REG - Caracal Gold PLC - High Grade Zone on Kilimapesa Hill

Caracal GoldAnnouncement

30/03/2023 07:00

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RNS Number : 6849U  Caracal Gold PLC  30 March 2023

30(th) March 2023

 

Caracal Gold PLC

('Caracal' or the 'Company')

High Grade Zone on Kilimapesa Hill

Caracal Gold PLC, the expanding East African gold producer with over
1,300,000oz of JORC compliant gold resources, is pleased to confirm ongoing
delivery of high-grade ore from the high-grade zone in the Kilimapesa Hill
deposit to the Milling plant.

Highlights

·      Ongoing 360tpd of high-grade material with average grades from
3.39g/t to 4.92g/t being processed,

·      The initial mining plan has been extended to over 180 days of
delivery of high-grade material to the milling plant ,

·      Exploration to define the full potential of the high-grade zone
in ongoing.

The average grades for the period from 19(th) March to 28(th) March 2023 are
detailed below:

 Date    Average Grade
 19-Mar  3.49g/t
 20-Mar  3.68g/t
 21-Mar  3.94g/t
 22-Mar  3.55g/t
 23-Mar  3.73g/t
 24-Mar  4.92g/t
 25-Mar  4.15g/t
 26-Mar  3.65g/t
 27-Mar  3.51g/t
 28-Mar  3.39g/t

 

Hourly belt cuts are taken on the mill feed conveyor and the daily summary
sampling sheets for samples are attached. These samples are assayed in the
Kilimapesa laboratory. Sampling and analytical procedures are subject to a
comprehensive quality assurance and quality control program. The QAQC program
involves insertion of duplicate samples, blanks and certified reference
materials in the sample stream. Gold analyses are performed by standard fire
assaying protocols using a 50-gram charge with atomic absorption (AAS) finish
and a gravimetric finish performed for assays greater than 10 grams per tonne.

Tonnages mined improved to over 400tpd from the high-grade zone, recoveries
remained in line at 75%, the  plant availability was affected by power
outages after pole on the main feed line to plant collapsed during a heavy
rainstorm - plant availability for the period was 75%.

Robbie McCrae, CEO of Caracal commented:

"It has been 20 days since we started mining and processing ore from the
Kilimapesa Hill high-grade zone and the team are pleased with the results
across the board from the exploration to the mining and to the processing. The
mining team have worked hard to complete the access roads and strip waste and
now are focussed on increasing the tonnage mined and delivered to the Milling
plant. At the Milling plant the focus Is to increase the tonnage from 360tpd
to 500tpd over the next few weeks. We are looking forward to updating the
market on the results from the exploration work on the high-grade zone in the
near future".

 * * ENDS * *

 

For further information visit www.caracalgold.com or contact the following:

 

 Caracal Gold plc                                    robbie@kilimapesa.com

 Robbie McCrae
 Clear Capital Markets Ltd                           +44 203 897 0981

 Joint Broker                                        +44 203 869 6086

 Keith Swann / Jonathan Critchley
 VSA Capital Ltd                                     +44 203 005 5000

 Financial Adviser and Joint Broker

 Andrew Raca (Corporate Finance)

 DGWA, the German Institute for Asset and            info@dgwa.org (mailto:info@dgwa.org)

 Equity Allocation and Valuation

 European Investor and Corporate Relations Advisor

 Katharina Löckinger

 

 

 

 

 

Qualified Person:

Mr. Franck Bizouerne, P.Geo., Group Mineral Resource Manager of Caracal Gold
PLC, is the Company's Competent Person under JORC Code "Standards of
Disclosure for Mineral Projects" and has reviewed and assumes responsibility
for the scientific and technical content in this press release.

