Two drill rigs have arrived in the country as a new drilling campaign at Caracal Gold PLC (LSE:GCAT)’s Kilimapesa gold mine in Kenya begins.
The drilling programmes at Kilimapesa will commence immediately, with pre-drilling work including preparation of drill pads already well-advanced.
The focus will be on rapidly increasing the current JORC compliant resource of around 670,000 ounces to more than two million ounces through an initial 16-hole, 3,000-metre (m) diamond drill programme on the mining licence and a regional 10,000m reverse circulation (RC) campaign on the broader prospecting licence.
“The weeks and months ahead are crucial for Caracal as we not only commence our drilling campaign and continue our mine expansion activities but also as we pursue acquisition opportunities in the East Africa region, which are at an advanced stage with a number of parties. We look forward to updating the market on developments shortly," said Caracal chief executive Robbie McCrae.
Caracal is focused on becoming a major gold producer in East Africa, building an initial gold resource base totalling more than two or three million ounces and producing over 50,000 ounces per year from Kilimapesa and other gold assets as it expands its East African portfolio.