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News Breaks | | | | January 31, 2013 | | 10:17 EDT |  | BAA | Banro Corporation increases oxide, free-milling ounces of gold by 45%
Banro Corporation provides an update of its Mineral Resource and Mineral Reserve estimates at its wholly-owned projects on the Twangiza-Namoya gold belt in the Democratic Republic of the Congo. Exploration drilling during 2012 at the four core projects, Twangiza, Namoya, Lugushwa and Kamituga, has resulted in positive growth in Mineral Resources and Mineral Reserves, particularly oxide and free-milling material, in line with the core strategy of the Company, whilst also ensuring the replacement of Mineral Reserves depleted thus far at the Twangiza Gold Mine. Banro's total oxide and free-milling Mineral Resource increased by 45%, representing 4.17Moz in the M&I category and 0.87Moz in the Inferred category. Banro's Measured & Indicated Mineral Resource has grown to 10.18 million ounces of gold, an increase of 41%, and the Inferred Mineral Resource has grown to 7.01Moz of gold, an increase of 56%. | |
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