AngloGold Conducting Fortitude Gold Mine Study
The study is expected to be completed in June 2009. Pending results of the study, AngloGold Ashanti and Midas have not entered into any commercial agreement concerning a possible relationship or future development.
The Fortitude gold deposit and adjacent satellite deposits have JORC compliant contained mineral resources totaling 5.327 million mt, grading 2.3 g/mt, for 388,000 oz of contained gold at a 1 g/mt gold cutoff. The deposit has a strike length of more than 1,000 m, with a relatively highergrade core area of 600 m. The deposit is completely oxidized to a depth of 30 m and partially oxidized to 70 m. The mineralized material is amenable to conventional CIL processing, with 94% recovery.