27th Jul 2015 08:50
LONDON (Alliance News) - Nyota Minerals Ltd on Monday said it continues to evaluate new opportunities to diversify its commodity and geographic spread whilst it progresses its flagship Ivrea nickel and copper project in Italy.
The miner said it has made "rapid-progress" at the Ivrea project, in which it holds a 70% stake. The company said the airborne electromagnetic survey has been completed and delineated a five-kilometre-long conductivity anomaly linking sites of previous mining activity at the Alpe di Laghetto prospect at the project.
"I am delighted with the rapid progress made in delivering on our exploration objectives set at the time of acquiring the Ivrea Project. The results to date have been very encouraging, validating ongoing exploration activity," said Chief Executive Richard Chase.
At its other assets, the company said it is still trying to sell the blocks it holds in northern Ethiopia. It is currently in talks with one potential buyer who entered into an option agreement to purchase the blocks before the end of September, it said.
"Management continues to evaluate new opportunities to diversify commodity and geographic spread," said the company.
Nyota shares were up 11% to 0.0500 pence per share on Monday morning.
By Joshua Warner; [email protected]; @JoshAlliance
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