https://www.engineeringnews.co.za

Alecto awarded extended exploration contract

5th May 2016

By: Anine Kilian

Contributing Editor Online

  

Font size: - +

JOHANNESBURG (miningweekly.com)–Africa-focused gold and base-metal exploration and development company Alecto Minerals has been awarded an additional three years for its Gassel-Manere and Arae mineral exploration permits, known as the Kerboulé project, in Burkina Faso.
 
The company said on Thursday that this was a crucial step to securing a potential joint-venture partnership.

The additional term would give Alecto sufficient time to expand on the known gold resource estimate in the Kerboulé-Yalema corridor (KY-corridor) of 230 758 oz and to complete further exploration at the Palpaga exploration target.

“An additional three-year licence period for the Kerboulé project sets the conditions for adequate additional exploration work to be completed at this gold asset,” said Alecto CEO Mark Jones.

He added that, with nearly 0.25-million ounces already defined in the KY-corridor, and a vast exploration target at Palpaga, the company was confident that with the additional time to explore, this project would deliver significant future returns. 

Alecto's strategy remained focused on becoming a producer in the mid- to near term through the development of the Matala gold deposit in Zambia. 

It would also continue to advance its early-stage exploration portfolio through a joint venture or early monetisation of opportunities.

Edited by Samantha Herbst
Creamer Media Deputy Editor

Comments

Showroom

Actom image
Actom

Your one-stop global energy-solution partner

VISIT SHOWROOM 
SABAT
SABAT

From batteries for boats and jet skis, to batteries for cars and quad bikes, SABAT Batteries has positioned itself as the lifestyle battery of...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

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?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.059 0.106s - 156pq - 2rq
Subscribe Now