 

Notes:

Caracal Gold plc is an expanding East African focused gold producer with a
clear path to grow production and resources both organically and through
strategic acquisitions. Its aim is to rapidly increase production to
+50,000ozs p.a. and build a JORC compliant resource base of +3Moz. The company
is progressing a well-defined mine optimisation strategy at its 100% owned
Kilimapesa Gold Mine in Kenya, where there is significant mid-term expansion
potential and the ability to increase gold production to 24,000oz p.a. and the
resource to +2Moz (current JORC compliant resources of approx. 706,000oz).
Alongside this, Caracal is undertaking a targeted exploration programme at the
Nyakafuru Project in Tanzania, which has an established high-grade shallow
gold resource of 658,751oz at 2.08g/t contained within four deposits over 280
km2 and appears amenable to development as a large scale conventional open pit
operation.

Caracal's experienced team has a proven track record in successfully
developing and operating mining projects throughout Africa.

The Company is a responsible mining and exploration company and supports the
positive social and economic change that it contributes to the communities in
the regions that it operates. It is a proudly East African-focused company: it
buys locally, employs locally, and protects the environment and its employees
and their families' health, safety, and wellbeing.

Caracal's shares are quoted on the Main Market of the London Stock Exchange
(LON: GCAT) and on the Frankfurt Stock Exchange (FSE: 6IK). The Company is
also in the process of listing on the Nairobi Securities Exchange.

 

 

 BELT CUT ASSAYS
 Source: Central Pit 2A
 Field Grade; 4.02g/t Au
 19th MARCH 2023
 BELTCUT SAMPLES  ASSAYS (g/t Au)
 0000hrs          2,99
 0100hrs          3,02
 0200hrs          6,29
 0300hrs          3,43
 0400hrs          3,43
 0500hrs          4,65
 0600hrs          4,62
 0700hrs          3,52
 0800hrs          3,04
 0900hrs          3,37
 1000hrs          3,56
 1100hrs          3,35
 1200hrs          3,29
 1300hrs          3,25
 1400hrs          2,79
 1500hrs          2,76
 1600hrs          2,61
 1700hrs          2,86
 1800hrs          3,63
 1900hrs          2,84
 2000hrs          3,51
 2100hrs          3,79
 2200hrs          PLANT BREAKDOWN
 2300hrs          3,65
 Average Grade    3.49g/t Au

 

 

 

 BELT CUT ASSAYS
 Source: Central Pit 2A
 Field Grade; 4.02g/t Au
 20th MARCH 2023
 BELTCUT SAMPLES  ASSAYS(g/t Au)
 0000hrs          5,31
 0100hrs          3,62
 0200hrs          5,78
 0300hrs          PLANT DOWNTIME
 0400hrs          PLANT DOWNTIME
 0500hrs          PLANT DOWNTIME
 0600hrs          PLANT DOWNTIME
 0600hrs          PLANT DOWNTIME
 0700hrs          PLANT DOWNTIME
 0800hrs          PLANT DOWNTIME
 0900hrs          PLANT DOWNTIME
 1000hrs          PLANT DOWNTIME
 1100hrs          PLANT DOWNTIME
 1200hrs          PLANT DOWNTIME
 1300hrs          PLANT DOWNTIME
 1400hrs          PLANT DOWNTIME
 1500hrs          2,73
 1600hrs          3,27
 1700hrs          2,26
 1800hrs          3,16
 1900hrs          3,3
 2000hrs          4,12
 2200hrs          2,99
 2300hrs          3,99
 Average Grade    3.68g/t Au

 

 

 BELT CUT ASSAYS
 Source: Central Pit 2A
 Field Grade; 4.02g/t Au
 21st MARCH 2023
 BELTCUT SAMPLES  ASSAYS(g/t Au)
 0000hrs          3,58
 0100hrs          PLANT DOWNTIME
 0200hrs          PLANT DOWNTIME
 0300hrs          3,5
 0400hrs          PLANT DOWNTIME
 0500hrs          PLANT DOWNTIME
 0600hrs          PLANT DOWNTIME
 0700hrs          4,2
 0800hrs          6,32
 0900hrs          3,06
 1000hrs          3,34
 1100hrs          4,56
 1200hrs          2,99
 1300hrs          3,47
 1400hrs          3,62
 1500hrs          3,35
 1600hrs          6,48
 1700hrs          5,97
 1800hrs          4,18
 1900hrs          4,08
 2000hrs          2,71
 2100hrs          3,13
 2200hrs          2,98
 2300hrs          3,31
 Average Grade    3.94g/t Au

