Nyota Minerals (LON:NYO) announced today that it is on track to release its second quarter JORC compliant resource update, with 35 drill holes completed. Nyota Minerals (previously Dwyka Diamonds plc) is focused on the exploration and development of gold projects in a new gold province in Ethiopia and a nickel deposit in Burundi. Nyota plans to rapidly advance its Ethiopian gold project to development and progress its exploration programme at its longer term nickel project. All of Nyota's assets are in Africa, where its management team has significant operational experience. Nyota plans to rapidly advance its Ethiopian gold project during 2010 and progress its exploration programme at its longer term nickel project.
The report today referred to their Tulu Kapi gold project in Ethiopia, where the first 18 reverse circulation holes of an ongoing drill programme have been released. According to the report, the accumulation of assay data is ongoing and, due to the significant number of high-grade intersections, repeat assay and verification will be required to confirm gold grades. An update and upgrade of the existing Tulu Kapi Inferred Resource of 690,000oz remains on track for completion during the second quarter of 2010. Melissa Sturgess, CEO, commented:
"We are very encouraged by the quality of the drilling results to date. I feel that we are now starting to understand the orebody and its potential. Work on the Tulu Kapi Project is gaining momentum and we look forward to reporting the upgraded resource estimate to shareholders next Quarter."
