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Business: Akobo Minerals makes a third gold discovery at Segele

Akobo Minerals anticipates that the drilling will start likely in January 2023. Photo: Akobo Minerals

Addis Abeba – Akobo Minerals, the Scandinavian-based Ethiopian gold exploration and boutique mining company, today announced that it has made a new gold discovery at Segele. “This is the third distinct style of gold mineralization in the area,” the company said in a statement sent to Addis Standard.

The gold exploration and boutique mining company is currently engaged in ongoing exploration and boutique development in the Gambella region and Dima Woreda, along the Akobo River in south-western Ethiopia.

The exploration team has continued with its core exploration work, while drilling has been focusing on sterilization and geotech work related to the Segele mine, Akobo Mineral said, adding: “The exploration has yielded new gold discoveries and better understanding of the geological structure of the area.”

In October this year, Akobo Minerals’s mining contractor, IW Mining Pty (Ltd), has arrived at the site “with a dedicated South African team with decades of experience in underground mining.”

According to the company, the new gold occurrence is located 140m due west of the main Segele mineralization and represents a third distinct style of gold mineralization identified. “The first style is the main Segele ore consisting of high- and bonanza-grade orogenic gold deposit. The free gold is hosted by metamorphosed ultramafics overprinted by calc silicate alteration. The second gold mineralization discovered a few months back is found some 100 meters west of Segele and is coarse grained with a very high nugget effect. It is hosted in a fault breccia with minor quartz veining and is continuous between drill holes.”

In addition to targeting the new mineralization, Akobo said it will start drilling out previously identified areas closer to the Segele main ore body where artisanal miners have exposed gold mineralization and grab samples from pits have shown very high gold content. “This area is now available for further exploration.”

The company anticipates that drilling will start as soon as enough data has been gathered to accurately plan a drill program, likely in January 2023. AS

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