Goldplat begins drilling at Kilimapesa

Goldplat focused on gold exploration in Kenya, Ghana and Burkina Faso list of used milling and crushing machinesAfrica-focused gold miner Goldplat said it has begun the first phase of its drilling programme aimed at upgrading its resource at Kilimapesa in western Kenya to 500,000 ounces. WH Ireland reiterated its ‘buy’ recommendation. The house broker has a 21 pence price target for the shares, which had nudged up a quarter of a penny to 11.25 pence each by 9:30am today.

Goldplat said that it now has the title deed required for the issuing of the Kilimapesa mining lease at the property and documentation has been delivered to the Kenyan Commissioner of Mines and Geology. The application will now be gazetted in the Kenyan national press for three months before the mining lease can finally be issued. In the mean time, the company is resuming on-reef development at Kilimapesa as allowed for by a mining location licence that was issued late last year. The firm is also restarting underground development with a view to increasing the 250 metre underground strike exposure of the auriferous quartz veins at the Kilimapesa Hill target area.