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31/01/2012

Nyota Minerals CEO says 2012 looks very exciting for the company

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Additional Information
Market:ASX / AIM
Sector:Gold Mining
EPIC:NYO
Latest Price: 0.09  (0.00%)
52-week High:0.27
52-week Low:0.09
Market Cap:40.64M
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Nyota Minerals Full Nyota Minerals profile here

Nyota Minerals (ASX, AIM: NYO) is a mineral exploration and development company dual listed on the AIM Market of the London Stock Exchange and the Australian Stock Exchange that is focused on the exploration and concurrent development of Tulu Kapi, its flagship project in Western Ethiopia.

 

The company is actively exploring several priority targets proximal to Tulu Kapi as well as regional gold targets in the northern blocks which Nyota believes have the potential to become future standalone projects. 

Pdf

Nyota returns high gold grades of 16.06g/t from new discoveries at Tulu Kapi

Thursday, October 13, 2011 by Angela Kean
Nyota returns high gold grades of 16.06g/t from new discoveries at Tulu Kapi

Nyota Minerals (ASX:NYO) has made three new gold discoveries within the 3200 square kilometre Northern Blocks exploration area, about 100 kilometres north of its flagship project Tulu Kapi in western Ethiopia.

One discovery was made within the Boka Sirba Prospect, taking the total number of targets at the prospect to three with a total combined strike length exceeding 15 kilometres.

The latest target, Boka‐Sirba West shows high copper, zinc and silver values associated with grab samples returning peak gold grades of 16.06g/t and 8.84g/t.

Additional rock chip sample results for the original Boka Sirba target include peaks of 5.92g/t and 5.85g/t gold, complementing an earlier peak sample grade of 10.85g/t gold.

The other two discoveries were made at the Bendokoro North Prospect. The Bendokoro East anomaly, which comprises an 800 metre strike length and is a 100 metre wide target, has returned gossan grab samples with peak grades of up to 10.6 grams per tonne (g/t) of gold.

The Bendokoro West anomaly extends over a 1 kilometre strike length, is 100 to 200 metres wide and includes continuous gold in soil geochemical results peaking at 1.39g/t gold.

Both anomalies are open‐ended to the north, south, east and west.

Nyota considers three targets to be drill ready and plans to dispatch a multi-purpose drill rig to site once access has improved.

Detailed exploration will recommence within the month, with a new field camp and access roads to be completed first.

Reconnaissance exploration will continue through to June 2012 on the balance of the 40 targets. As with the other targets explored to date, this will include stream sediment, rock chip, heavy mineral concentrate sampling and trenching.

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