30 Jun 2016 14:30
30 June 2016
Alecto Minerals plc
("Alecto" or the "Company")
Result of AGM
Alecto Minerals plc (AIM: ALO), the AIM quoted mineral exploration company focussed on West and East Africa, held its Annual General Meeting earlier today and all resolutions were duly passed.
**ENDS**
For further information please visit www.alectominerals.com, follow us on Twitter @AlectoMinerals, or contact:
Alecto Minerals plc Mark Jones
| Tel: +44 (0)20 7499 5881 |
Strand Hanson Limited Andrew Emmott Matthew Chandler James Dance
| Tel: +44 (0)20 7409 3494 |
Beaufort Securities Limited Jon Belliss
| Tel: +44 (0)20 7382 8300 |
St Brides Partners Limited Elisabeth Cowell Charlotte Heap | Tel: +44 (0)20 7236 1177 |
Notes to editors:
Alecto Minerals plc is an African focused, gold and base metals exploration and development company quoted on AIM with gold exploration projects in Zambia, Mali, Burkina Faso and Mauritania.
In Zambia, the historical Matala and Dunrobin gold mines have, in aggregate, a 760,000 oz Au JORC Code compliant resource estimate in the Measured, Indicated and Inferred categories at an average grade of 2.3g/t Au. The Company is focused on bringing Matala into low-cost production in the near to mid-term.
In Mali, the Kossanto East project has an inferred JORC Code compliant resource estimate of 6.72Mt grading at 1.14g/t Au for an aggregate of 247,000 oz Au with a cut-off grade of 0.5g/t Au. This is under a co-operation agreement with ASX listed Desert Gold Inc. to evaluate the potential to jointly develop each company's neighbouring projects into production. The Kossanto West Project is under a joint venture with Randgold Resources Limited. In addition, the Company owns the 250 sq. km. Karan gold project in southern Mali which is under joint venture with Cora Gold Limited.
Alecto also owns the Kerboulé Project, located in the highly prospective Birrimian-age Djibo gold belt in northern Burkina Faso, as well as the wholly owned Wad Amour IOCG Project in Mauritania which is at an exploration stage.
Accordingly, the Company has a strong, diversified project portfolio with exciting exploration upside potential.