6th Oct 2009 07:26
Nyota Minerals Limited ('Nyota' or the 'Company')
Completion of Independent technical review for the Tulu Kapi Project, Ethiopia
Highlights
- Venmyn's review demonstrates that the Tulu Kapi Project represents a highly prospective gold project within Ethiopia;
- Provides independent confirmation that drilling, logging and sampling has been carried out to a high standard;
- The general disposition of the Project makes Tulu Kapi an attractive, early stage, proposition;
- Numerous positive indications of mineralisation beyond the immediate area of Tulu Kapi offer good potential to add to the Project's mineral resources;
- No deleterious minerals such as arsenopyrite appear to be present, gold occurs in a free form and preliminary metallurgical testwork has shown high gold recoveries using conventional cyanidation processes;
The Directors of the Company are pleased to announce the completion of an independent technical review undertaken by Venmyn Limited ("Venmyn") of the Tulu Kapi gold project and surrounding exploration licences.
Venmyn was requested to produce an independent Technical Statement compiling all historical and recent reports and exploration results following the format required in terms of technical reporting required to 43 - 101 standards.
Venmyn is a South African based, independent mining and minerals management advisor specialising in the technical and economic evaluation of mineral projects and the strategic analysis of mining and mineral resource companies.
Melissa Sturgess, CEO of Nyota commented "Venmyn has a wealth of African experience and the Technical Review reaffirms our view that the Tulu Kapi Project and surrounding environs represents a highly prospective acquisition for Nyota. We will continue to work with Venmyn to ensure compliance with best industry practice and the Company's main objective remains to build a sizeable gold resource based around the advanced Tulu Kapi Project to a point where sufficient resources have been delineated to warrant feasibility, and secondly, to progress exploration on satellite targets within the three exploration licences held by the Company to demonstrate that it has the targets necessary to provide long-term growth and the development of one or more producing gold mines".
To view the Venmyn independent technical review, please click on the following web link:
http://www.rns-pdf.londonstockexchange.com/rns/2894A_1-2009-10-6.pdf
For further information please contact:
Melissa Sturgess
Nyota Minerals Limited
(+44) (0)78 2555 1397 or melissa.sturgess@nyotaminerals.com
In United Kingdom
Richard Brown/ Richard Greenfield
Ambrian Partners Limited
(+44) (0)20 7634 4700
Press enquiries
Charlie Geller or Leesa Peters
Conduit PR
+44 (0)20 7429 6604/ +44 (0)79 7006 7320
Or visit: www.nyotaminerals.com
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