Acacia declares maiden high-grade resource at West Kenya project

Acacia Mining said on Monday that it has found an inferred mineral resource of about 1.31m ounces of gold at 12.1 grams per tonne on the Liranda Corridor at its West Kenya project.

The company said all inferred material is located on the Acacia prospect with multiple lodes open laterally and at depth.

Acacia noted it has a 45,000 metre drilling programme budgeted for this year with six rigs active on site, targeting an increase in resource to over 2m ounces in the second half.

It added that scoping study on a potential underground operation is scheduled to begin in the second half of this year.

Chief executive officer 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. In addition to the Acacia prospect, which hosts all of this maiden resource, we have known mineralisation on the Bushiangala prospect, one kilometre away to the west, with a further three prospective lodes in early stage testing.

"Whilst Kenya is a relatively new mining destination we are very pleased with the relationships we have built and the support we have received and look forward to working closely with all stakeholders as we progress this highly promising project.”