Nyota Minerals

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Nyota Minerals Limited (Nyota) is a mineral exploration and development company dual listed on the AIM Market of the London Stock Exchange (AIM:NYO.L) and the Australian Stock Exchange (ASX:NYO.AX). We are focused on the exploration and concurrent development of Tulu Kapi, our flagship project in Western Ethiopia. Total Inferred JORC Resource containing 1.46 million ounces of gold (15.96 million tonnes @ 2.84g/t gold). The Company is actively exploring several priority targets proximal to Tulu Kapi as well as regional gold targets in the northern blocks which Nyota believes have the potential to become future standalone projects.

Website:
http://www.nyotaminerals.com/
Phone:
+61 89 324 2955
Address:
Suite 2, 5 Ord Street, West Perth WA 6005, Australia.
Super Sector:
General Mining - Gold
Sector:
Mining
Industry:
Gold Mining
EPIC / Symbols:
LON:NYO, ASX:NYO
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Sector: Mining

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Current Statement

Nyota Minerals Limited is an Australian registered company listed on the Australian Stock Exchange and the AIM Market of London Stock Exchange.

 

Overview

• Well established in Ethiopia, the largest economy in East Africa and welcoming to foreign investors.

• Total land holdings of +3400 km2 in a new gold province in the west of the Country.

• Application submitted for large scale mining licence for the Tulu Kapi Gold Project.

 

Tulu Kapi

• JORC Compliant Mineral Resource of 1.46 million ounces. (4.67 million tonnes @3.04 g/t Indicated; 11.29 million tonnes @ 2.76 g/t Inferred).

• Exploration upside: southern, northern and “feeder zone“extensions.

• Economics show positive returns for a combined open pit and underground mine to feed a 2 mtpa processing plant.

• Definitive Feasibility Study scheduled for completion in mid 2012.

• Nyota’s Environmental and Social goals are consistent with Equator Principle guidelines and as required by the International Finance Corporation.

 

Three – Fold Focus of Activities

• Continued exploration and concurrent development of Tulu Kapi.

• Exploration of more than 20 targets proximal to Tulu Kapi to provide future feed to a centralised gold plant.

• Regional exploration in the Northern Blocks for future standalone projects.

 

 

Current Operations

Nyota holds six exploration licences (“EPL”) totalling +3400 km2 and has other applications pending. Four EPL’s;Tulu Kapi, Yubdo, Billa Gulliso and Ankore are located in the Tulu Kapi area (281 km2) and a further two licences, Brantham and Towchester (3147 km2) are located approximately 100 km north of Tulu Kapi. The current JORC Resource relates specifically to the Tulu Kapi licence. Exploration is operated on a number of fronts. A Proximal and Satellite programme is testing targets located within a 5 km radius of the planned Tulu Kapi mine site aimed at providing additional feed for the plant. A southern regional programme is targeting prospects situated in the Yubdo and Billa Gulliso EPL’s in a radius of 25 km of Tulu Kapi. A separate northern regional programme is testing prospects identified within the Brantham and Towchester EPL’s. 

Multiple targets have been generated within all of Nyota’s EPL’s and the Company has refined target prioritization such that an aggressive evaluation programme can commence in Q4, 2011. Current priorities within the southern EPL’s include the following: 

• Chalti: Extensive gold in soil target with coincident geophysical anomaly covering a surface area significantly larger than the current Tulu Kapi deposit;
• UNDP: Multiple drill intersections located adjacent to the Tulu Kapi Resource with scope for an expansion of the planned open pit;
• Chago: Large volcanic Massive sulphide target;
• Dina and Soyoma: 8.23 g/t Au over 7.1 m in drillhole, 8.2 g/t Au over 14.2 m in trench respectively.

Current northern EPL priority targets include: 

• Boka Serba: Skarn mineralisation with 10.5 km of strike length, abundant gossan development and ample evidence of gold mineralisation in heavy mineral concentrate samples;
• Tsole Mole: 2 km strike length of continuous quartz vein with gold and base metal mineralisation identified;
• Palaeo Abay: Elluvial/Alluvial prospect with over 17 km of strike and gold mineralisation identified in heavy mineral concentrates and production by local artisanal miners.








Technical

A JORC Compliant Resource of 15.96 mt at 2.84 g/t Au containing 1.46 Moz Au (combined Indicated and Inferred) was reported at the end of July 2011 located within the 8.44 km2 Tulu Kapi Licence. This resource update was accompanied by the construction of a new geological model confirming the presence of shallow dipping stacked lensoid gold mineralisation bounded within broad envelopes of albite alteration underpinned by a highgrade Feeder Zone style massive sulphide body located at depth. Preliminary mine design envisages ore extraction via a combination of both open pit and underground development. Subject to detailed evaluation, the Company expects underground sub-level open stoping with access via a decline to operate in parallel with open pit mining thereby providing highgrade feed (In-situ grade >5.50 g/t Au) to the processing plant during the early years of production. The Tulu Kapi drill programme is continuing to add further gold ounces by testing open pit extensions to mineralisation (NE & NW Extensions), cross-cutting high-grade structures as well as further extension to the high-grade Feeder Zone at depth and a new resource update is provisionally scheduled for early 2012. 

