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Nyota's Exploration in Ethiopia Gaining Momentum

Nyota Minerals has launched a 14650 m infill drilling program at its Tulu Kapi gold project in Ethiopia. The program is part of the definitive feasibility study it was said.

The project initiated in collaboration with Wardell Armstrong International is intended to convert an additional 260 thousand oz of Inferred resources to Indicated status before the end of the fourth quarter of the current financial year.

The program is expected to help the definitive feasibility study and confirm the mine's ability to perform for at least ten years.

Exploration is gaining momentum as technical personnel and drill rigs have become available in the aftermath of completing the engineering and hydrological programs as part of the DFS said Richard Chase, Chief Executive of Nyota.

Target prioritization in and around Tulu Kapi is directed by resource expansion, upgrade and ensuring the mining infrastructure so as not to impede future access to resources said Chase.

The current exploration program is progressing well and it is expected that a first reserve calculation will be revealed in the coming weeks as soon as all the elements of the DFS are finalized he said.

Nyota will make the submission to the Ministry of Mines to complement the application to obtain a mining license according to Chase.

Mining efforts will concentrate on emphasizing the drilling of new resources derived from multiple targets broadly defined within a 20 km radius of Tulu Kapi with short term emphasis on a 5 km radius.

Source: Ethiopian Herald