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KEFI plans large exploration programme for Tulu Kapi

By BFN News | 07:23 AM | Monday 23 October, 2017

KEFI Minerals has received confirmation from the Ethiopian ministry of mines, petroleum and natural gas that the Tulu Kapi District area proposed to be explored by KEFI has been set aside with the intention of being granted to the KEFI group upon commencement of development at Tulu Kapi gold project. KEFI said project development plans had been adjusted to incorporate an extra 25% ore processing capacity, to accommodate anticipated increased production. In addition, the funding of the planned exploration had been built into the project finance plans. It said the relevant exploration licence application had been submitted by the company (via its wholly-owned subsidiary, KEFI Minerals (Ethiopia) Limited and covered the following: - an area of approximately 70km by 15km (c. 1,000 km2) covering known prospects within c. 50sq kms of Tulu Kapi, which is considered an economic trucking distance to the planned processing plant - known mineralised shear zones including the Guji-Komto Belt with known gold deposits and the Kata area with several known Volcanic Hosted Massive Sulphide (VHMS) belts containing gold and base metals KEFI's executive chairman, Harry Anagnostaras-Adams, said: 'The exploration area reserved for KEFI covers numerous prospects in highly prospective structural corridors, such as shallow gold mineralisation west of Tulu Kapi and high-grade gold-copper mineralisation north of Tulu Kapi - the common denominator being that all are within trucking distance of the planned Tulu Kapi processing infratsructure. 'It is in all stakeholders' interests for KEFI to fully explore the Tulu Kapi District in order to maximise the scale and longevity of the operation. 'KEFI is confident that its focused exploration programmes will yield further economic discoveries in the district. 'KEFI looks forward to drilling many priority targets during the construction at Tulu Kapi.' Story provided by

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