HomeCentral AfricaMwana's DRC gold resource up 14%

Mwana’s DRC gold resource up 14%

The Number One
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London, England — MININGREVIEW.COM — 16 February 2010 – Mwana Africa plc – a mining exploration and development company focusing on Zimbabwe, the Democratic Republic of Congo (DRC) and Ghana – has announced that gold resources at its Zani-Kodo gold mine in the DRC have shown a 14% increase over the resource estimates announced last year.

Revealing this development in a statement issued here, the company said its new indicated mineral resources contained 217 077 ounces of gold, and that the overall resource grade had been raised from 2.70 to 2.82 g/t..

“Drilling just nine additional holes has resulted in this substantial increase in indicated and inferred mineral resources, which indicates that our model is robust, and supports our confidence in the potential of the prospect,” chief executive Kalaa Mpinga said in the statement.

In September, the company “’ formerly known as African Gold Plc “’ said initial resource estimates at its Zani-Kodo project had been 190 684 ounces of gold.

The company explores for gold, nickel and other base metals, and diamonds in Zimbabwe, the DRC, South Africa and Ghana.

Shares of Mwana Africa were up 4.7% at 11.25 pence this morning on the London Stock Exchange.