Business
Kenya Update
Kenya Update.
About this update from Goldplat Plc
[{"type":"text","content":"\n \n\n\n\n Goldplat plc / Ticker: GDP / Index: AIM / Sector: Mining &\n Exploration\n7 April 2009\n\n Goldplat plc ('Goldplat' or 'the Company')\n Update for Kilimapesa Gold Mining Project in Kenya\n\nGoldplat plc, the AIM quoted gold producer, is pleased to report that\ndevelopment and production at its Kilimapesa gold mining project\n('Kilimapesa Gold') in Kenya, a 50-50 joint venture with\nInternational Gold Exploration AB, is progressing in line with\nmanagement expectations. The Company is focused on establishing\nadditional gold resources and upgrading the total resource to be\nJORC-compliant by the end of 2009. The current small scale gold\nproduction is primarily intended to fund this early development\nwork.\n\nOverview\n\n\n * Focused on maximising the ore resource through development of the\n orebody\n * Revenue from the processing of development ore plus some high\n grade tailings anticipated to cover the operating cost of the\n mine - first shipment of loaded carbon and concentrates planned\n for the end of April 2009\n * Underground development intersected two new veins which are\n robust in nature - one vein returns a stretch value of 15m of 9.3\n g/t Au over a width of 115cms\n * Grade control samples taken after every blast are returning\n values of up to 120 g/t Au\n * Adit B Diamond Drilling ('DD') programme confirms veins at depth\n below current underground workings with encouraging values of up\n to 4.6 g/t Au over 150 cms\n * DD commenced at the Meghor target area, which has potential for\n high grades based on local artisanal returns\n * Investigation of other known high grade areas with surface mining\n potential continues\n * Stockpiling of artisanal tailings continues - 1,700 tonnes of\n tailings currently in stockpile and a further 1,500 tonnes\n secured by contracts\n * Environmental Impact Assessment ('EIA') submitted to the Kenyan\n authorities for granting of a full Mining Licence, in final\n stages of assessment\n\n\nGoldplat CEO Demetri Manolis said, \"With the early production at\nKilimapesa Gold performing well and our underground development\nproducing excellent results underpinning the increasing potential of\nthe project, I believe we are well placed to build the project into a\nhighly profitable gold mining operation. With the current favourable\ngold outlook and consensus pointing to...