Acacia announces maiden high-grade resource at West Kenya project

Acacia Mining has announced an initial NI 43-101 compliant inferred mineral resource estimate of 1.31 million ounces of gold at 12.1g/t on the Liranda Corridor within its West Kenya project.

The project is primarily located on three main zones of mineralisation at the Acacia prospect with multiple lodes open laterally and at depth.

Acacia Mining CEO Brad Gordon said: “We are delighted to report a maiden high-grade Inferred Mineral Resource on the Liranda Corridor in Kenya of 1.31 million ounces at 12.1 grams per tonne of gold.

“This is one of the highest grade projects in Africa today, and we believe that this initial resource is a first step in the delineation of a multi-million ounce high-grade corridor.

"In addition to the Acacia prospect, which hosts all of this maiden resource, we have known mineralisation on the Bushiangala prospect, 1km away to the west, with a further three prospective lodes in early stage testing.

“Whilst Kenya is a relatively new mining destination, we are very pleased with the relationships we have built and the support we have received and look forward to working closely with all stakeholders as we progress this highly promising project.”

"We believe that this initial resource is a first step in the delineation of a multi-million ounce high-grade corridor."

Gold mineralisation at the project is found in the shear zones ranging in width from 0.5m to 10m.

The company has also identified mineralised zones on the Bushiangala prospect, which is situated 1km from Acacia prospect. However, details about this project have not been fully revealed due to drill density and a further study being required.

At Liranda Corridor, the company intends to complete 44 Reverse Circulation holes for 4,438m and 132 diamond core holes for 64,700m.

To date, nearly 80% of the target has been drilled.

This year, the company intends to invest $12m on exploration at the West Kenya project. Most of the funding will be used in the 45,000m-drilling programme on the Liranda Corridor.

The company also announced that the scoping study on a potential underground operation is expected to begin in the second half of the year.