February 27, 2017 / 7:42 AM / 8 months ago

Acacia Mining's west Kenya project inferred to have high-grade gold

NAIROBI, Feb 27 (Reuters) - Acacia Mining has found an “inferred mineral resource” estimated to be 1.31 million ounces of gold at 12.1 grams per tonne at the company’s project on the Liranda Corridor in western Kenya, it said on Monday.

An inferred mineral resource is when tonnage, grade and mineral content is estimated from geological evidence but not yet fully verified.

Acacia’s press release said the site had “multiple lodes open laterally and at depth”. The company planned to drill 45,000 metres using six rigs this year and carry out a study on a potential underground operation.

“This is one of the highest grade projects in Africa today, and we believe that this initial resource is a first step in the delineation of a multi-million ounce high-grade corridor,” chief executive officer Brad Gordon said in the press release. (Reporting by Katharine Houreld, editing by Louise Heavens)

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