Last checked at 
Caracal Gold PLC - gold producer with operations in East Africa - Says it is advancing initial shallow trenching programme at Kilimapesa site in Kenya. The peak trench sample result rang in at 40 metres grading 4.85 grammes per tonne gold, including seven metres at 7.6 grammes and individual samples of one metre 15.1 grammes and one metre at 5.1 grammes. Says trenching work is continuing and is now looking to expose the southern contact of mineralisation in the six trenches across an initial strike length of 125 metres, out of seven kilometres of potential strike length.
Chief Executive Officer Robbie McCrae says: "Our focus at Caracal is on rapidly delivering on our strategy of becoming a 50,000 ounces per annum. producer and building a JORC compliant resource base of 3 million ounces within the next 12-18 months. Whilst we will continue to increase production at our Kilimapesa gold mining and processing operations, in parallel with this we will be focused on our aggressive acquisition strategy and on our exploration activities on our mining and prospecting licenses at Kilimapesa where the potential to increase our resource base is significant.
"Whilst early days, these shallow and high grade trenching results, particularly the 40 metres running at almost 5 grammes per tonne of gold, provide us with very good indication that, what we potentially have at the newly targeted southern mineralized zone, is a very wide and extensive gold mineralised zone that extends for several kilometres on our prospecting license and is open at depth. It is very encouraging that this southern mineralized zone is in addition to, and south of the mineralisation and JORC compliant resource of over 671,400 ounces that we have already defined and is being mined at Kilimapesa."
Current stock price: 1.75 pence
Year-to-date change: up 32%
By Arvind Bhunjun; arvindbhunjun@alliancenews.com
Copyright 2021 Alliance News Limited. All Rights Reserved.