5th Aug 2010 07:05
Nyota Minerals Limited ("Nyota or the "Company")
FURTHER POSITIVE DRILLING RESULTS AT TULU KAPI GOLD PROJECT IN ETHIOPIA
|
Highlights
·; Further positive results received from additional reverse circulation ("RC") and diamond drilling ("DD")
·; Positive RC results have been received for preliminary expansion drilling to the west of the existing resource
·; Highlight RC intersections include:
·; Lode 3 intersected with a 5m interval returning 5.59 g/t gold
·; All new assay data has been forwarded to SRK Consulting for inclusion in the Preliminary Economic Assessment Feasibility Study ("PEA")
|
Nyota Minerals Limited (AIM and ASX: NYO), which is focused on the exploration and development of gold and nickel projects in Africa, is pleased to announce further positive results from additional reverse circulation ("RC") and diamond drilling ("DD") at the Company's flagship Tulu Kapi Gold Project in Ethiopia.
The ongoing drilling programme at Tulu Kapi is designed to expand and upgrade the current Inferred JORC resource of 1.38 million ounces as announced on 6 May 2010.
Commenting on the latest results, Melissa Sturgess, Chief Executive Officer, commented: "We continue to make rapid progress in all areas of the exploration programme. Infill drilling has been completed and we are continuing toward increasing the Inferred resource and establishing an Indicated resource at the Tulu Kapi Gold Project."
Latest results
Since the Company's announcement of 17 June 2010, gold fire assay results have been received for a further 30 RC drill holes covering the Tulu Kapi Project. This includes 20 infill drilling holes to increase the drill hole density over the existing resource and improve the level of confidence in the resource model with the aim of enabling a significant proportion of the existing resource to be reclassified into the Indicated category. Assays for nine of the reported RC holes represent partial results only. The balance of the results will be available in due course.
In addition to infill drilling, Nyota has received positive RC drilling results for preliminary expansion drilling to the west of the existing resource.
Drilling at western limit of current resource
Hole TKRC-073 is located on the western limit of the central part of the current resource. This hole has intersected mineralisation beyond the previous limits defined by diamond drilling. Peak intersections in this hole include the following:
|
Borehole No |
Easting |
Northing |
Final Depth (m) |
Depth From (m) |
Depth To (m) |
Intersection Width (m) |
Grade (g/t Au) |
|
TKRC-073 |
780435 |
1004407 |
200 |
13.00 |
19.00 |
6.00 |
3.83 |
|
|
|
|
|
56.00 |
79.00 |
32.00 |
3.55 |
|
|
|
|
|
176.00 |
190.00 |
14.00 |
1.77 |