 

 

 BELT CUT ASSAYS
 Source: Central Pit 2A (2nd Cut)
 Field Grade; 4.02g/t Au
 22nd MARCH 2023
 BELTCUT SAMPLES  ASSAYS(g/t Au)
 0000hrs          2,84
 0100hrs          3,23
 0200hrs          3,19
 0300hrs          2,65
 0400hrs          2,68
 0500hrs          3,51
 0600hrs          3,09
 0700hrs          3,45
 0800hrs          2,36
 0900hrs          2,87
 1000hrs          3,94
 1100hrs          5,24
 1200hrs          3,87
 1300hrs          3,39
 1400hrs          4,34
 1500hrs          3,75
 1600hrs          3,23
 1700hrs          4,43
 1800hrs          4,2
 1900hrs          3,8
 2000hrs          3,25
 2100hrs          4,53
 2200hrs          3,64
 2300hrs          3,6
 Average Grade    3.55g/t Au

 

 

 BELT CUT ASSAYS
 Source: Central Pit 2A (2nd Cut)
 Field Grade; 5.3g/t Au
 23rd MARCH 2023
 BELTCUT SAMPLES  ASSAYS(g/t Au)
 0000hrs          4,52
 0100hrs          4,2
 0200hrs          4,55
 0300hrs          4,54
 0400hrs          4,4
 0500hrs          5,25
 0600hrs          PLANT DOWNTIME
 0700hrs          3,75
 0800hrs          3,96
 0900hrs          3,26
 1000hrs          3,12
 1100hrs          3,19
 1200hrs          3,24
 1300hrs          3,06
 1400hrs          2,75
 1500hrs          2,96
 1600hrs          2,82
 1700hrs          4,14
 1800hrs          3,36
 1900hrs          PLANT DOWNTIME
 2000hrs          PLANT DOWNTIME
 2100hrs          PLANT DOWNTIME
 2200hrs          PLANT DOWNTIME
 2300hrs          PLANT DOWNTIME
 Average Grade    3.73g/t Au

 

 

 

 BELT CUT ASSAYS
 Source: Central Pit 2A (2nd Cut)
 Field Grade; 5.3g/t Au
 24th MARCH 2023
 BELTCUT SAMPLES  ASSAYS(g/t Au)
 0000hrs          PLANT DOWNTIME
 0100hrs          PLANT DOWNTIME
 0200hrs          PLANT DOWNTIME
 0300hrs          PLANT DOWNTIME
 0400hrs          PLANT DOWNTIME
 0500hrs          PLANT DOWNTIME
 0600hrs          PLANT DOWNTIME
 0700hrs          PLANT DOWNTIME
 0800hrs          PLANT DOWNTIME
 0900hrs          PLANT DOWNTIME
 1000hrs          PLANT DOWNTIME
 1100hrs          PLANT DOWNTIME
 1200hrs          PLANT DOWNTIME
 1300hrs          PLANT DOWNTIME
 1400hrs          PLANT DOWNTIME
 1500hrs          PLANT DOWNTIME
 1600hrs          PLANT DOWNTIME
 1700hrs          PLANT DOWNTIME
 1800hrs          3,48
 1900hrs          6,54
 2000hrs          3,76
 2100hrs          4,55
 2200hrs          5,01
 2300hrs          6,16
 Average Grade    4.92g/t Au

 

 

 

