|
Banro Corporation intersects significant gold mineralisation on its Namoya project
Thursday May 26, 9:16 am ET
Audit sampling results include 15 metres grading 5.02 g/t, 13 metres at 5.95 g/t and 24 metres of 2.22 g/t
TORONTO, May 26 /CNW/ - Banro Corporation ("Banro" or the "Company") (AMEX - "BAA"; TSX Venture Exchange - "BAA") is pleased to announce positive initial results from the ongoing adit sampling program on the Company's wholly-owned Namoya project, located on the Twangiza-Namoya gold belt in the Democratic Republic of the Congo (the "DRC"). Results include 15 metres grading 5.02 g/t from adit KK1200NE-W, 13 metres at 5.95 g/t from adit KK1240NS-W and 24 metres of 2.22 g/t from adit NS1.
A comprehensive mapping and adit sampling program commenced in February with the objective of mapping and resampling a proportion of the 103 adits, which total 8,530 metres along the 2.5 kilometre long Mount Mwendamboko- Kakula-Namoya mineralized trend, where Banro's independent geological consultant, Steffen, Robertson and Kirsten (UK) Ltd. ("SRK"), had previously outlined an Inferred Mineral Resource of 10,210,000 tonnes grading 3.6 g/t Au, equivalent to 1,170,000 ounces of contained gold (see the Company's press release dated February 28, 2005).
This Inferred Resource estimate was based on historical data, principally from adits and core drilling along a series of ridges. Due to the extensive, previous adit development, the Company's objective is to upgrade a significant proportion of the current plus one million ounce Inferred Resource at Namoya into the higher confidence Measured and Indicated Resource categories once the previous adit sampling assay results are verified. Significant results, including multiple adit intersections, are summarised below for the Kakula and Namoya Summit deposits that are located 700 metres apart along the mineralised trend. A complete set of the Namoya adit results received to date, together with locality level plans, will be found accompanying this press release on the Company's website (www.banro.com).
Back to top |
