Further Results from Ethiopian Mines Announced by Nyota

October 31st, 2011 | by addis portal |

Nyota Minerals has announced assay results for a further 32 diamond and reverse circulation drill holes covering the main Tulu Kapi ore body and step out targets, with positive infill results underpinning the resource base.

The results will help upgrade the Tulu Kapi resource according Richard Chase Chief Executive Officer of Nyota. A more significant impact of the results will be proving even further the existence of significant extensions to the main Tulu Kapi ore body he said.

Peak intersections include 8.74 grams per tonne (g/t) gold over 15.95 metres and 2.15 (g/t) gold over 16.25 metres and the near surface intercepts seem beneficial for near term production at the project in western Ethiopia.

New areas of mineralization have been discovered in Tulu Kapi’s extension areas. Nyota is making progress with hydro geological drilling and engineering forming part of the Definitive Feasibility Study.

Nyota says that an interpretation of the latest results hints that the North Extension and North Extension-UNDP targets along with the Feeder Zone have the best potential for delivering additional gold ounces.

It is expected that these drilling extensions will enable the bulk of the resource can be converted to an Indicated Resource status to support the value of Nyota’s gold assets as the Tulu Kapi project approaches production.

Nyota Minerals Limited (Nyota) is a mineral exploration and development company dual listed on the AIM Market of the London Stock Exchange (AIM:NYO.L) and the Australian Stock Exchange (ASX:NYO.AX)

Source: Proactive Investors

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