Since 2009, CASA has been exploring for gold in South Kivu Province in the east of the DRC. It has discovered and delineated a JORC compliant inferred gold resource of 1.2M ozs on the Akyanga ridge and a deposit nearby, 2km from the small town of Misisi.
Misisi is located 250km south of Bukavu, the provincial capital, and 140km north of Kalemie, located on Lake Tanganyika, in the east of the country.
CASA has spent approx. $30 million over the last six years on exploration, related studies and logistical development on the Project. The Project is held by Leda Mining Congo SA, in which CASA holds a 71.25% interest, with management control. Leda holds a 30-year Mining Licence granted in 2015. The Licence covers 133 sq.km over the Akyanga deposit and a 50km long mineralised corridor where CASA is exploring further gold bearing anomalies.
SRK Consulting (UK) (“SRK”) has reported a Mineral Resource, effective of 20 March 2014 within a US$1,200/Oz gold selling price optimised pit shell at a 0.5g/t Au Cut-off grade, which comprises an Inferred oxide gold Mineral Resource of 5.5 Million tonnes (“Mt”) at a grade of 1.5g/t Au for approximately 272kozs of contained gold. SRK further reports an Inferred transition gold Mineral Resource of 16.2 Mt at a grade of 1.8g/t Au for an approximately 927 kozs of contained gold. The total reported Inferred Mineral Resource is 21.7 Mt, at a grade of 1.7g/t Au, for approximately 1,199 kozs of contained gold.
CASA Mining Ltd: Mining Licence (blue) at Misisi, DRC. Please click on the above image to see a larger scale map.
Over the last year CASA has focused its efforts on optimising the development of the Akyanga deposit on a staged basis.
Gold at Akyanga is non-refractory, with no sulphides; metallurgical test work by SGS and Peacocke Simpson has shown good gold recoveries with gravity processing, of around 50%. Treatment of the gravity tails by CIL indicates gold recoveries of 94%.
There is excellent potential for further resource definition within the Licence area. Geological and geophysical exploration by CASA has identified 8 further significant gold anomalies in the Licence area.
The Akyanga deposit is open to the north, south and down dip to the east. A structural re-interpretation of the geological model together with the addition of a few holes drilled since the 2014 resource estimate has enabled AMC to redefine the resource at Akyanga as 14.3Mt at 2.27g/t for 1.05Mozs of gold at a 1.5g/t cut off. This is within a larger lower grade envelope of 29.7Mt at 1.65g/t for 1.57Mozs at a 0.5g/t cut off. CASA is currently carrying out the first phase (2,200m) of a 5,000m drill program with the aim of identifying over 2Mozs at Akyanga.