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AKOBO) (OTCQX:AKOBF).
Akobo Minerals, a prominent gold exploration and mining company based in
Scandinavia with operations in Ethiopia, is pleased to announce a significant
development in its underground operations at the Segele mine in Ethiopia. The
company has successfully intersected the ore body in the prospect drive just off
the Eastern Winze, marking an important milestone in its strategic mine
development efforts.
[image]
LEFT: Hand specimen samples of metapyroxenite with visible gold. RIGHT: In-situ
exposure of the metapyroxenite in the prospect drive
Akobo Minerals has been focusing on the comprehensive development of the Eastern
Winze, which is crucial for facilitating future production. The primary emphasis
has been on the development of the prospect drive, which will connect the
Eastern and Western Winzes. The crosscut between the two winzes will increase
ore extraction rates, facilitate startup of stoping, increase safety as we will
have two exits from the mine and support efficient ventilation. By concentrating
on this drive, the company aims to establish a solid foundation for more
effective operations. The strategic positioning of the Eastern Winze at a lower
elevation further aids in efficient stoping operation, ensuring optimal
conditions for the coming ore extraction.
Following successful commissioning activities, Akobo Minerals is now capable of
producing gold from the Segele mine. The ongoing development and regular
blasting are anticipated to advance into the Segele ore body. The company is
still in the development phase, progressing towards the first trial stope and
following that the very gold rich Stope 01, as part of its broader mine
development plan. Akobo Minerals remains committed to responsible and strategic
mining practices, aiming to deliver long-term value for its stakeholders.
For more information
Jørgen Evjen, CEO, Akobo Minerals
Mob: (+47) 92 80 40 14
Mail: jorgen@akobominerals.com
LinkedIn: www.linkedin.com/company/akobominerals
Web: www.akobominerals.com
About Akobo Minerals
Akobo Minerals is a Scandinavian-based gold exploration and boutique mining
company, currently holding an exploration license covering 182 km2 and a mining
license covering 16 km2 in the Gambela region and Dima Woreda, Ethiopia. The
company has established itself as the leading gold exploration company in
Ethiopia through more than 14 years of on-the-ground activity, which has now
been enhanced further with the development of its Segele mine.
Akobo Minerals’ Segele mine has an Inferred and Indicated Mineral Resource of
68,000 ounces, yielding a world-class gold grade of 22.7 g/ton. Still open to
depth, the gold mineralised zone continues to expand and will have a positive
impact on future resource estimates and the life expectancy of the mine. The
exploration license holds numerous promising exploration resource-building
prospects in both the vicinity of Segele and in the wider license area.
Akobo Minerals has an excellent relationship with local communities all the way
up to national authorities and the company places environment and social
governance (ESG) at the heart of its activities - as demonstrated by a planned,
industry-leading, extended shared value program.
Akobo Minerals has built a strong local foothold based on the principles of
sound ethics, transparency and communication, and is ready to take on new
opportunities and ventures as they arise. The company is uniquely positioned to
become a major player in the future development of the very promising Ethiopian
mining industry. The company is headquartered in Oslo and is publicly listed on
the Euronext Growth Oslo Exchange and the Frankfurt Stock Exchange under the
ticker symbol AKOBO. For US investors, Akobo Minerals
AB (https://www.otcmarkets.com/stock/AKOBF/quote?utm_source=Press+Release&utm_med
ium=Press+Release&utm_campaign=New+OTCQX+Company) (OTCQX: AKOBF) is traded on
the OTCQX Best Market, adhering to high financial standards, best practice
corporate governance, and compliance with U.S. securities laws. Additionally,
the company has a professional third-party sponsor introduction, and investors
can access current financial disclosures and Real-Time Level 2 quotes for the
company on www.otcmarkets.com.
Akobo Minerals places great emphasis on meeting and exceeding industry
standards, fully complying with all aspects of the JORC code, 2012. For detailed
information on their adherence to this code, please refer to
https://www.jorc.org/. Akobo Minerals’ unwavering commitment to ethical
practices, community engagement, and environmental responsibility positions them
as a formidable force in the evolving landscape of the Ethiopian mining sector.
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