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Simmer And Jack Mines Limited - More prospecting licences for Simmers

Release Date: 18/07/2006 15:03
Code(s): SIM
Wrap Text

Simmer And Jack Mines Limited - More prospecting licences for Simmers SIMMER AND JACK MINES LIMITED (Incorporated in the Republic of South Africa) (Registration number 1924/007778/06) ("Simmers" or "the company") Share code: SIM ISIN: ZAE000006722 ISSUED ON BEHALF OF SIMMER & JACK MINES, LIMITED 17 July 2006 MORE PROSPECTING LICENCES FOR SIMMERS The Department of Minerals and Energy has granted a second prospecting right in the Sabie area to Simmer & Jack Mines, Limited (Simmers). The prospecting licence was awarded to Simmers" subsidiary, TGME Limited, and gives the company the go-ahead to explore seven farms including the Farm Elandsdrift. All seven are in the vicinity of the Farm Rietfontein, for which another Simmers subsidiary, Sabie Mines (Pty) Limited, was granted the prospecting rights last month. Simmers CEO Gordon Miller said that the prospecting licence covered a mixture of Greenfield and Brownfield projects. "Just as at Rietfontein, mining at various levels of intensity has taken place on all these properties at some point in the last 100 years. We will however be treating some of the properties as Greenfield projects, as new technology means that we have better options available to us in terms of finding and extracting the ore body," said Miller. Prospecting on the farms will begin with immediate effect. According to Miller, the initial focus will be a dump re-treatment operation at Elandsdrift. The dumps are a result of previous mining activity on the farm and are situated close to a river. By re-treating the dumps, Simmers will remove a source of pollution in the local river system, contributing to the clean-up of the environmental impact caused by historic mining. "This is an approximately 300 000 tonne deposit which can be brought to fruition very quickly. Once the bankable feasibility study has been approved, we will apply for the Mining Right to re-treat the dumps and re-locate the tailings away from the river. The project has a lifespan of about nine months and the proceeds will be used to fund the continued prospecting in this historically rich gold field," said Miller. BEE company Mine Reclamation & Supports (Pty) Limited, will be responsible for the design, building and operation of the plant at Elandsdrift. FOR FURTHER INFORMATION, PLEASE CONTACT GAIL STRAUSS ON 084 777 4060 Date: 18/07/2006 03:03:24 PM Supplied by www.sharenet.co.za Produced by the JSE SENS Department

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