 BELT CUT ASSAYS
 Source: Central Pit 2A (2nd Cut)
 Field Grade; 5.3g/t Au
 25th MARCH 2023
 BELTCUT SAMPLES  ASSAYS(g/t Au)
 0000hrs          3,48
 0100hrs          5,29
 0200hrs          4,87
 0300hrs          PLANT DOWNTIME
 0400hrs          PLANT DOWNTIME
 0500hrs          PLANT DOWNTIME
 0600hrs          PLANT DOWNTIME
 0700hrs          PLANT DOWNTIME
 0800hrs          PLANT DOWNTIME
 0900hrs          5,84
 1000hrs          3,33
 1100hrs          3,84
 1200hrs          3,48
 1300hrs          4,3
 1400hrs          4,72
 1500hrs          3,09
 1600hrs          2,99
 1700hrs          3,17
 1800hrs          5,45
 1900hrs          2,96
 2000hrs          3,88
 2100hrs          3,74
 2200hrs          5,01
 2300hrs          5,19
 Average Grade    4.15g/t Au

 

 

 BELT CUT ASSAYS
 Source: Central Pit 2A (2nd Cut)
 Field Grade; 5.3g/t Au
 26th MARCH 2023
 BELTCUT SAMPLES  ASSAYS(g/t Au)
 0000hrs          3,91
 0100hrs          3,24
 0200hrs          2,22
 0300hrs          3,24
 0400hrs          2,99
 0500hrs          3,51
 0600hrs          3,67
 0700hrs          4,15
 0800hrs          3,09
 0900hrs          2,87
 1000hrs          3,22
 1100hrs          2,68
 1200hrs          4,24
 1300hrs          3,37
 1400hrs          5,41
 1500hrs          PLANT DOWNTIME
 1600hrs          4,48
 1700hrs          PLANT DOWNTIME
 1800hrs          PLANT DOWNTIME
 1900hrs          4,85
 2000hrs          4,07
 2100hrs          4,08
 2200hrs          PLANT DOWNTIME
 2300hrs          PLANT DOWNTIME
 Average Grade    3.65g/tAu

 

 

 BELT CUT ASSAYS
 Source: Central Pit 2A (2nd Cut)
 Field Grade; 4.6g/t
 27th MARCH 2023
 BELTCUT SAMPLES  ASSAYS(g/t Au)
 0000hrs          PLANT DOWNTIME
 0100hrs          2,98
 0200hrs          3,33
 0300hrs          3,95
 0400hrs          3,99
 0500hrs          4,23
 0600hrs          PLANT DOWNTIME
 0700hrs          4
 0800hrs          4,12
 0900hrs          3,25
 1000hrs          3,44
 1100hrs          3,44
 1200hrs          PLANT DOWNTIME
 1300hrs          PLANT DOWNTIME
 1400hrs          PLANT DOWNTIME
 1500hrs          PLANT DOWNTIME
 1600hrs          3,97
 1700hrs          3,1
 1800hrs          4,12
 1900hrs          PLANT DOWNTIME
 2000hrs          3,44
 2100hrs          2,68
 2200hrs          2,9
 2300hrs          2,75
 Average Grade    3.51g/t Au

 

 

 BELT CUT ASSAYS
 Source: Central Pit 2A (2nd Cut)
 Field Grade; 4.6g/t Au
 28th MARCH 2023
 BELTCUT SAMPLES  ASSAYS(g/t Au)
 0000hrs          3,4
 0100hrs          3,61
 0200hrs          3,41
 0300hrs          2,5
 0400hrs          3,9
 0500hrs          3,81
 0600hrs          4,12
 0700hrs          4,31
 0800hrs          3,48
 0900hrs          3,24
 1000hrs          4,03
 1100hrs          2,96
 1200hrs          2,97
 1300hrs          3,25
 1400hrs          3,9
 1500hrs          2,78
 1600hrs          2,76
 1700hrs          2,8
 1800hrs          3,72
 1900hrs          3,14
 2000hrs          5,04
 2100hrs          2,8
 2200hrs          2,57
 2300hrs          2,96
 Average Grade    3.39g/t Au

 

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