Caracal Gold PLC (LSE:GCAT) has now kicked off reverse circulation and diamond drilling programmes at its flagship Kilimapesa gold mine in Kenya.
The drilling aims to rapidly increase the current JORC compliant resource above 2mln ounces, up from the current 670,000 ounces.
It comprises an initial sixteen-hole, 3,000 metre, diamond drilling programme and a 10,000 metre reverse circulation campaign on the project’s broader prospecting licence.
First assay results are due late in the first quarter of 2022.
"We are excited about the golden future ahead as we advance our extensive drilling programmes at Kilimapesa,” said chief executive Robbie McCrae.
“With the first assay results due in Q1 next year, there is plenty to look forward to as we move into the New Year.”
McCrae added: "The months ahead are crucial for Caracal as we not only advance our drilling campaign and continue our mine expansion activities but also integrate our latest acquisitions into our flourishing East African gold portfolio.”
Caracal noted that it recently boosted attributable gold resources to over 1.5mln ounces following the 100% acquisition of the advanced Nyakafuru project and a 75% interest in the Simba, in Lake Victoria gold fields, Tanzania.