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Company Announcements
International Goldfields Limited
Company Announcement: Air Core Drilling Commences, Mali South
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15th May 2012
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International Goldfields Limited is a gold exploration company focused on organic growth of gold resources in emerging mining districts of Brazil, Mali, Ivory Coast and Western Australia. In Mali, IGS has received results for the Company’s first drilling campaign, finalising the initial tests on a few select areas within extensive surface anomalies of the Diendo and Tanala Project areas. Results of the localised drilling has confirmed gold anomalism and structures with shear textures and associated pervasive foliation. The drilling has also redefined geological interpretations where surface mapping is complicated by the regolith environment and the results of the work have assisted on refining targets for continued exploration work.

As reported in the media, the junta that removed democratically elected Amadou Toumani Touré in late March, appointed an interim civilian government following regional pressure for the military to relinquish rule in the country. The interim government is led by Prime Minister Cheick Modibo Diarra, who reportedly is tasked with maintaining constitutional law in Mali, and taking the country to democratic elections. However, the junta still wields power and is heavily involved in defending the interim government from counter coup attempts.

At the time of this release, the situation in the country (other than continuing rebel conflict in the remote northern area of Mali) is calm, and the interim government is recognised locally and regionally and actively working towards stabilising the country. The main airport at Bamako has resumed normal domestic and international passenger operations.

Multiple field crews continue to actively work at three of the seven projects in Mali South completing work programs on all projects in quick succession. Initial Auger programs have been completed on all seven project areas in Mali south in the past six months and additional auger drilling will be completed at the Kounian and Balena projects before the conclusion of auger drill activities for the 2011-12 field season in late May. First pass surface geochemical exploration continues at the newly acquired Sotian licence to define prospective areas in this large land holding of favourable Birimian greenstone.

The combination of auger, soil, and termitaria sampling this season has been effective in prioritising targets for IGS, and the area for future concentrated exploration activities is greatly reduced, providing drill-ready targets at Diendo and Nangalasso areas for testing in May.

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