2merkato

Allana Potash Corp announced on Tuesday that it has intersected three zones of strong potash mineralization in hole DK-11-28, found in the northwestern region of the company’s potash concession in Ethiopia.

Allana is encouraged by the consistently strong potash mineralization seen in the results from the northwestern part of its concession according to Farhad Abasov President and CEO.

The Ethiopian Ministry of Mines announced that five international companies have invested 6.5 billion US dollars in the Ethiopia potash mining industry.

The five companies are G and B Central Africa Resource Limited, Saynic Potash, Nova Potash, Allana Potash and BHP Belton World Exploration Ethiopia. All of these companies have based their activites in Dalol.

Potash deposits from three points in the South Western part of its claims were made by Allana Potash last week according to company sources.

Tigray Resources Inc has announced that it has completed nine diamond drill holes since mid-August in Ethiopia. The holes are approximately 1700 meters and have been completed on drill sections 80 meters apart at Terakimti and are part of ongoing exploratory drilling.

Drilling is targeting a zone approximately one kilometre in strike length identified through geological, structural and alteration mapping; gold anomalous gossan outcrops; soil geochemical anomalies; IP, resistivity, gravity and EM targeting; and results from 12 previously drilled holes.The lab is expected to deliver the results for the first eight diamond drill holes in four to six weeks.

Nyota Minerals, an East African focused gold miner, announced yesterday it has discovered three new gold reserves. These discoveries were made within the 3200 km2 of the Northern exploration area of the firm in Western Ethiopia.

Nyota regards these sites as ‘drill ready,’ and a multi-purpose drill rig has been allocated to them.