5th Oct 2009 07:00
Nyota Minerals Limited ('Nyota' or 'the Company')
POSITIVE EXPLORATION RESULTS PRODUCE NEW TARGETS AT ETHIOPIA GOLD PROJECT
HIGHLIGHTS
- Previously unexplored licence areas shown to be highly prospective for gold
- Initial trenching at Billa Gulliso licence north of Tulu Kapi returns peak trenching result of 8.18g/t Au over 14.2 metres including 42.6 g/t Au over 2 metres
- Potential to expand currently known mineralization at Tulu Kapi into new areas of the licences
Prior to the takeover of Minerva by Nyota, detailed exploration had focused on less than 15 per cent of the Company's total Ethiopian licence areas. Since the takeover was finalised, one of Nyota's priorities has been to complete trenching work over selected sites within the licence areas in order to identify new drilling targets.
BILLA GULLISO LICENCE
Until recently, only a nominal amount of detailed exploration had taken place on the Billa Gulliso Exploration Licence situated immediately north of the Tulu Kapi Licence, the area over which the Company has to date delineated an inferred resource of 690,000 oz of gold.
New trench assay results have highlighted the potential for further Tulu Kapi type mineralisation over a number of prospects within this licence. Of particular interest are the Kobera and Soyoma targets.
Soyoma
At Soyoma, situated at the southern end of the Billa Gulliso licence, approximately 16km from the location of the Tulu Kapi inferred resource, trenching has exposed a number of mineralised zones showing excellent continuity over a strike length of approximately 300 metres. The zones remain open along strike to both the north and south. Trenching was initiated immediately south east of a 900m long shallow open cast mining operation presumed to have been operated by Italian miners in the 1930's. Trench SOTR6, located further along strike, returned the highest grade of 8.18g/t Au over 14.2m including an intersection of 2.4m at 42.6g/t Au.
Diamond drilling of the Soyoma Prospect will confirm the width of the mineralised zone and the orientation of the gold bearing quartz veins prior to completing RC infill drilling. Further trenching will be completed to test the strike extent of this new prospect.
Kobera
At Kobera, located in the NE quadrant of the Billa Gulliso licence, trenches were excavated over a total strike length of approximately 400 metres. Exposures in trenches indicate the presence of gold and sulphide mineralisation associated with quartz veins with a peak assay result of 3 metres at 3.77 g/t. The Company is encouraged by the presence of gold bearing quartz veins outcropping at surface over a significant strike length and further exploration of the surrounding area is warranted.
Melissa Sturgess, Chief Executive Officer commented "These exploration results are outstanding as they provide us with exciting new targets for drilling and the potential to expand the currently known mineralisation at Tulu Kapi into new areas of the licences."
To view a map showing the Exploration Licences, please click on the following web link:
http://www.rns-pdf.londonstockexchange.com/rns/2062A_-2009-10-5.pdf
TRENCH RESULTS AT SOYOMA
|
Trench No |
From (m) |
To (m) |
Metres (m) |
Grade (g/t Au) |
|
SOTR5A |
1.00 4.10 |
3.50 5.70 |
2.50 1.60 |
2.02 2.71 |
|
SOTR5B |
0.00 |
4.00 |
4.0 |
0.59 |
|
SOTR6 |
0.00 |
14.20 |
14.2 |
8.18 |
TRENCH RESULTS AT KOBERA
|
Trench No |
From (m) |
To (m) |
Metres (m) |
Grade (g/t Au) |
|
KTR10 |
9.00 |
16.80 |
6.90 |
1.34 |
|
KTR11 |
3.00 |
6.00 |
3.0 |
1.23 |
|
KTR13 |
6.00 9.80 |
9.00 11.80 |
3.0 2.0 |
3.77 1.11 |
|
KTR14 |
6.00 |
7.60 |
1.60 |
1.25 |
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 Guidance 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
Nyota Minerals Limited
(+44) (0)78 2555 1397 or melissa.sturgess@nyotaminerals.com
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
Related Shares:
Nyota Minerals