Monday, 20th September 2004 (2535 views)

Canada based Banro Corporation has announced today that it has launched a new exploration programme on its properties within the Twangiza-Namoya gold belt, located in the South Kivu Province, in the Democratic Republic of the Congo.

The key aim for the 2004-2005 initiative is to double the current resource categories at its properties.

To achieve this first of all geographical mapping, grid establishment and soil and geochemical sampling will be conducted to get a better idea of mineralisation zones.

President and CEO, Peter Cowley, said: "With the proceeds of recently completed financing, Banro is well funded and has recruited an experienced exploration team with a proven track record in Africa, led by Mike Skead, formerly of Ashanti Goldfields.

"Our office in Bukavu is currently being expanded with personnel and field equipment and we are pleased to be moving forward with our exploration program," he added.

The $10 million exploration programme is set to begin in October and will mainly focus on the firm's Twangiza, Kamituga, Lugushwa and Namoya properties.

 

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