The resource at Moto Goldmines‘ (MGL-T, MOE-A, MOE-L) Moto Gold project in northeastern Democratic Republic of Congo (DRC) continues to grow.
On Apr. 7 the company announced a 34% boost to its indicated resource, upping it to 3.75 million oz. of gold. The company also reports a 51% increase in its inferred resources to 12.35 million oz.
The Moto Gold Project is a joint venture between L’Office des Mines d’Or de Kilo-Moto (OKIMO), Orgaman and Moto.
Indicated resource comes from 43.44 million tonnes of ore at 2.7 grams per tonne and inferred resources come from 100.86 million tonnes grading 3.8 grams gold per tonne.
And Moto isn’t done exploring the property yet. In its press release the company says a further resource review is planned for the third quarter of 2006.
The review will include analysis of further infill drilling results from the Gorumbwa and Karagba-Chauffeur-Durba sites located within the Moto project. The company plans to upgrade the existing resources at the sites to the indicated category from the inferred.
The independent resource estimate was carried out by Australian-based Cube Consulting. Cube visited the project in March 2006.
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