g/t Au for 3.756 million ounces of gold and Inferred global resources 100.86 million tonnes at 3.8 g/t Au for 12.353 million ounces of gold contained in fourteen prospect areas".