HomeEast AfricaGoldplat doubles its resource in Kenya

Goldplat doubles its resource in Kenya

Goldplat’s Kilimapesa
gold mine in western
London, England — 30 May 2012 – Goldplat plc “’ an AIM-listed gold production and exploration company operating in Kenya, Ghana, Burkina Faso and South Africa “’ has almost doubled the JORC-compliant resource at its Kilimapesa gold mine in Kenya.

A company report released here says the additional 118,173oz contributed is from the Red Ray target some 2km east of the plant site, and is based on 13 diamond drill holes averaging 50m per hole equating to a total of 651m.

It adds that the drilling programme at Red Ray has proved a strike length of 1km open to the east and west. Goldplat now intends to double this resource to achieve its aim of delineating 500,000oz at Kilimapesa, and to ensure that it carries sufficient gold reserves to produce at a rate of 10,000oz Au per year from 2013.

With ongoing drilling at Kilimapesa, management expects the 500,000oz to be delineated by the end of the calendar year, resulting in a further catalyst for value generation for Goldplat.

The company is using its position as a small, profitable gold producer from its gold recovery operations in Ghana and South Africa to become a mid-tier producer by acquiring conventional mining assets in Kenya and Burkina Faso.

Source: Goldplat plc. For more information, click here.