18 Jan 2012 15:51
18 January 2012
Nyota Minerals Limited ("Nyota" or the "Company")
Tulu Kapi Update
Highlights
Work has commenced on the new JORC Mineral Resource.
Nyota Minerals (ASX/AIM: NYO), the gold exploration and development Company in East Africa, is pleased to provide shareholders with an exploration update at its Tulu Kapi Project, Ethiopia.
Richard Chase, Chief Executive Officer commented "Drilling continued right up until Christmas and recommenced yesterday. Although there are a large number of sample assay results still pending we anticipate all of this additional data being available for the new resource estimate, which is underway and on track for release later this quarter."
Central Tulu Kapi Drilling
Final assay results have been returned for the remaining six holes out of a total of 38 holes drilled to November 2011 covering the main Tulu Kapi deposit. Peak intersections included 17.44g/t Au over 3.30m, 8.42g/t Au over 14.20m and 6.52g/t Au over 21.00m.
The intersections provided additional infill data with an emphasis on the deeper mineralisation. With the exception of some possible additional structural and engineering drilling, there are no immediate plans for further infill drilling over the central section of the main Tulu Kapi deposit.
Borehole ID | Intersection From (m) | Intersection To (m) | Mineralised Intersection (m) | Grade (g/t Au) |
TKBH-135 | 0.00 | 4.90 | 4.90 | 1.20 |
TKBH-136 | 230.50 | 234.53 | 4.03 | 5.16 |
260.70 | 264.00 | 3.30 | 17.44 | |
329.45 | 347.70 | 18.25 | 2.12 | |
428.90 | 452.00 | 14.20 | 8.42 | |
TKBH-138 | 173.45 | 189.00 | 15.55 | 1.28 |
TKBH-146 | 340.00 | 361.00 | 21.00 | 6.52 |
TKBH-149 | 84.60 | 92.00 | 7.40 | 1.10 |
TKBH-151 | 8.60 | 26.00 | 17.40 | 0.70 |
NE Extension Drilling
A total of three diamond drill holes were completed over the NE Extension to Tulu Kapi. Results from all three holes were encouraging with peak intersections of 2.80g/t Au over 13.05m and 2.55g/t Au over 15.61m. Further step out drilling is required to complete the drill out of the NE Extension.
Borehole ID | Intersection From (m) | Intersection To (m) | Mineralised Intersection (m) | Grade (g/t Au) |
TKBH-141 | 83.10 | 94.20 | 11.10 | 2.17 |
160.65 | 175.24 | 14.59 | 1.94 | |
TKBH-145 | 3.10 | 7.20 | 4.10 | 1.51 |
123.10 | 133.50 | 10.40 | 1.63 | |
TKBH-150 | 0.00 | 10.42 | 10.42 | 1.06 |
89.00 | 102.05 | 13.05 | 2.80 | |
132-95 | 148.00 | 15.05 | 1.28 | |
214.75 | 235.00 | 15.61 | 2.55 | |
337.00 | 348.00 | 11.00 | 6.03 |
N Extension - UNDP Drilling
Borehole ID | Intersection From (m) | Intersection To (m) | Mineralised Intersection (m) | Grade (g/t Au) |
TKBH-139 | 14.60 | 20.30 | 5.70 | 0.60 |
TKBH-142 | 112.40 | 123.42 | 11.02 | 3.92 |
Engineering Drilling
As part of the on-going Definitive Feasibility Study ("DFS"), a programme of engineering - geotechnical - hydrogeological drilling is taking place. The current programme is operating to schedule and is expected to deliver the balance of information needed to support the DFS.
Programme | No of Holes | Total Metres (m) |
Infill drilling to evaluate mineralised saprolite | 70 | 1,400 |
Infrastructure Drilling - dam wall, crusher and plant site | 10 | 360 |
Metallurgical Samples for additional testwork | 5 | 714 |
Hydrogeological Drilling of Tailings Dam site | 8 | 448 |
Geotechnical Drilling - In-pit | 15 | 3,238 |
Hydrogeological Drilling - Open Pit | 13 | 1,766 |
Total | 121 | 7,926 |
Information on assay data and drilling
Reverse Circulation and Diamond drilling follow standard protocols that have been validated and refined by a number of independent consultants who have visited the Tulu Kapi site and monitored drilling operations. Sampling protocols and sample preparation procedures employed in the laboratory located at Tulu Kapi and operated by ALS Chemex have also been reviewed and found to be of an appropriate standard.
The Company inserts standards, blanks and duplicates in all its sample batches dispatched for assay and implements strict QA/QC procedures to monitor the assays attributable to these standards, blanks and duplicates.
Estimation of grade and mineralised widths
A cut‐off was employed of 0.40g/t Au for saprolite and 0.50g/t Au cut‐off for fresh rock. Any intercept of less than the respective cut‐off was excluded from any grade and mineralised width estimate except where an individual sample of 1.0m or less occurred between samples returning grades higher than cut‐off in which case single samples of 1.0m or less that were below the cut‐off would be included in a mineralised intersection.
The Tables below lists all mineralised intersections achieved since the last drilling update based upon a 0.40g/t Au and 0.50g/t Au cut‐off.
The technical exploration and mining information contained in this Announcement has been reviewed and approved by Mr D Hage Pr.Sci.Nat, Chief Geologist for Nyota Minerals Limited. Mr Hage has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity to which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves and as a qualified person under the AIM Note for Mining, Oil and Gas Companies. Mr Hage is an employee of Nyota Minerals Limited and is a Member of the South African Council for Natural Scientific Professions (SACNASP). Mr Hage consents to the inclusion in this Announcement of such information in the form and context in which it appears.
For enquires please contact:
Richard Chase (CEO)
Nyota Minerals Limited
+44 (0) 20 7400 5740
info@nyotaminerals.com
NOMAD
Richard Morrison / Jen Boorer
Ambrian Partners Limited
+44 (0)20 7634 4700
BROKER
Guy Wilkes
Ocean Equities Limited
(+44) (0) 20 7786 4370
BROKER
Rory Scott
Mirabaud Securities LLP
(+44) (0)20 7878 3360
FINANCIAL PR
Paul Youens / Jos Simson
Tavistock Communications
(+44) (0)20 7920 3150
Or visit: http://www.nyotaminerals.com
Neither the contents of the Company's website nor the contents of any website accessible from hyperlinks on the Company's website (or any other website) is incorporated into, or forms part of, this announcement.