Table 1: Selective gold fire assay results for drill hole TKRC-073
Lode 3 Target Intersection
Nyota has intersected additional Lode 3 mineralisation in diamond drill hole TKBH-042. This hole is located centrally within the existing resource and below defined Lodes 1 and 2. Lode 3 mineralisation was first announced on 17 June, 2010.
|
Borehole No |
Easting |
Northing |
Depth From (m) |
Depth To (m) |
Intersection Width (m) |
Grade (g/t Au) |
|
TKBH-042 |
780500 |
1004410 |
401.00 |
406.00 |
5.00 |
5.59 |
Table 2: Gold fire assay results for intersection of Lode 3 mineralisation in TKBH-042
TO VIEW FIGURE 1: PLAN ILLUSTRATING LOCATION OF REVERSE CIRCULATION BOREHOLES REPORTED AND DIAMOND DRILL HOLE TKBH-042, PLEASE CLICK ON THE FOLLOWING WEB LINK:
http://www.rns-pdf.londonstockexchange.com/rns/5800Q_-2010-8-5.pdf
For further information please contact:
Melissa Sturgess / Terry Tucker
Nyota Minerals Limited
(+44) (0)78 2555 1397/(+44) (0) 78 3324 8466 or [email protected]/[email protected]
NOMAD
Richard Brown / Richard Greenfield
Ambrian Partners Limited
(+44) (0)20 7634 4700
BROKER
Guy Wilkes / Will Slack
Ocean Equities Limited
(+44) (0) 20 7786 4370
BROKER
Rory Scott
Mirabaud Securities LLP
(+44) (0)20 7878 3360
Press enquiries
Charlie Geller / Leesa Peters
Conduit PR +44 (0)20 7429 6604 / +44 (0)75 2823 3383
Or visit: http://www.nyotaminerals.com
Notes to editors
Full results
|
Borehole No |
Easting |
Northing |
Final Depth (m) |
Intersection From (m) |
Intersection To (m) |
Intersection Width (m) |
Grade (g/t Au) |
|
TKRC-039 |
780590 |
1004260 |
200 |
26.00 |
31.00 |
5.00 |
1.27 |
|
TKRC-040 |
Announced |
17 June 2010 |
|
|
|
|
|
|
TKRC-041 |
780397 |
1004396 |
200 |
0 |
4.00 |
4.00 |
0.57 |
|
|
|
|
|
41.00 |
42.00 |
1.00 |
1.19 |
|
TKRC-042 |
Announced |
17 June 2010 |
|
|
|
|
|
|
TKRC-043 |
780407 |
1004276 |
200 |
29.00 |
31.00 |
2.00 |
1.03 |
|
|
|
|
|
117.00 |
119.00 |
2.00 |
0.94 |
|
|
|
|
|
121.00 |
122.00 |
1.00 |
1.40 |
|
|
|
|
|
124.00 |
128.00 |
4.00 |
2.81 |
|
TKRC-044 |
780476 |
1005251 |
200 |
29.00 |
30.00 |
1.00 |
2.34 |
|
|
|
|
|
35.00 |
36.00 |
1.00 |
0.90 |
|
|
|
|
|
134.00 |
136.00 |
2.00 |
1.83 |
|
TKRC-045 |
780580 |
1005246 |
200 |
0.00 |
2.00 |
2.00 |
0.40 |
|
|
|
|
|
24.00 |
29.00 |
5.00 |
2.03 |
|
|
|
|
|
124.00 |
125.00 |
1.00 |
1.16 |
|
TKRC-046 |
780590 |
1005352 |
200 |
64.00 |
65.00 |
1.00 |
0.85 |
|
|
|
|
|
138.00 |
139.00 |
1.00 |
1.28 |
|
|
|
|
|
170.00 |
171.00 |
1.00 |
1.17 |
|
TKRC-047 |
780688 |
1005353 |
200 |
134.00 |
135.00 |
1.00 |
1.55 |
|
TKRC-048/49/50 |
Results Pending |
|
|
|
|
|
|
|
TKRC-051/52 |
Announced |
17 June 2010 |
|
|
|
|
|
|
TKRC-053 |
Results |
Pending |
|
|
|
|
|
|
TKRC-05455/56 |
Announced |
|
|
|
|
|
|
|
TKRC-057 |
780535 |
1004370 |
200 |
94.00 |
97.00 |
3.00 |
