12th Nov 2009 07:01
Nyota Minerals Limited ('Nyota' or the 'Company')
NEW TARGETS GENERATED AT TULU KAPI GOLD PROJECT
HIGHLIGHTS
Two new drill targets have been identified adjacent to the existing 690,000 oz gold resource at Tulu Kapi
Reinterpretation of gold in soil geochemical survey data reveals a target for a potential northern extension to the Tulu Kapi Gold Project strike covering an estimated area of 300 metres by 300 metres;
Reinterpretation of geophysical data also delineates a new NW oriented target with features diagnostic of gold mineralisation at Tulu Kapi
Drilling will now prioritise these targets once the current planned drilling of the up dip extension to Tulu Kapi Main is completed
Nyota Minerals Limited (AIM:NYO) is pleased to report that two new drill targets have been identified adjacent to its existing 690,000oz Inferred JORC resource at Tula Kapi in Ethiopia.
Northern Extension Target
The first target is defined by gold in soil geochemical assay data which has established that the northern limit of the original Tulu Kapi drill grid (500m x 400m) can be extended by a further 300 metres of strike length over an estimated width of 300 metres. The data forms part of the geochemical survey that delineated the original Tulu Kapi Inferred resource.
In order to delineate an Inferred JORC resource from this target, Reverse circulation (RC) drilling will commence in the first quarter of 2010 once the current drill programme is complete. The Company proposes to excavate a number of trenches over this new target area to generate gold grade data prior to commencing drilling.
NW Target
The second new target follows the reinterpretation of historical geophysical survey data which has defined a NW oriented anomaly extending along a distance of 1.2 kilometres.
This target is oriented in the same direction as the Tulu Kapi Inferred Resource but it remains unclear whether this new area represents an extension to Tulu Kapi or an entirely new sub-parallel structure. To date, one 30 metre long trench has been excavated along the north-eastern edge of the anomalous zone, close to a former United Nations Development Programme borehole (1970's). This trench exposed features diagnostic of gold mineralisation similar to the attributes already existing at the Tulu Kapi Inferred Resource. Trench samples have been dispatched for gold assay.
The Company has scheduled for a series of trenches to be excavated perpendicular to the strike at 200 to 300 metre intervals to expose any quartz veining or albitisation that may be evident near to surface ahead of planned drilling.
To view a map showing the Tulu Kapi Targets, please click on the following web link:
http://www.rns-pdf.londonstockexchange.com/rns/3946C_-2009-11-12.pdf
Commenting on the latest discoveries, Melissa Sturgess, Chief Executive Officer commented "These two new targets reaffirm our view that the Tulu Kapi Project has the scope to build substantially on the existing Inferred Resource. Our objective remains to increase the Inferred Resource to the point where we feel confident to assess mining scenarios.
The current drill programme has been designed to ensure flexibility as we fully expect to generate further targets of merit as exploration moves ahead. For the foreseeable future we anticipate that drilling will continue to step out around the Inferred Resource and as additional trench assay data is generated, new priorities will be established that will take into account the scale of each target and the ease with which new resources can be generated".
The technical exploration and mining 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 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 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. N Chapman in his capacity as Competent Person has verified that all trench excavation, sampling and assaying has been undertaken using best practice. Trenches were excavated perpendicular to the strike of the mineralised structures, sample widths were determined by visual inspection of rock types and quartz veining/sulphide mineralisation and in each case, sufficient material was collected to provide a representative sample for assay. Mr. Chapman consents to the inclusion in this Announcement of such information in the form and context in which it appears.
For further information please contact:
Melissa Sturgess
CEO
Nyota Minerals Limited
(+44) (0)78 2555 1397 or [email protected]
Martyn Churchouse
Technical Director
Nyota Minerals Limited
(+44) (0) 7738 150 889 or [email protected]
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: http://www.nyotaminerals.com
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