Penguin News FALKLAND ISLANDS Ross Road, Stanley, Falkland Islands • Tel: 22684 Fax: 22238 •
[email protected] • www.penguin-news.com • Every Friday V19. No 19 Price £1.00 Friday, September 14, 2007 Gold company to end The way of the future... Falklands exploration THE company which has been lot of other experts to check we prospecting for gold in the haven’t missed anything but the Falklands looks set to close its fact is that the deposit is just too operation at the end of the year. small...” Falklands Gold and Minerals He added, “I’m sad my visit Ltd (FGML) says no deposits of to the Falklands next month will economic interest have yet been be my last, unless something is found and, unless the remaining found between now and work programme identifies Christmas.” deposits likely to be of He said doing business in the commercial interest, it will cease Falklands had been, “very exploration activities in the comfortable, particularly Islands. compared to other parts of the The work programme in the world in which we have worked.” Falklands was designed to He paid tribute to the farmers identify the source of alluvial gold with whom FGML has worked recovered from streams. This gold and to the “super administration” is associated with a zone of tight, run by Director of Minerals, Phyl east-west folding which has Rendell. affected the Bluff Cove and Port Mr Linnell said the Falklands Sussex formations amongst other exploration had been far from a rock sequences. waste of time. When the company The company says these ceases work here it will have cash formations contain favourable balances of approximately £3.5 interbedded shales and sandstone million and an experienced units that could, given the correct exploration team fully equipped structural taps, be favourable with two drills and sample targets for Slate Belt type gold processing equipment.