JOHANNESBURG (miningweekly.com) – Gold exploration company Nyota Minerals’ Tulu Kapi project, in Ethiopia, represented a “highly prospective” gold project according to an independent technical review completed by South African mining and minerals advisory firm Venmyn.
An initial inferred mineral resource of 13-million tons of ore grading 1,6 g/t above a cutoff grade of 0,5 g/t for a contained metal content of 700 000 oz of gold, had been determined, the company said.
This was based on work done on a small area of the greater license area, while a number of other prospective targets could add to the resource over time.
An infill drilling and surface-trenching programme to further improve the understanding and the distribution of mineralisation would soon start, as a basis for the estimation of an indicated mineral resource.
“The company’s main objective remains to build a sizeable gold resource based around the advanced Tulu Kapi project to a point where sufficient resources have been delineated to warrant feasibility, and secondly, to progress exploration on satellite targets within the three exploration licences held by the company to demonstrate that it has the targets necessary to provide long-term growth and the development of one or more producing gold mines,” Nyota CEO Melissa Sturgess said.
Nyota Minerals was formerly known as Dwyka Resources.
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