Permission Granted to Commence Development and Mining in the Kenyan Gold Project
Goldplat plc, the AIM -quoted gold producer, is pleased to announce that the Government of Kenya has granted permission for its subsidiary, Kilimapesa Gold Ltd ('Kilimapesa Gold'), to commence operations at its mine in the Trans Mara District of SW Kenya. Kilimapesa Gold recently registered a Mining Location over the current mining area, which allows the operations to continue for a period of one year renewable. The Mining Lease grant process is expected to be completed in the near future in order to secure long term mining rights over the gold prospect.
Kilimapesa Gold's project is located in the potentially gold-rich Migori Archaean Greenstone Belt in Kenya . The Company aims to develop a small, profitable, gold mine, with an initial target of producing approximately 5,000 ounces of gold ('oz Au') per annum within 12 months of being granted its mining licence. The project currently has a JORC-compliant resource of 1.65Mt at 2.44 g/t Au for 129,000 oz of gold at a cut-off grade of 1 g/t of gold for all categories, but the Company is looking to increase this through further exploration.
Kilimapesa Gold is now focussed on implementing plans to increase its production capability and to this end, it intends to set up an elution plant and carbon regeneration kiln, which will allow Kilimapesa Gold to export gold bullion rather than concentrate. Kilimapesa Gold upholds its stated commitment to contribute to establishing an environmentally-conscious mining culture within the country and will rigorously work together with the Kenyan authorities to achieve this.
Goldplat CEO Demetri Manolis said, "This is very exciting news for us, enabling Kilimapesa Gold to commence operations. The management of Kilimapesa Gold are appreciative of the interest and support shown by the Minister for Environment and Mineral Resources Hon. John N. Michuki, EGH, MP, and will ensure that the progress of the exploration project and mining activity is communicated to him regularly. We look forward to updating shareholders on a regular basis on the project's progress including capacity build up and associated exploration programme."
For further information visit www.goldplat.com or contact:
|Demetri Manolis, CEO||Goldplat plc||Tel: +27 (0) 11 423 1203|
|James Joyce||WH Ireland Limited||Tel: +44 (0) 20 7220 1666|
|David Porter||WH Ireland Limited||Tel: +44 (0) 20 7220 1666|
|Bill Sharp||Alexander David Securities Ltd||Tel: +44 (0)20 7448 9820|
|David Scott||Alexander David Securities Ltd||Tel: +44 (0)20 7448 9820|
|Felicity Edwards||St Brides Media & Finance Ltd||Tel: +44 (0)20 7236 1177|
|Isabel Crossley||St Brides Media & Finance Ltd||Tel: +44 (0)20 7236 1177|
Goldplat plc is an AIM-listed gold producer with operations in Africa . Its strategy is to consolidate its position as a gold producer in Africa and build itself into a mid-tier gold company .
The Company has two recovery businesses based in South Africa and Ghana, which, by safely disposing mining by-products, fulfil an important aspect of the mines' environmental management programmes. The South African plant is located near the centre of the East Rand Goldfield and raw material feedstocks are sourced from many of the major South African mining companies, including AngloGold Ashanti , Goldfields, Harmony, DRD Gold and other smaller producers. The Ghana plant, located in the free port of Tema, provides access to raw materials from mines in Mali , Guinea , Burkina Faso , Benin , Cote D'Ivore, Senegal , the DRC and Mauritania , as well as Ghana .
Goldplat's strategy is to build itself into a mid-tier gold producer, through the acquisition of known deposits with targets of between 200,000 and one million contained ounces. Kilimapesa Gold is a wholly owned subsidiary of Goldplat and is developing the potential of the 213 sq km Lolgorien licence area located in the historically producing Migori Archaean Greenstone Belt in western Kenya . Kilimapesa Gold commenced initial production in January 2009 and an aggressive exploration and development programme resulted in a maiden JORC compliant resource being reported in October 2009.
Goldplat also has an option over the 246 sq km Nyieme Gold Project located in Burkina Faso, which includes known high-grade quartz vein structures, with drill core results showing up to 17.83 g/t gold over one metre and 11.67 g/t over five metres. A maiden resource was announced in December 2010 of 685,000 tonnes at 2.61 g/t Au for 57,501oz Au at a cut-off grade of 1.0 g/t Au for all categories but the Company hopes to increase this through further exploration.
Goldplat is a profitable, African gold recovery services company . . .More info...
Goldplat has two profitable gold recovery businesses in South Africa and Ghana . . .More info...
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