Namoya West Project

The Namoya West Gold Project is located PR 4803 at the southern end of the Twangiza-Namoya gold belt and approximately 50km south-east of the Company’s Kabotshome Gold Prospect, where the company has reported an Inferred Mineral Resource estimate of 6,966,000 tonnes at 1.9g/t Au for 421,000oz with a 20g/t Au top-cut (refer ASX Announcement 17 January 2017).

Figure 1:  Stream Sampling Results at Namoya West Gold Project.

Figure 1: Stream Sampling Results at Namoya West Gold Project.

The Namoya West Gold Prospect is immediately west of TSE-Listed Banro Corporation’s Namoya Gold Mine, which commenced production in 2016. The Namoya Gold Mine, is a heap leach – CIL plant operation which has a Proven and Probable Mineral Reserve of 20.94Mt grading 2.02 g/t and containing 1.36Mozs of gold and Measured and Indicated resources of 25.68Mt grading 1.96 g/t and containing 1.62Mozs.

The Company’s exploration team commenced activities at the Namoya West Gold Prospect in early 2017 and have completed a detailed audit and review of historical exploration activities conducted on site since 2009. This review work identified exceptionally high grade historical stream sediment sampling and associated results that were recorded in programs completed in 2010.