www.nyotaminerals.com
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.
Nyota Minerals reports further positive drilling results from Tulu Kapi gold project
Nyota Minerals (LON:NYO, ASX:NYO) has said that latest reverse circulation and diamond drilling results from its Tulu Kapi gold project oin Ethiopia have been positive, allowing it to proceed with increasing the inferred resource and establishing an indicated resource at the project.
Nyota has received fire assay results from a further 30 RC drill holes, including 20 infill holes drilled to increase the drill hole density over the existing resource and improve the level of confidence in the resource model. The company is looking to reclassify a significant proportion of the current inferred resource into the indicated category.
Along with infill drilling, the company received RC drilling results for preliminary expansion drilling to the west of the existing resource. Drilling results from the western limit of the resource included intersections of 6 metres grading 3.83 g/t gold, 32 metres at 3.55 g/t gold and 14 metres at 1.77 g.t gold. Nyota has intersected additional Lode 3 mineralisation in diamond drill hole TKBH-042, which is located within the existing resource and below defined lodes 1 and 2. The hole intersected 5 metres at 5.59 g/t gold.
The RC results included 14 metres grading 1.77 g/t (grammes per tonne) of gold, 23 metres 3.55 g/t gold, 8 metres at 4.84 g/t gold, 3 metres at 5.34 g/t gold, 3 metres at 5.68 g/t gold, 3 metres at 6.25 g/t gold, 4 metres at 6.95 g/t gold, 2 metres at 7.10 g/t gold, 1 metre at 9.79 g/t gold, 7 metres at 2.21 g/t gold, 6 metres at 3.83 g/t gold and 6 metres at 3.42 g/t gold.
The new assay data has been forwarded to SRK Consulting for inclusion in the Preliminary Economic Assessment Feasibility Study (PEA).
“We continue to make rapid progress in all areas of the exploration programme. Infill drilling has been completed and we are continuing toward increasing the inferred resource and establishing an indicated resource at the Tulu Kapi gold project,” said chief executive Melissa Sturgess.
The ongoing drilling programme at Tulu Kapi is designed to expand and upgrade the current Inferred JORC resource of 1.38 Moz (million ounces).
Back in June, the company announced the discovery of a high grade structure beneath the current inferred resource that intersected 8.7 metres averaging 8.9 g/t gold and also that lose-spaced ground magnetic and induced polarisation surveys conducted over the main Tulu Kapi deposit and surrounding area had revealed new extensions to the Tulu Kapi deposit.
Twenty-two infill and expansion holes drilling during the last quarter returned positive results, indicating the presence of additional mineralisation. Nyota has mobilized a second diamond drill rig to the site to assist with completing the infill drilling and over the current inferred resource and the drilling of high priority targets to form extensions to the main Tulu Kapi orebody.
Shares in the company were up nearly 3% in early trade.
