Dehai News

(MiningWeekly.com) Andiamo Exploration raising funds to explore Eritrea licences

Posted by: Biniam Tekle

Date: Monday, 12 June 2017


Andiamo Exploration raising funds to explore Eritrea licences

8TH JUNE 2017 

BY: MEGAN VAN WYNGAARDT 
CREAMER MEDIA CONTRIBUTING EDITOR ONLINE



JOHANNESBURG (miningweekly.com) – Private UK-based junior miner Andiamo Exploration is seeking to raise $2-million to undertake exploration at its licences, in Eritrea, and continue the development of its mines.

Speaking at the Junior Indaba, in Johannesburg, CEO Tim Williams on Thursday said the company, in which mineral exploration company Ortac Resources holds an 18.5% stake, was currently exploring the Haykota volcanogenic massive sulphide licence, which covered 271 km2.

Williams pointed out that the company had just completed a 16-hole 
drilling programme at the project, with samples currently undergoing preparation before being shipped off for analysis, which should be completed within the next six weeks.

The miner is now targeting multimillion-tonne massive sulphide copper, zinc and gold surface deposits within the licence, as well as multimillion-ounce shear-hosted golddeposits at surface.

It is also advancing its Yacob Dewar gold project, which has the potential to become a low-cost near-term mine. 

EDITED BY: CREAMER MEDIA REPORTER


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