Metallurgical testwork indicates ore is amenable to standard carbon in leach processing. Engineering, hydro-geological and geotechnical studies are well-advanced ahead of Definitive Feasibility Studies scheduled to commence in Q4, 2011 once the Ministry of Mines has awarded a mining licence. 


 




Managment

 

Melissa Sturgess: Chairman

Melissa Sturgess holds a BSc and an MBA from the University of Western Australia and commenced her career with British Airways and Australian law firm Mallesons Stephen Jaques. Melissa then took a consulting role with Aquarius Platinum Limited (ASX, LSE: AQP) before moving full time into the corporate development of resources companies. She was appointed Chairman of Nyota Minerals Limited (ASX, AIM:NYO) in February 2009. Since then she has overseen the renegotiation of the Company’s interests in the Muremera Nickel Project in Burundi and the takeover of Minerva Resources Limited to access its highly prospective gold exploration projects in Ethiopia. Melissa was also a founding director of Sylvania Resources Limited (ASX, AIM: SLV). She was appointed Chairman of Carlton Resources Plc in October 2009.

 

 

Richard Chase: Chief Executive Officer

Richard Chase joined Nyota Minerals Limited on 16 May 2011. He holds a BSc (Hons.) in Geology from the University of Birmingham and a MSc in Exploration Geology from the University of Rhodes, South Africa. In addition he is a Member of Institute of Materials, Minerals and Mining and a Fellow of The Geological Society. He has 19 years’ experience in the resources sector: eight of those working in the mining industry as an exploration and mining geologist with SAMAX Resources, which was acquired by Ashanti Goldfields in 1998 for US$135 million, and the last eight with Ambrian Capital Plc., the AIM-listed natural resources investment bank. Richard was Managing Director of the Board of Ambrian Partners (a wholly owned subsidiary of Ambrian Capital plc) from September 2009 until May 2011.

 

 

David Pettman: Deputy Chairman

David Pettman became a partner of UK stockbroker Williams de Broe in 1976 and worked on the institutional sales desk for 20 years. In 1996, he began to specialise in the mining sector and was responsible for advising on the successful flotation of Aquarius Platinum Limited, Nyota Minerals Limited, Sylvania Resources Limited and Churchill Mining Plc.

 

 

Dr Evan Kirby: Non-executive Director

Dr Kirby was appointed to the Nyota board in November 2002. A metallurgist with 30+ years' experience, he worked in South Africa for 17 years primarily for Impala Platinum, Rand Mines and Rustenburg Platinum Mines before moving to Australia in 1992. In Australia, Dr Kirby worked for Minproc Engineers and Bechtel before starting his own consulting business a decade later. With his broad experience, he has been involved in the development of a wide range of mining and minerals processing projects in Africa and Australia, as well as other parts of the world.

 

 

Mike Langoulant: Finance Director

Appointed to the Nyota board in April 2005, Mr Langoulant is a chartered accountant with 20 years' experience in corporate administration and fundraising for public companies. Mike spent ten years with large international accounting firms, and has acted as chief financial officer, company secretary and non-executive director for a number of publicly listed companies. Mr Langoulant established his own consultancy firm in 1994.

 

 

Martyn Churchouse: Technical Director

Martyn is a geologist with an extensive background in exploration and mining in both Africa and Eastern Europe. He has significant experience in exploration, resource definition, mine development, production and corporate management.

 

 

Click here for further information

 

Corporate Information

Australia
Share registrar
Computershare Registry Services Pty Ltd
Level 2, Reserve Bank Building
45 St George's Terrace
Perth WA 6000
Australia

Telephone (+61) 8 9323 2000
Facsimile (+61) 8 9323 2033



United Kingdom
Share registrar
Computershare Services Plc
The Pavilions
Bridgewater Road
Bedminster Down
Bristol BS99 7NH
United Kingdom

Telephone (+44) 870 702 0002
Facsimile (+44) 870 703 6119 / 6101

 

Nominated advisor
Ambrian Partners Limited
Old Change House
128 Queen Victoria Street
London EC4V 4BJ
United Kingdom

Telephone +44 (0) 20 7634 4700
Facsimile +44 (0) 20 7634 4706

 

Broker
Mirabaud Securites LLP
21 St James' Square
London SW1Y 4JP UK

Telephone (+44) (0) 20 7321 2508
Facsimile (+44) (0) 20 7930 4066

Contact Information

UK office

Suite 5 Sicilian House

7 Sicilian Avenue

London WC1A 2QH

 

Telephone +44 (0) 20 7400 5740

Facsimile +44 (0) 20 7831 8323

 

Registered office

Suite 2, 5 Ord Street

West Perth WA 6005

Australia 

 

Telephone +61 (0) 8 9324 2955 

Facsimile +61 (0) 8 9324 2977 

 

PO Box 368

West Perth WA 6872

Australia 

 

email: info@nyotaminerals.com

 

Major Shareholders

Nyota Minerals Limited is incorporated in Australia and the rights of shareholders may be different from the rights of shareholders in a UK-incorporated company.

 

Click here to view Nyota’s Shareholder profile

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