Caracal Gold plc announced that it has signed formal agreements to acquire a 100% interest in the advanced Nyakafuru Gold Project and secure a 75% interest in the Simba Gold Project, both located in the world-class Lake Victoria Gold Fields in Tanzania.
We took the opportunity to speak with the commercial director, Jason Brewer about today update and how this changes the dynamics of the company moving forward into 2022.
Robbie McCrae, CEO of Caracal, said, “Caracal is committed to growing its gold mining business in East Africa and on the back of our existing gold production and exploration activities at the Kilimapesa Gold Mining and Processing Operations in Kenya, where we continue to look at increasing gold production along with gold reserves and resources.”
“We are committed to Kenya and the broader East Africa region and as one of the largest gold producing countries in Africa, Tanzania offers many exciting opportunities; we are therefore delighted to have been able to proceed and sign formal agreements on the Nyakafuru and Simba Gold Projects, which have proven high-grade shallow gold resource and historical mining and development studies, that will allow us to accelerate their developments.”
“The previous exploration and development study work at Nyakafuru by Resolute is of a very high standard and the opportunity to rapidly develop the Voyager-Mentelle, Cullen and Leeuwin deposits as shallow conventional open-pit operations is one we will be clearly focused on. The potential to increase resources at Nyakafuru with the additional 0.4Mozs, which is under current mining and prospecting license applications, is something we will progress in parallel.”
“Located just 25km north-east of Nyakafuru, the Simba Project is also an exciting gold project with a JORC resource of 320,000ozs with all indications that there is a very broad and shallow gold system with the potential for multiple parallel lodes. We are hoping therefore to incorporate Simba into the broader Nyakafuru development.”
“We are delighted to have made our first new gold project acquisitions as part of our growth strategy in East Africa. The acquisitions are strategically aligned to our existing gold operations in Kenya and our management team is excited by the prospects of accelerating our extended exploration and development activities in the Lake Victoria Gold Fields in Tanzania”
