Business
Kenyan Gold Update
Kenyan 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 &\n Exploration\n26 October 2007\n Goldplat plc ('Goldplat' or 'the Company')\n Kenyan Lolgorien Licence Area Update\n\nGoldplat Plc, the AIM listed gold producer, is pleased to provide an\nupdate with regards to its ongoing evaluation programme at its 50%\nowned joint venture Lolgorien project within the historically\nproducing Migori Archaean Greenstone Belt in south western Kenya.\nIts joint venture partner is Oslo and Swedish-NGM listed\nInternational Gold Exploration AB (\"IGE\").\n\nHighlights\n\n\n * Kilimapesa Hill - Rock chip sampling at a 3m spacing in a strike\n drive has identified a stretch of 42m at 10.13 g/t gold (\"Au\")\n * Kilimapesa Hill - two parallel auriferous veins, situated\n approximately 60m apart can be traced over a strike length of\n 600m\n * Kilimapesa Hill - auriferous quartz veins can be traced along\n surface for up to 1.2km as marked by artisanal workings\n * Alpha Ray and Red Ray - Induced Polarisation (\"IP\") surveying has\n defined a geophysical anomaly 2 km in length striking east-west\n * Alpha Ray and Red Ray - Drill programme planned to test the\n quartz veins currently being worked by artisanal miners at\n surface level\n * Tailings derived from colonial operations have been auger drill\n sampled and a JORC compliant mineral resource of 51,648t at\n 2.52g/t Au defined.\n * Planning a refurbishment programme on existing gold processing\n plant on site providing short term production potential\n\n\n Demetri Manolis, CEO of Goldplat said, \"These results represent yet\nanother step towards achieving our strategy of becoming a leading\nmid-tier gold mining house. Historical workings and artisanal mining\nattracted us to this prospect and the results from the first phase of\nour evaluation programme are highly encouraging. Importantly, this\ninitial evaluation programme aimed at defining a mineral resource\nfrom the surface tailings was completed ahead of schedule and within\nbudget. As a result, we are delighted to be in a position where we\ncan plan a refurbishment programme on an existing plant, with the aim\nof processing the ore produced from primary and tailings targets in\nthe near future.\"\n\nResults\n\nThe joint venture initially identified 10 prospective targets in its\nLolgorien project. Its current areas ...