2.05 |
|
|
|
|
|
165.00 |
166.00 |
1.00 |
1.28 |
|
|
|
|
|
192.00 |
195.00 |
3.00 |
5.68 |
|
TKRC-058 |
780517 |
1005199 |
200 |
0 |
2.00 |
2.00 |
1.77 |
|
|
|
|
|
4.00 |
5.00 |
1.00 |
2.48 |
|
TKRC-059 |
780383 |
1004472 |
200 |
0 |
4.00 |
4.00 |
0.48 |
|
|
|
|
|
60.00 |
61.00 |
1.00 |
1.02 |
|
|
|
|
|
71.00 |
72.00 |
1.00 |
1.62 |
|
|
|
|
|
78.00 |
79.00 |
1.00 |
2.38 |
|
|
|
|
|
176.00 |
178.00 |
2.00 |
8.50 |
|
TKRC-060 |
Results |
Pending |
|
|
|
|
|
|
TKRC-061 |
780795 |
1005142 |
200 |
0 |
5.00 |
5.00 |
0.92 |
|
|
|
|
|
58.00 |
60.00 |
2.00 |
1.55 |
|
|
|
|
|
80.00 |
81.00 |
1.00 |
1.57 |
|
|
|
|
|
178.00 |
179.00 |
1.00 |
1.99 |
|
TKRC-062 |
780709 |
1005130 |
200 |
79.00 |
80.00 |
1.00 |
2.58 |
|
TKRC-063 |
780499 |
1004640 |
202 |
6.00 |
11.00 |
5.00 |
1.28 |
|
|
|
|
|
43.00 |
44.00 |
1.00 |
1.13 |
|
|
|
|
|
73.00 |
75.00 |
2.00 |
2.37 |
|
|
|
|
|
99.00 |
100.00 |
1.00 |
1.30 |
|
|
|
|
|
105.00 |
106.00 |
1.00 |
1.05 |
|
|
|
|
|
107.00 |
108.00 |
1.00 |
1.18 |
|
|
|
|
|
109.00 |
111.00 |
2.00 |
1.92 |
|
|
|
|
|
115.00 |
117.00 |
2.00 |
1.21 |
|
|
|
|
|
120.00 |
122.00 |
2.00 |
2.00 |
|
|
|
|
|
131.00 |
135.00 |
4.00 |
2.67 |
|
|
|
|
|
148.00 |
155.00 |
7.00 |
2.21 |
|
|
|
|
|
182.00 |
183.00 |
1.00 |
1.30 |
|
TKRC-064 |
780561 |
1004712 |
200 |
3.00 |
5.00 |
2.00 |
0.88 |
|
|
|
|
|
21.00 |
24.00 |
3.00 |
5.34 |
|
|
|
|
|
36.00 |
39.00 |
3.00 |
1.13 |
|
|
|
|
|
40.00 |
42.00 |
2.00 |
1.03 |
|
|
|
|
|
45.00 |
47.00 |
2.00 |
1.24 |
|
|
|
|
|
95.00 |
97.00 |
2.00 |
1.46 |
|
|
|
|
|
133.00 |
135.00 |
2.00 |
1.46 |
|
|
|
|
|
144.00 |
146.00 |
2.00 |
2.31 |
|
|
|
|
|
149.00 |
151.00 |
2.00 |
2.20 |
|
|
|
|
|
192.00 |
193.00 |
1.00 |
1.64 |
|
|
|
|
|
196.00 |
198.00 |
2.00 |
1.54 |
|
TKRC-065 |
780480 |
1004457 |
200 |
0 |
3.00 |
3.00 |
1.23 |
|
|
|
|
|
91.00 |
93.00 |
2.00 |
1.37 |
|
|
|
|
|
94.00 |
95.00 |
1.00 |
1.39 |
|
|
|
|
|
149.00 |
151.00 |
2.00 |
2.63 |
|
|
|
|
|
165.00 |
166.00 |
1.00 |
1.11 |
|
|
|
|
|
190.00 |
198.00 |
8.00 |
4.84 |
|
TKRC-066 |
780556 |
1004496 |
200 |
121.00 |
123.00 |
2.00 |
7.10 |
|
|
|
|
|
171.00 |
174.00 |
3.00 |
1.14 |
|
TKRC-067 |
780632 |
1004557 |
200 |
37.00 |
39.00 |
2.00 |
4.56 |
|
|
|
|
|
46.00 |
47.00 |
1.00 |
1.17 |
|
|
|
|
|
116.00 |
118.00 |
2.00 |
1.41 |
|
TKRC-068 |
780664 |
1004580 |
200 |
105.00 |
106.00 |
1.00 |
2.32 |
|
TKRC-069 |
780680 |
1004622 |
192 |
2.00 |
3.00 |
1.00 |
0.93 |
|
|
|
|
|
86.00 |
88.00 |
2.00 |
4.02 |
|
|
|
|
|
159.00 |
160.00 |
1.00 |
1.43 |
|
TKRC-070 |
Results |
Pending |
|
|
|
|
|
|
TKRC-071 |
780397 |
1005175 |
200 |
0 |
1.00 |
1.00 |
0.47 |
|
|
|
|
|
5.00 |
6.00 |
1.00 |
0.52 |
|
TKRC-072 |
780509 |
1004475 |
202 |
0 |
2.00 |
2.00 |
1.09 |
|
|
|
|
|
54.00 |
57.00 |
3.00 |
6.25 |
|
|
|
|
|
121.00 |
123.00 |
2.00 |
3.88 |
|
|
|
