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Mwana Africa continues to expand size of Zani-Koko gold resource

African multi-commodity group, Mwana Africa (AIM: MWA) has increased the size of the resource at its Zani-Koko prospect in the Democratic Republic of Congo (NYSE:DRC).

Mwana has an 80% interest in the prospect, which is located in the Ituri Region of the country.   After completing an additional 2,550 meters of diamond drilling in December 2000 on the “Kodo Main Zone”, which makes up approximately 700 metres of the 9 kilometre Zani-Kodo trend, Mwana reported a 14% and 61% increase in the indicated and inferred resources respectively. The resource not stands at 217,277 ounces of gold in the indicated category (2.29 million tonnes @ 2.95g/t gold) and 421,013 ounces of gold in the inferred category (4.75 million tonnes @ 2.75 g/t gold).  The overall grade of the Kodo Main Zone has also increased from 2.7 grams per tonne gold to 2.82 grams per tonne gold.

Mwana also noted several interesting characteristics of the project observed to date, including good continuity in the mineralization at depth (and remains open at depth), a lenticular high grade shoot of the main body which is bounded by two north-north-east trending faults on the north and south, no significant internal faulting in the Kodo Main zone.
The junior exploration and development company has mobilized a second drill rig to the site to test the down dip extension of the Kodo Main zone and to add additional resources.

"We are pleased to be able to announce an updated resource estimate on our Zani-Kodo gold prospect. It is particularly encouraging that drilling just 9 additional holes has resulted in this substantial increase in indicated and inferred mineral resources, which indicates that our model is robust, and supports our confidence in the potential of the prospect,” Kalaa Mpinga, CEO of Mwana Africa, commented. “Mwana has so far only drilled 700m along an estimated 9km strike length along the Zani-Kodo Trend, but it is already clear that Zani-Kodo, together with the neighbouring Mongbwalu (AngloGold) and Kibali (formerly Moto Goldmines) concessions, could form one of the world's major undeveloped gold provinces."

Disclosure: The author holds no positions in the company