Ethiopia-based gold explorer Akobo Minerals reports that it has found a continuation of a high-grade gold zone at depth, beneath the Segele mineral resource, with new assays demonstrating that the high-grade mineralisation extends to at least 145 m and quite possibly deeper.

The resource estimate covered mineralisation in a narrow high-grade shoot from 30 m at the shallowest, to 130 m at the deepest.

The new intercepts of the mineralisation, which remains open at depth, include gold mineralisation at a grade of 45.3 g/t over 48 cm and 13.8 g/t over 1.43 m, which is to be included in the next mineral resource estimate.

To date, over 4 555 m of core drilling has been completed at the Segele site, significant portions of which have now been assayed.

In April, Akobo released the result of the Segele mineral resource estimate that pointed to an inferred mineral resource totalling 52 410 oz at an average grade of 20.9 g/t.

CEO Jørgen Evjen says the latest assays support the company’s continuing belief that the Segele mineralisation can support small-scale mining and that there are deeper high-grade gold zones to be discovered.

“These results will inevitably form an important part of an updated mineral resource estimate and now that we have doubled our core drilling capacity, we are optimistic about finding further extensions of the Segele resource in the near term.”

He adds that, in the coming weeks, the results of Akobo’s scoping study will be released, which will provide details of the operating and capital expenditure required for the development of the Segele mine.

The Segele gold deposit is just one target in the 100%-owned 182 km² exploration licence under investigation by Akobo.

Going forward, the next priority target for drilling is Joru, where a prospective low grade, high tonnage prospect is present, and reverse circulation drilling has returned results including, 3.1 g/t over 2 m and 3.1 g/t over 1 m.

The drilling programme at Joru is under way and initial results are expected to be released in the coming weeks.

Akobo geologists believe that, in addition to Segele and Joru, a large number of gold exploration targets exist in this unexplored region of Ethiopia.