6th Dec 2010 07:00
Nyota Minerals Limited ('Nyota' or the 'Company')
Commencement of Regional Drilling Programme
The Directors of Nyota Minerals Limited announce the commencement of an initial 2,000 metre (m) regional diamond drilling programme for its Ethiopian Billa-Guliso and Yubdo Exploration License Areas. The programme will initially focus on several high-grade gold targets identified from previous soil geochemistry, trench, diamond drilling and IP Resistivity/Chargeability anomalies generated by Nyota in 2010. Some of the prospect areas (Soyoma and Dina) show evidence of historic mining activities conducted in the early 1930s.
The 2,000 m diamond drilling programme will be undertaken with the recently commissioned fifth drill rig. The programme will consist of approximately 10 holes concentrated in the NE portion of the 'Guliso Trend' (map 1) and the SE portion of the Yubdo licence. The Guliso Trend is a 14 kilometre (km) by 2.5 km, NNE trending, structural corridor consisting of many targets with significant gold mineralization. Gold mineralization appears to be related to regional scale shear systems with high concentrations of quartz-carbonate-tourmaline-pyrite veins.
To view Guliso Trend (Map 1), please click on the following web link:
http://www.rns-pdf.londonstockexchange.com/rns/3935X_-2010-12-6.pdf
At the Soyoma Target (Map 2), where the drilling programme will begin, previous trench results have returned up to 14.2 m @ 8.2 grams per tonne (g/t) gold (Au) (table 1) over a 200 m strike-length. These trench results were also supported by high chargeable and high resistive IP geophysical anomalies. This anomaly continues to the WSW on the other side of a NNE cross-cutting structure which also contains several historic gold workings.
To view Soyoma Target (Map 2), please click on the following web link:
http://www.rns-pdf.londonstockexchange.com/rns/3935X_1-2010-12-6.pdf
The Dina Target (Map 3): which is located 2.5 km south-west of Soyoma. This target area was trenched and drilled during 2007 to 2009 by Minerva Resources Plc and Nyota respectively. The trench results returned up to 8.75 m @ 1.23 g/t Au (Table 1) and test borehole results returned up to 7.1 m @ 8.23 g/t Au (CUT). Historic mining activities extend along strike length of over 1,000 m. This NNE trend is supported by anomalous gold in soil, trench and IP Resistivity and Chargeability anomalies.
To view Dina Target (Map 3), please click on the following web link:
http://www.rns-pdf.londonstockexchange.com/rns/3935X_2-2010-12-6.pdf
Airborne Survey
The 44,500 line km of airborne geophysics over the Company's entire Ethiopian land holdings has been completed. The data is currently being compiled for analysis and interpretation. The results and recommendations for exploration activity will be available in the first quarter of 2011.
Continuing Regional Exploration
Nyota will continue regional exploration over its 3,550 km2 exploration licenses over the following months. Many other regional targets are considered to be high priority and are well deserving of continued exploration.
Table 1: Dina and Soyoma Trench Results | ||
Dina Trench Results | ||
Trench | Auriferous trench channel intersection | Host Lithology |
DTr-0 5 | 6 m @ 0.8 g/t Au (Including 1m @ 2.91 g/t Au) | Tourmaline bearing quartz vein and silicified schist with intercalation of quartz- tourmaline veinlets. |
DTr-12 | 1.15 m @ 1.8 g/t Au | Quartz vein and silicified schist with quartz veinlets. |
DTr- 13 | 4.16 m @ 0.76 g/t Au (Including 1.1 m @ 2.28 g/t & 0.5 m @ 9.74 g/t Au) | Tourmaline bearing quartz vein with silicified schist. |
DTr-17 | 8.75m @ 1.23 g/t Au (Including 3.15m @ 2.35 g/t Au; 3.0m @ 0.88 g/t Au & 3.0m @ 1.21 g/t Au) | Tourmaline bearing quartz vein with silicified schist. |
Soyoma Trench Results | ||
SOTr-3 | 2m @ 1.23 g/t Au, 2m @ 0.84 g/t Au 2m @ 0.88 g/t Au, 2m @ 0.40 g/t Au | Pyrite bearing quartz veins |
SOTr-5A | 4.8m @ 2 g/t Au (including 1.6 m @ 2.79 g/t Au). | Quartz veins and strongly weathered feldspar-sericite schist with quartz vein lets. |
SOTr-6 | 14.2 m @ 8.18 g/t Au (Including 1.4m @ 66.2 g/t Au; 1m @ 9.6 g/t Au; and 1m @ 3.7 g/t Au). | Quartz veins and strongly weathered feldspar-sericite schist with quartz vein lets. |
Table 2: Dina Diamond Drill Results | |||||
Hole Number | Depth From (m) | Depth To (m) | Intersection (M) | Grade (g/t Au) | Remarks |
DBH-01 | 87.65 | 91.65 | 4 | 0.28 | |
and | 92.65 | 100.4 | 7.75 | 0.28 | |
and | 119.95 | 120.95 | 1 | 0.47 | |
and | 152 | 153 | 1 | 0.6 | |
DBH-02 | 69.6 | 76.7 | 7.1 | 8.23 | Hi-grade cut at 31.1 g/t Au |
and | 125.75 | 126.86 | 1.11 | 0.5 | |
and | 136.23 | 140 | 3.77 | 2.4 | |
and | 145.34 | 146.4 | 1.06 | 0.94 | |
DBH-03 | 176.25 | 177.45 | 1.2 | 1.32 | |
and | 177.7 | 178.8 | 1.1 | 0.4 | |
and | 179.9 | 180.4 | 0.5 | 1.38 | |
For further information please contact:
Terry Tucker
Nyota Minerals Limited
+44 (0) 20 7379 5012
NOMAD
Richard Brown
Ambrian Partners Limited
+44 (0)20 7634 4709
BROKER
Guy Wilkes / Will Slack
Ocean Equities Limited
(+44) (0) 20 7786 4370
BROKER
Rory Scott
Mirabaud Securities LLP
(+44) (0)20 7878 3360
Or visit the Nyota website, nyotaminerals.com
The technical exploration and mining information contained in this Announcement has been reviewed and approved by Mr Terry Tucker (P.Geo). Mr Tucker has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity to which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves and as a qualified person under the AIM Guidance Note for Mining, Oil and Gas Companies. Mr Tucker is a registered Professional Geoscientist with the Association of Professional Engineers and Geoscientists of British Columbia, Canada.
Mr Tucker consents to the inclusion in this Announcement of such information in the form and context in which it appears.
Related Shares:
Nyota Minerals