28th Aug 2018 13:35
LONDON (Alliance News) - Keras Resources PLC on Tuesday said it has started the 10,000 tonne bulk sampling metallurgical testwork programme at Nayega manganese project in northern Togo.
The mineral resource company said its mining & logistics contractor, Carriere Mines Travaux Public, prepared the site and began the mining phase of the sampling programme on time.
The second phase of the bulk sampling is scheduled to commence in September, upon arrival of the mobile screening unit.
Finally, the washing and scrubbing of the detrital and lateritic units of the Nayega orebody is planned to begin in mid-November.
"I am pleased to report that the bulk sample has commenced as planned," said Chief Executive Russell Lamming.
"I think it is important to reiterate that the entire project is fully funded, this includes a management fee for Keras which will cover overheads and salaries," added Lamming.
Keras also said Tuesday that Calidus Resources Ltd, of which it owns 35%, has agreed to sell gold rights over eight exploration licences.
The company will sell the rights to Pacton Gold Inc for CAD3.5 million, to be satisfied by the issue of 7 million shares in Pacton.
Shares in Keras Resources were trading 1.8% lower on Tuesday at 0.38 pence each.
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