Acacia to investigate viability of gold find

Acacia to investigate viability of gold find

 Acacia Mining will begin a preliminary investigation of the viability of mining gold in Kakamega county.

“We plan to commence a study in the second half of 2017 to consider the potential for an underground mining operation,” said the firm in its first quarter 2017 report to shareholders issued yesterday.

The miner also plans to increase the drilling rigs from the current six to eight in order to increase testing of the five main prospects in the Liranda Corridor where it has been licensed to prospect.

Currently, it is undertaking a 45,000 metres drilling with the objective of significantly increasing the sites estimated gold potential. The firm says deep drilling is also aimed at producing an initial Inferred Resource on Bushiangala prospect, its second prospecting site.

“We are targeting a significant increase in the Liranda Corridor Resource to over two million ounces prior to the end of 2017.”

Acacia announced in February it had struck high grade gold with an estimated quantity of 1.31 million ounces in Kakamega County valued at Sh164.8 billion. According to the firm, the gold in the prospecting site is of the highest grade in Africa today and there are possibilities of larger quantities gold of a similar grade just a kilometre away from the company’s exploration site.

“We believe that this initial resource is a first step in the delineation of a multi-million ounce high-grade corridor,” said Gordon in February when he announced the gold find.

Also read:   Stay safe in social media, instant messaging age

Related stories