Midroc Gold Mine Plc said that it had discovered a new gold deposit estimated 33,000kg in the Jilaye area of Metekel Zone, in Benishangul Gumuz Regional State.

The gold deposit was discovered seven years after the launching of the exploration activity on a 2,292 sq km area, Dr Arega Yirdaw, the CEO said yesterday.

Compared with Sakaro, the gold deposit at Jilaye is huge and could sell at 1.18 billion dollars, the CEO said. Dr Arega said that the area had potential of more gold deposits.

Dr Arega said that Midroc Gold would continue exploration activities to discover more deposits in the remaining 770 sq km area.

Source: Ethiopian Herald