Acacia Mining Strikes Gold in Kakamega

Acacia Mining, one of the largest gold producers in Africa, has announced that it 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.

CEO Brad Gordon said, “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.”

Cabinet Secretary for Mining, Dan Kazungu said, ” We are excited about the potential of Acacia’s West Kenya Project, as it could ultimately lead to the creation of a gold mining industry that would have a benefit to our country, economy and people.”

“Kenya is undoubtedly a geologically rich country, and we are taking significant steps, such as the ratification of the 2016 Mining Act, to establish a robust legislative framework to support our developing mining industry,” added Kazungu in the statement.

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The West Kenya JVs cover over 1,600 square kilometres of highly prospective acreage across 5 licences.

Liranda Corridor is now deemed as the most advanced prospect after the recent discovery.

Acacia also has thee Kakamega Dome Camp and Lake Zone Camp besides the Liranda Corridor.

According to the company website, total exploration expenditure on the West Kenya Project from November 2012 to December 2016 amounts to US$29.5 million with more than 26,312 soil samples, 575 rock chip samples, 1,200km2 of mapping, 190 line kilometres of ground geophysics, 2,535-line km of airborne Electromagnetic surveys, approximately 61,000 metres of Aircore drilling and 83,450 metres of reverse circulation (“RC”) and diamond core (“DD”) drilling completed.

This work has resulted in seven (five priority) multi-kilometre gold corridors being identified across the project. The Liranda Corridor, in the far northeast of the project area was the highest priority target identified. Reconnaissance Aircore drilling of gold-in-soil anomalies identified significant gold mineralisation.”

The company plans to drill 45,000 metres using six rigs this year and carry out a study on a potential underground operation.

It also plans to commence the scoping study on a potential underground operation is planned to commence in H2 2017.