Vector Resources has defined a significant new zone of gold mineralisation at its Adidi-Kanga Gold Project in the Democratic Republic of Congo (DRC).
Democratic Republic of Congo – Vector Resources’ review comprises 13 exploration targets that are conceptual in nature. These targets have a size range from 102Mt @ 3.8g/t Au for 12.5Moz to 117Mt @ 6.7g/t Au for a combined 25.2Moz.
The new exploration target is exclusive of the current 3.2 Moz Au (15.0 Mt at 6.6g/t) at Adidi-Kanga. This includes 46% in Indicated Category for 6.9MT @ 6.74g/t Au for 1.5 Moz and 8.1Mt @ 6.6g/t Au for 1.7 Moz in the Inferred Category.
Jewel in the crown
Commenting on the completion of the Adidi-Kanga Exploration Target, Vector Resources CEO Simon Youds said: “This new exploration target clearly points to the fact that Vector is sitting on a huge mineralised system within PE5105 that will eclipse the current 3.2Moz Adidi-Kanga deposit.
“The historical work completed by AngloGold was very thorough and has enabled our technical team to define this new zone of gold mineralisation that is showing all the early indications of hosting further high-grade mineralisation. We expect to unlock considerable value for Vector’s shareholders from the $520m AngloGold diligently invested in this area.
“Although Adidi-Kanga is certainly the jewel in the crown in terms of near-term development, this review illustrates that the exploration upside within the broader PE5105 concession is very compelling.
“With key technical staff now on board, our focus turns to rolling out our aggressive development strategy at Adidi-Kanga. We will be running the respective DFS and exploration programs side-by-side over the coming months and will surely give shareholders updates at regular intervals,” he stated.
Vector Resources’ Adidi-Kanga Gold Project is located in the Moto goldfields, 84km north-west of the town of Bunia. It comprises granted Mining License PE5105, one of 13 licenses extending over 5,033 km² that were the subject of extensive exploration activities by AngloGold Ashanti.
The detailed exploration and geological review recently completed by Vector Resources was largely based on previous work completed by AGA, who between 2005 and 2013 expended over $520m on exploration and development activities.
This includes 173,276m of diamond and RC drilling, completion of a feasibility study and the commencement of initial mine construction activities with the purchase and delivery to site of 70% of the mechanical equipment proposed to be installed under the feasibility study.