|
|
132.00 |
133.00 |
1.00 |
1.31 |
|
|
|
|
|
137.00 |
138.00 |
1.00 |
3.19 |
|
|
|
|
|
181.00 |
182.00 |
1.00 |
9.79 |
|
|
|
|
|
197.00 |
198.00 |
1.00 |
1.17 |
|
|
|
|
|
|
|
|
|
|
TKRC-073 |
780435 |
1004407 |
200 |
0 |
1.00 |
1.00 |
1.07 |
|
|
|
|
|
10.00 |
11.00 |
1.00 |
1.47 |
|
|
|
|
|
13.00 |
19.00 |
6.00 |
3.83 |
|
|
|
|
|
36.00 |
38.00 |
2.00 |
1.50 |
|
|
|
|
|
56.00 |
79.00 |
23.00 |
3.55 |
|
|
|
|
|
176.00 |
190.00 |
14.00 |
1.77 |
|
TKRC-074 |
780475 |
1004536 |
200 |
0 |
6.00 |
6.00 |
3.42 |
|
|
|
|
|
23.00 |
24.00 |
1.00 |
1.80 |
|
|
|
|
|
28.00 |
32.00 |
4.00 |
1.65 |
|
|
|
|
|
86.00 |
90.00 |
4.00 |
6.95 |
|
|
|
|
|
150.00 |
151.00 |
1.00 |
2.24 |
|
TKRC-075 |
780437 |
1004596 |
200 |
61.00 |
63.00 |
2.00 |
1.09 |
|
TKRC-076 |
780508 |
1004564 |
200 |
0 |
4.00 |
4.00 |
2.88 |
|
|
|
|
|
6.00 |
11.00 |
5.00 |
1.40 |
|
|
|
|
|
12.00 |
16.00 |
4.00 |
1.65 |
|
|
|
|
|
45.00 |
51.00 |
6.00 |
1.58 |
|
TKRC-077 |
780575 |
1004617 |
200 |
0 |
3.00 |
3.00 |
1.57 |
|
|
|
|
|
14.00 |
16.00 |
2.00 |
1.09 |
|
|
|
|
|
41.00 |
45.00 |
4.00 |
2.18 |
|
|
|
|
|
47.00 |
52.00 |
5.00 |
2.36 |
|
|
|
|
|
53.00 |
60.00 |
7.00 |
2.87 |
|
|
|
|
|
148.00 |
150.00 |
2.00 |
1.58 |
|
|
|
|
|
170.00 |
174.00 |
4.00 |
1.90 |
|
TKRC-078 |
780531 |
1004688 |
200 |
0 |
5.00 |
5.00 |
1.90 |
|
|
|
|
|
8.00 |
9.00 |
1.00 |
5.74 |
|
|
|
|
|
56.00 |
57.00 |
1.00 |
1.19 |
|
|
|
|
|
68.00 |
70.00 |
2.00 |
1.67 |
|
|
|
|
|
108.00 |
110.00 |
2.00 |
1.46 |
|
|
|
|
|
125.00 |
130.00 |
5.00 |
2.68 |
|
|
|
|
|
132.00 |
134.00 |
2.00 |
1.26 |
|
|
|
|
|
137.00 |
138.00 |
1.00 |
3.04 |
|
|
|
|
|
157.00 |
159.0 |
2.00 |
1.19 |
|
TKRC-079 |
780540 |
1004590 |
200 |
0 |
3.00 |
3.00 |
7.66 |
|
|
|
|
|
7.00 |
10.00 |
3.00 |
1.62 |
|
|
|
|
|
51.00 |
54.00 |
3.00 |
1.70 |
|
|
|
|
|
70.00 |
73.00 |
3.00 |
2.73 |
|
|
|
|
|
125.00 |
127.00 |
2.00 |
3.91 |
|
|
|
|
|
131.00 |
132.00 |
1.00 |
1.03 |
|
|
|
|
|
145.00 |
147.00 |
2.00 |
2.31 |
|
|
|
|
|
149.00 |
151.00 |
2.00 |
2.63 |
|
|
|
|
|
195.00 |
196.00 |
1.00 |
1.84 |
|
TKRC-080 |
780501 |
1004813 |
200 |
0 |
2.00 |
2.00 |
1.27 |
|
|
|
|
|
159.00 |
160.00 |
1.00 |
1.85 |
|
TKRC-081 to 090 |
Results |
Pending |
|
|
|
|
|
|
TKRC-091 |
780373 |
1004517 |
200 |
0 |
5.00 |
5.00 |
2.09 |
|
|
|
|
|
10.00 |
12.00 |
1.00 |
1.75 |
|
|
|
|
|
13.00 |
24.00 |
11.00 |
2.45 |
|
|
|
|
|
31.00 |
32.00 |
1.00 |
2.04 |
|
|
|
|
|
51.00 |
54.00 |
3.00 |
1.07 |
Table 3: Gold fire assay results for RC drill holes TKRC - 039, 41, 43, 44, 45, 46, 47, 57, 58, 59, 61, 62, 63, 64, 65, 66, 67, 68, 69, 71, 72, 73, 74, 75, 76, 77, 78, 79, 80 and 91
Notes on resource statement
The Mineral Resource estimate for the Tulu Kapi Project was updated in May 2010 and all resources have been categorised as JORC Compliant Inferred resources.
