Announcement Date: 2022-07-12
Announcement Type: Deposit Estimation
Announcement Code: (other Code)
Company name: Caracal Gold Plc
Project name: Kilimapesa Hill
Location: Kenya
Commodities: Gold
Highlight: Updated Resource Estimate for Project
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Caracal Gold plc, the expanding East African gold producer with over 1,300,000oz JORCcompliant gold resources, is pleased to announce an updated Mineral Resource Estimate (‘MRE’) for the Kilimapesa Hill Deposit (‘KHD’) at the Company’s flagship Kilimapesa Gold Mine and Processing Operation in Kenya (‘Kilimapesa’ or the ‘Project’). Expanded Measured, Indicated and Inferred Resource of 12.15Mt @ 1.5g/t gold for 565.7koz contained gold for the Kilimapesa Hill Deposit, following successful resource expansion drill campaign. Further resource expansion anticipated, with drilling at the Project ongoing; assay results expected from testing the western extent of Kilimapesa Hill and the eastern boundary of the mining licence and drilling also underway at prioritised regional targets. Caracal Gold plc is an emerging East African focused gold producer with a clear path to grow production and resources both organically and through strategic acquisitions. Its aim is to rapidly increase production to +50,000oz p.a. and build a JORC compliant resource base of +3Moz. To this end, it is progressing a well-defined mine optimisation strategy at its 100% owned Kilimapesa Gold Mine in Kenya, where there is significant mid-term expansion potential and ability to increase gold production to 24,000oz p.a. and the resource to +2Moz (current JORC compliant resources of approx.
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