Ethiopia Regional
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| Nyota has an interest in Exploration Licences covering an area of approximately 2,500 sq km within Ethiopia, on the Arabian Nubian Shield. The Exploration Licences located over and around the Tulu Kapi deposit are held by Nyota Minerals (Ethiopia) Limited, which as from 30 December 2013 is owned 75% by KEFI Minerals plc, a fellow AIM gold company, which is also manager of the Tulu Kapi gold project. Nyota owns a 100% interest in two Exploration Licences: Brantham and Towchester (totalling 2,300 sq km) which are located approximately 100 km north of Tulu Kapi (the “Northern Blocks”) and cover four distinct parcels of land. Ethiopia requires annual licence renewals, and the areas indicated on the map below are for illustrative purposes only. |
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| A Feasibility Study (“FS”) in respect of the Tulu Kapi deposit was completed in December 2012, based on a Mineral Resource (Indicated and Inferred) of 24.90 million tonnes @ 2.34g/t gold containing 1,872,000 ounces of gold. Further exploration and development work on this project will be led by KEFI Minerals plc. |
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| A separate Regional exploration programme is underway on the Northern Blocks to test prospects identified within the Brantham and Towchester Exploration Licences. |
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| The pages in this section provide more detail on each of the activities summarized above. |
