Mwana Africa unveils lab test results for Zimbabwe gold mine

AIM-listed mining company Mwana Africa has unveiled findings from a laboratory test conducted at its Freda Rebecca Gold Mine in Zimbabwe, revealing the presence of gold.

AIM-listed mining company Mwana Africa has unveiled findings from a laboratory test conducted at its Freda Rebecca Gold Mine in Zimbabwe, revealing the presence of gold.

The company, which commenced testwork in the mine during May 2012, reported that gold grades on the samples received ranged between 0.40 and 0.83 grammes per tonne.

Conventional cyanidation based on carbon-in-leach (CIL) process gave the highest metallurgical recoveries and a 64.3% gold recovery rate was recorded.

The company stated that construction of a pilot plan to validate the laboratory test results had commenced.

Kalaa Mpinga, Chief Executive Officer of Mwana, said: "The initial results from the test work on the tailings at Freda Rebecca are encouraging. Should the results from the pilot plant prove that retreatment of the tailings is viable, a full scale tailings retreatment plant has the potential to contribute significantly to annual gold production at Freda Rebecca."

Mwana Africa is a pan-African, multi-commodity resources company. Its principal operations and exploration activities cover gold, nickel and other base metals.

The company's share price was up 5.79% to 6.30p at 14:09 on Monday.

MF

Recommended

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020

Most Popular

The FTSE 100 is set for a makeover with an influx of new tech stocks
UK stockmarkets

The FTSE 100 is set for a makeover with an influx of new tech stocks

The FTSE 100 – the dullest index in the world – is about to reinvent itself as a host of new firms list on the market. The change is long overdue, say…
24 Jan 2021
Why we won’t see a house-price crash in 2021
House prices

Why we won’t see a house-price crash in 2021

Lockdown sent house prices berserk as cooped up home-workers fled for bigger properties in the country. And while they won’t rise quite as much this y…
18 Jan 2021
Think Tesla is a bubble? This might be the best way to bet on it bursting
Oil

Think Tesla is a bubble? This might be the best way to bet on it bursting

The huge rise in Tesla’s share price means that, by market value, it’s now the sixth-largest company in the US and and the world’s biggest car-maker. …
25 Jan 2021