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East Africa Metals Initiates Mine Permitting for Terakimti Oxide Gold Project, Ethiopia
VANCOUVER, BC--(Marketwired - June 29, 2016) - East Africa Metals Inc. (TSX VENTURE: EAM) ("East Africa" or the "Company") is pleased to announce the Company ha
About this update from East Africa Metals, Inc.
[{"type":"text","content":"VANCOUVER, BC--(Marketwired - June 29, 2016) - East Africa Metals Inc. (TSX VENTURE: EAM) (\"East Africa\" or the \"Company\") is pleased to announce the Company has initiated the mine permitting process for the Terakimti Oxide Gold Project at the Company's 70% owned Harvest Project located in the Tigray region of Ethiopia. The recent metallurgical test work results combined with previously disclosed technical information (see News Releases dated June 22, 2016 and October 27, 2015) and an internal Company engineering study in support of the development of a mineral resource estimate, the Company has now completed the technical, environmental and socio-economic documentation to qualify the Terakimti Oxide Gold Project for submission of a mine permit application to the Ethiopian Ministry of Mines, Petroleum, and Natural Gas. Terakimti Oxide Gold Project Profile: Mineral Resource : 1,125,000 tonnes grading 3.2 grams and 24.0 grams silver per tonne containing 107,000 ounces of gold and 812,000 ounces of silver; Simulated Heap Leach Recoveries: 75.3% gold and 39.7% silver Mining Method: Conventional open pit; Processing: Heap leaching to produce gold-silver dore; Proposed Mining Operation: The Terakimti oxide deposit is proposed as an open pit mining operation followed by heap leaching and on site processing to produce gold-silver dore. The combination of near surface oxide gold and silver mineralization, hosted in soft rock when compared to other deposits, high and rapid extraction of gold at coarse crush sizes in metallurgical testwork along with satisfactory percolation rates all support this strategy for the development of the Terakimti project. Project Infrastructure: The Terakimti project is located in the Tigray Region of Northern Ethiopia, approximately 600 kilometres north of the Addis Ababa, the capital of Ethiopia. The region has regular air service and very good, modern transportation and power infrastructure. The existing power and infrastructure located close to the project site enhances the development potential of the proposed operation. The proposed mining operation would utilize grid power for the project, for which the nearest high tension power line is approximately 7 kilometres away. Primary road access to the site is by paved highway from the town of Shire, 40 kilometres south of the project. Shire has a populat...