The new funds have been earmarked for the definitive feasibility study at the 1. This work will include priority drilling and follow-up exploration programmes.
The company was finally spun-out, as part of diy bitcoin mining rig demerger known as a butterfly-split last month when African Aura split into two separate companies, Afferro Metals LON and Aureus Mining. Shortly after it became an independent company it told that it is on-track to complete the definitive feasibility study DFS for the New Liberty gold project in the fourth quarter of Meanwhile it is set diy bitcoin mining rig accelerate drilling work with several new rigs set to join the programme, on both New Liberty and the earlier stage exploration projects like Ndablama.
At New Liberty a 4, metre of in-fill drilling programme was completed and now another 15, metres is planned, with additional rigs being brought in to complete the drilling on schedule in the third quarter.
The drilling is designed to add additional resource tonnages - on top of the current 1. Also significant portion of the drilling, about 8, metres, will help optimise the pit wall design. The DFS is looking at an open pit and gold processing plant fortonnes of ore each year, for a 8.
New Liberty is expected to produce an averageounces a year in the first five years.