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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...Read more
Nyota Minerals to start drilling on priority target near Tulu Kapi gold projectMarch 07 2011, 11:00am
Nyota Minerals Ltd (LON:NYO, ASX:NYO) said it is planning to start drilling at the Chalti gold prospect located less than 2 kilometres from its Tulu Kapi project in Ethiopia. This prospect forms part of a wider exploration effort at and around Tulu Kapi that the group is currently progressing.
Only last week, as part of the wider drilling efforts, Nyota reported further high-grade intersections into the Feeder Zone (FZ) which lies beneath the main ore body at Tulu Kapi.
The company has three diamond drills focusing on delineating the FZ with the express purpose of achieving sufficient drill hole density to expand and upgrade the current resource. Potentially the FZ has the capacity to positively influence the overall grade of the Tulu Kapi deposit and provide high-grade feed during the early years of future production.
Nyota recently completed a detailed structural analysis of Tulu Kapi and its immediate environs with both the interpretation of airborne geophysics and field mapping. Chalti sits within a structural setting that is a near replica of the structure found at Tulu Kapi.
The Chalti prospect hosts a Tulu Kapi style syenite body with a minimum mineralized strike length of approximately 1.2 kilometres demonstrating similar geochemical, geological and geophysical characteristics to Tulu Kapi.
A diamond drill programme will be undertaken to provide information confirming the mineralisation style and general orientation of mineralised lodes following which the company expects to undertake a more extensive drilling programme using a combination of both reverse circulation and diamond drilling.
Chalti is located sufficiently close to Tulu Kapi to be classed as a proximal target, and, subject to evaluation, could serve as a satellite operation feeding ore into any future centralised processing plant that may be developed.
Chalti is the first of a number of prospects located within a 25 kilometre radius of Tulu Kapi with the scope and potential to provide a source of additional feedstock to any future centralised plant to be located at Tulu Kapi.
Executive chairman Melissa Sturgess said: "The Chalti prospect and other similar proximal targets are being explored as priorities alongside the development activities at Tulu Kapi. Now that Nyota has announced a positive Preliminary Economic Assessment Feasibility Study, we have the ability to fast track prospects in the knowledge that all new discoveries and additions to the gold inventory found within 25km of Tulu Kapi have the potential to act as satellite gold feed sources for the Tulu Kapi processing plant."