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Banro Corp.
Summary
| Project: | Namoya | |
|---|---|---|
| Deposit: | Namoya Summit, Bulawayo, Seketi, kakula, Muviringu | |
| Location: | Congo, Democratic Republic Of The | |
| Commodities: | Gold | |
| Date: | 3/29/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 29-3-2017: Banro Corp. announces an Exploration/Drilling Update report for its Namoya Summit, Bulawayo, Seketi, kakula, Muviringu deposit at the Namoya project. Drilling results incl.5m @ 21.05g/t Au from 29m . Banro Corporation (“Banro” or the “Company”) | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Daniel K. Bansah (Internal) | |
| ABSTRACT: | Banro Corporation (“Banro” or the “Company”) (NYSE MKT- “BAA”; TSX – “BAA”) is pleased to announce the discovery of a new mineralized zone and to provide updates on its ongoing near-mine reverse circulation (RC) drilling program at its Namoya gold mine. Commenting on these results, Banro President and CEO, John Clarke said, “We are excited by these significant intersections coming from the Namoya Summit Hanging Wall Zone and the Bulawayo Prospects. These intersections occur in similar geological settings to adjacent deposits and offer a good opportunity to replenish and grow our resources and reserves. We plan to carefully evaluate these zones of mineralization and update our year-end (2016) mineral resources and reserves.” The current exploration drilling program at Namoya commenced in August 2016. The priorities were to grow Namoya’s mineral resources in the short term and to test new targets. RC drilling at the Namoya Summit Hanging Wall Zone continued to define the mineralization zones and is assisting with the definition of the resource. From August 2016, when drilling resumed at Namoya (and after the last news release on the Namoya Summit Hanging Wall Zone), 19 RC holes totaling 1,765.00 metres were drilled at the Namoya Summit Hanging Wall Zone. Overall, 30 RC holes totaling 2,626 metres were drilled at the hanging wall zone. Exploration drilling at the Bulawayo and Seketi targets led to the discovery of new zones of bedrock mineralization from previous auger drilling intersections. Seventeen (17) RC holes totaling 1,215 metres were drilled at the Bulawayo target and 7 RC holes totaling 502 metres were drilled at the Seketi target. | |
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