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SAVANNAH GOLDFIELDS LIMITED Capital/Financing Update 2003
65880_rns_2003-09-18_03db2ef0-1b10-48d4-a588-51cd3f64a1bf.pdf
Capital/Financing Update
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RENISON CONSOLIDATED MINES NL
ACN 003 049 714
Mail Address PO Box 7066 Riverside Centre Brisbane Old 4001
Level 30 Riverside Centre 123 Eagle St Brisbane Old 4000
Phone: (07) 3832 6488 Fax: (07) 3832 6261 Email: [email protected]
ASX ANNOUNCEMENT
19 SEPTEMBER 2003
GOLD PRODUCTION COMMENCES AT OUEST 29 GOLD MINE
The Directors of Renison Consolidated Mines N.L. are pleased to advise that the pouring of the first gold dore bullion bar occurred yesterday at the Company's Quest 29 gold mine in the Northern Territory. This completes the final stage of commissioning of the project.
Mining commenced at Ouest 29 in late July and over 100,000 tonnes of ore has now been mined and stacked on the dump leach pads. A substantial portion of the mined ore is now being irrigated. The Ouest 29 gold mine has been brought into production within 3 months of the funding being raised to commence development and has been achieved within budget.
The commencement of gold production at Quest 29 is a further significant step by the Company in its continued development as an emerging gold producer through the development of its considerable Northern Territory mining assets.
The Company is also continuing to progress the nearby Tom's Gully gold project with 7 diamond drill holes now completed in the current drilling program. Core is being cut for sampling and assay after completion of the structural logging of the holes. Assay results from the initial drill holes are expected during September.
For and on behalf of the Board
JPK Marshall Company Secretary Brisbane, 19 September 2003
For further information contact:
Richard Seville or Stephen Bizzell Phone: (07) 3832 6488 Fax: $(07)$ 3832 6261 E-Mail: [email protected] Website: www.rcm.com.au