Kenya Approves Goldplat Project

15 February 2011 (Last Updated February 15th, 2011 18:30)

The Government of Kenya has granted permission for Goldplat's subsidiary Kilimapesa Gold to commence operations at its mine in the Trans Mara District of SW Kenya. The mining lease grant process is expected to be completed in order to secure long-term mining rights over the gold prospe

The Government of Kenya has granted permission for Goldplat's subsidiary Kilimapesa Gold to commence operations at its mine in the Trans Mara District of SW Kenya.

The mining lease grant process is expected to be completed in order to secure long-term mining rights over the gold prospect.

The company intends to develop a small, profitable gold mine, with an initial target of producing around 5,000oz of gold (oz Au) per annum, within one year of being granted its mining licence.

The project currently has a JORC-compliant resource of 1.65Mt at 2.44g/t Au for 129,000oz of gold at a cut-off grade of 1g/t of gold for all categories and the firm is planning to increase this through further exploration.