Totals for all major parameters have been rounded to two significant figures.
The Tulu Kapi deposit is situated within the Arabian-Nubian shield composed of Archaean gneiss and Proterozoic meta-sedimentary successions intruded by Pan African granites, mafics and ultramafics. Mineralisation is exclusively hosted by albitised syenite and quartz veins. The strike length and lateral extent of mineralisation remains to be confirmed as further drilling is taking place over known extensions to mineralisation where outcrop exists, over anomalous gold in soil geochemical targets and on ground magnetic and resistivity surveys.
The drilling database for the current 1.38m ounce Inferred resource is based on a total of 34 NQ size diamond drill holes and a further 23 reverse circulation ("RC") drill holes based on a grid with approximate drill hole collar locations based on 40m x 80m centres.
Drilling has been undertaken in two programmes, the initial programme funded and managed by Minerva Resources Limited, the previous owner-operator of the Tulu Kapi Project, was exclusively a diamond drill programme and the second programme was an RC programme completed on behalf of Nyota by Geosearch International.
All core samples have been logged according to internationally accepted standards with core loss and other factors likely to impact on resource estimation duly recorded. RC sample weights were regularly measured for selective and representative 1m sample intervals and independent QA/QC assessment of both drilling practices and sample collection procedures has taken place. As a result, sampling procedures and sample recoveries are considered accurate by Nyota..
RC and diamond drilling samples were analysed for gold by fire assay methods with AAS finish at ALS Chemex Laboratory in Johannesburg. Approved protocols, approved by independent consultant Venmyn Rand, were applied with regard to insertion of standards, blanks and duplicate assays for every suite of samples submitted per drill hole. Independent consultants have verified that sufficient QAQC and data validation has been undertaken to verify the integrity of the assay data. All on site coarse and pulp rejects have been logged and stored for future reference.
RC and diamond drill-hole collars have been variably surveyed by total station DGPS or hand held methods. As the Project develops, more detailed surveys will be completed.
All drill-holes have down hole surveys.
Geological modelling was based on a topographical wireframe provided by Nyota and two separate wireframe surfaces were subsequently generated by the company's independent consultant. Grade interpolations were carried out in three separate domains, namely, fresh albitised zones in drill core and two albite zones above and below the water table. The relationship between albitisation and gold mineralisation provides the basis upon which the model was generated.
Block modelling was based on 40m by 40m in plan view by 10m in the vertical plain. A second model was created for RC drill data beneath the water table to generate a 3D block model defining the different domains used in estimation. Investors should note that block size can affect the mineral resource quantity and quality and further testing will take place to optimise block size.
Resource estimation for the current Inferred Resource is based on an albite selectivity model to generate a total Inferred Resource of 1.38 million ounces of gold at a 0.50g/t Au cut-off resulting in a total resource of 25 million tonnes at a grade of 1.68g/t Au. The selectivity model assumes that gold mineralisation is exclusively associated with albitised portions of the host syenite which based on available evidence is deemed accurate and representative. Investors should note that the model parameters may change over time as additional infill drill data is generated. The combination of new drill data and its subsequent interpretation will impact on block size and there may be scope to develop a range of block size options which will give a number of modelling scenarios ranging from a more refined selective mining scenario to a low-grade bulk mining scenario.
The estimate of mineral resources may be materially affected by metallurgical, environmental, permitting, legal, marketing or other relevant issues.
Notes on resource modelling approved by Venmyn Rand
The technical information contained in this announcement has been reviewed and approved by Mr. RN Chapman. Mr. Chapman has sufficient experience which is relevant to the style of mineralization 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 Note for Mining, Oil and Gas Companies. Mr. Chapman is an employee of Mineral Exploration Management Limited, an independent geological consultancy established in 2005 and is a member of the Australasian Institute of Mining and metallurgy (Aus.I.M.M). Mr Chapman consents to the inclusion in this announcement of such information in the form and context in which it appears.
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