Business
Kenyan Gold Project - Kilimapesa Gold Update
Kenyan Gold Project - Kilimapesa Gold Update.
About this update from Goldplat Plc
[{"type":"text","content":"\n \n\n\n\n\n Goldplat plc / Ticker: GDP / Index: AIM / Sector: Mining & Exploration\n 13 June 2011\n Goldplat plc ('Goldplat' or 'the Company')\n Kenyan Gold Project - Kilimapesa Gold Update\n\nGoldplat plc, the AIM quoted gold producer, is pleased to provide a positive\nupdate on its wholly owned gold mining operation ('Kilimapesa Gold'), located in\nthe historically producing Migori Archaean Greenstone Belt in western Kenya.\n\nOverview\n * Title Deed required for the issuing of the Mining Lease has been issued -\n final documentation delivered to the Commissioner of Mines and Geology in\n Kenya\n * Underground development to commence to increase existing ore resources\n * Extend current 250m underground strike exposure of auriferous quartz\n veins at Kilimapesa Hill target\n * Sub-incline to be developed to extend vein exposure at depth\n\n * Four key exploration targets identified for diamond drilling based on\n existing data and artisanal activity\n * Continuity of quartz veins at Vim/Rutha target confirmed by recent\n geophysical IP surveys - laterally continuous over 300-400m\n * Three parallel quartz veins mapped on surface beyond the Vim/Rutha target\n over 5km strike\n * Red Ray correlates positively to Kilimapesa Adit B -  rock chip samples of\n up to 10 g/t Au\n * Phase one of a two phased drilling programme has commenced - 28 shallow hole\n  drilling programme over 1,120m focussing on the prospective Vim/Rutha and\n RedRay target areas 2km south of Kilimapesa Hill\n\n * Aim to increase the JORC compliant resource base at Kilimapesa Gold to\n 500,000 ounces ('oz') of gold ('Au')\n\n\nGoldplat CEO Demetri Manolis said, \"We continue to make excellent progress at\nKilimapesa Gold and I am delighted to report that the first phase of our\ndrilling programme to seek to upgrade the resource towards the 0.5 million oz\nmark is underway.  The 28 shallow hole drilling programme is targeting two new\ntarget areas, Vim/Rutha and RedRay, which previous geological mapping, sampling\nand IP have identified as being highly prospective.  With the Title Deed now\nissued I am also pleased to report that we are now a short time away from being\nissued with the final Mining Lease which will trigger the commencement of full\nproduction, with an initial target of circa 5,000oz Au per annum.  These are\ne...