Mining: Australian Amani Gold raises its estimate for the Kebigada deposit in the DRC

deposit in the DRC

Shares of Amani Gold Limited, an Australian Securities Exchange (ASX) listed gold explorer and developer, doubled Thursday morning after the company announced a substantial upgrade of the Kebigada gold deposit, part of the Giro gold project in the Democratic Republic of Congo. The mineral potential of the site now stands at 124 million tonnes yielding 1.03 g/t gold for 4.1 million ounces of gold at a cut-off grade of 0.5 g/t gold. This new estimate represents an increase of 28% (800,000 ounces of gold) over the previous figures of 75 million tonnes at 1.18 g/t gold for 2.9 million ounces of gold at a cut-off grade of 0.6 g/t gold. The company continues to undertake exploration on the Giro project in order to continue to expand the scale of the project. A 6,000-m core drilling program (12 cores each 500 m long) along the strike is planned to begin by May or June.