Banro Resource (BNRS-C) has revised its resource estimates for the Twangiza and Namoya gold deposits in the Democratic Republic of Congo’s Kivu province.
At Twangiza, the updated resource stands at 104.6 million tonnes grading 2.12 grams gold per tonne, equivalent to 7.1 million oz. gold. The calculation is based on 4,900 metres of recently drilled core, 17,374 historical samples and a cutoff grade of 1 gram.
Based solely on historical data, the resource at Namoya has been increased to 12.57 million tonnes grading 6.19 grams gold per tonne, equivalent to 2.5 million oz. gold based on a 1-gram cutoff. The original estimate stood at 675,000 oz. gold.
The resource estimates for Banro’s Lugushwa and Kamituga gold deposits — situated between Twangiza and Namoya — are scheduled to be updated during 1998 using historical data.
Banro recently reported that hole 6 at Twangiza, collared 200 metres north of hole 5, graded 1.21 grams gold per tonne over 371 metres, including 79.5 metres (from 37.5 metres) of 2.39 grams gold. The ongoing drilling program at Twangiza has been extended to 8,000 metres.
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