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Acacia Mining Plc
Summary
| Project: | West Kenya JV | |
|---|---|---|
| Deposit: | Liranda Corridor | |
| Location: | Kenya | |
| Commodities: | Gold | |
| Date: | 11/30/2016 | |
| Report Code: | (no Code) | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 30-11-2016: Acacia Mining Plc announces an Exploration/Drilling Update report for its Liranda Corridor deposit at the West Kenya JV project. JV - drilling results incl. 4.0m @ 55.5g/t Au from 222m at AZ-1. Acacia will be hosting an exploration roundtable | |
| Resources: | x | |
| CP/QP: | [Overall Report]: n/a (n/a) | |
| ABSTRACT: | Acacia will be hosting an exploration roundtable for investors and analysts at 08:00 today to provide an update on our progress across our exploration portfolio over the past year and our priority projects in 2017. The presentation will be made available on the company website ahead of the roundtable at the following link: www.acaciamining.com/investors/presentations; a summary of the presentation is provided below. Over the last few years Acacia has systematically created a pan-African greenfield exploration footprint, whilst working to unlock the geological potential of our producing assets. This has led to the creation of a highly prospective land package of over 4,400 square kilometres across Kenya, Burkina Faso and Mali, in addition to around 1,000 square kilometres in Tanzania. During 2016 our exploration portfolio was further increased in Burkina Faso and Mali through the signing of new joint venture agreements. Our systematic approach to exploring our greenfield projects has created an exploration pipeline with more than 60 targets ranging from grassroots to resource delineation. In addition to the greenfield targets, we continue to advance brownfield opportunities around our operations, with a focus on North Mara, as part of our policy to apply capital to the projects with the highest potential returns. During 2016 we expect to have drilled approximately 133,000 metres across our greenfield projects with up to 15 drill rigs in operation and a total spend of US$22 million. In 2017, we plan to increase the number of metres drilled to around 190,000 metres with a budget of US$25 million. | |
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