KEFI Minerals has obtained confirmation that its application for further exploration in the Tulu Kapi district area will be cleared once development starts at the gold project in Ethiopia.
The confirmation was received from the Ethiopian Government’s Ministry of Mines, Petroleum and Natural Gas.
Project development plans have been adjusted to incorporate an extra 25% ore processing capacity, to accommodate anticipated increased production.
Commenting 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 programs will yield further economic discoveries in the district.
“KEFI looks forward to drilling many priority targets during the construction at Tulu Kapi.”
With a Probable Ore Reserve of 1.05 million ounces and Mineral Resources totalling 1.72 million ounces of gold, KEFI is advancing the Tulu Kapi Gold Project in Western Ethiopia towards development.
The Tulu Kapi Mining Agreement between the Ethiopian Government and KEFI was formalised in April 2015. The terms include a 20-year Mining Licence, a 5% Government free-carried interest and full permits for the development and operation of Tulu Kapi.