Armadale, the AIM-quoted investment company focused on natural resource projects in Africa, has commenced drilling at the Mpokoto gold project in the Katanga Province in the south of the Democratic Republic of the Congo.
Drilling aims to increase the resource potential of the known gold mineralisation at Mpokoto – current resource of 507 000 oz of contained gold and an Exploration Target of 10Mt-15Mt at 1.2g/t-1.5g/t Au. 2 400m of reverse circulation drilling over approximately 50 holes underway, intended to increase the overall Mineral Resource Estimate at the Project, raise the category of certain zones of target mineralisation and inferred resource to the indicated resource and test the strike extensions of higher grade mineralisation identified by previous drilling.
Additional Auger drilling to a shallow depth is also being undertaken to provide further metallurgical samples of shallow oxide ore, which is expected to support the first five years of gold production at Mpokoto. Metallurgical testing will be conducted to provide a better understanding of the ore body, increase confidence in the plant design and to assess the possibility of raising recoveries from the plant for the oxide ores, which presently stand at 90%.
Both drill programmes expected to be completed by the end of July 2014 with results available thereafter.
Armadale also continues to advance Phase 2 of the Scoping Study for Mpokoto and expects to publish results in Q3 2014. The company reports that the Phase 2 Scoping Study is well advanced targeting unweathered ore at greater than 30m depth and results are anticipated to further underpin Mpokoto’s value as a robust low cost gold development project with attractive economic fundamentals.
Justin Lewis, Director of Armadale, said: “Mpokoto has already proven its value as a low cost gold project, boasting highly attractive returns and near term production potential and I am confident that this exploration programme will further unlock the Project’s inherent value. Our primary goal is to commence commercial gold production before the end of 2015 and with results expected from Stage 2 of the Scoping Study, together with drill results, during the next quarter, we are looking forward to consecutive valuation events.”
Drilling begins at Armadale’s Mpokoto gold project
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