2nd Oct 2013 09:58
LONDON (Alliance News) - Mwana Africa PLC Wednesday said exploration drilling at its Zani-Kodo project in the Democratic Republic of Congo has yielded positive results.
The multi-commodity mining and development company, with operations in Zimbabwe, the DRC and South Africa, said it has increased its total indicated resource by 16% to 634,000 ounces at 3.33 grams per tonne of gold at the site.
The company also said its total combined gold resource increased 13% and now stands at 2.975 million ounces at 2.43 grams per tonne.
Mwana also said that the recently discovered Lelumodi deposit at the site now holds 549,000 ounces at 1.84 grams per tonne of gold, a 24% increase on the company's last resource update in February.
The company also said it is conducting additional drilling at the site to upgrade its figures.
Mwana Africa shares were up 2.9% to 1.59 pence Wednesday.
By Tom McIvor; [email protected]; @TomMcivor1
Copyright 2013 Alliance News Limited. All Rights Reserved.
Related Shares:
Mwana Africa