Akobo announces significant increase in gold ounces at Segele
Scandinavian gold exploration and boutique mining company Akobo Minerals has announced an updated mineral resource estimate (MRE) for its Segele project, in Ethiopia, showing a significant increase of 31% in gold ounces.
The updated MRE put the average grade at 40.6 g/t for indicated mineral resources.
The findings, which were issued by the Australasian arm of mining and exploration consulting firm SRK, signalled improved potential for high-margin gold production, the company reported on April 22.
In March Akobo said initial production at Segele was expected to start by the end of the year, ramping up into 2023. Once fully operational, Akobo estimated the yearly production at Segele to be about 45 000 oz.
The company said this could increase depending on further discoveries and upgrades to the processing plant. The long-term goal was for the discovery of between 1.5-million and 2-million ounces of gold.
Akobo said on April 22 that the newly announced increase in ounces was derived from an increase in the tonnage and better-than-expected average gold grade than previously indicated.
“The indications were that we would see a drop in average gold grade. However, after improvements to the estimation method and after the application of a higher cut-off grade to match the planned underground mining methodologies, the average grade shows a more similar average grade as seen in the previous resource estimate from April 2021,” the company said.
In addition to the increase in the mineral resources, the classification of parts of the mineralisation was upgraded from inferred to indicated, thereby increasing confidence in the figures.
Akobo believes the average grade of 40.6 g/t for indicated mineral resources will have a positive impact on the cash flow potential for the mine operations because this part of the resource was assumed to be accessible in the early stages of mining operations.
Comments
Research Reports
Projects
Latest News
Showroom
Goodwin Submersible Pumps Africa is sole distributors for Goodwin electrically driven, submersible, abrasion resistance slurry pumps.
VISIT SHOWROOM
Rentech provides renewable energy products and services to the local and selected African markets. Supplying inverters, lithium and lead-acid...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
