AMN - BOTSWANA: Alecto makes rapid Mowana progress

Alecto Minerals has appointed a mining contractor to commence mining operations at the Mowana Copper Project in Botswana where rapid progress is being made to recommence production in the near term.

These developments demonstrate Alecto’s commitment to applying a new approach at Mowana, which will enable it to rapidly leverage the existing measured and indicated JORC-compliant mineral resource inventory of 683,000 tonnes of copper and the inferred resource of 945,000 tonnes.

Highlights:

• Giant Transport Holdings has been contracted to undertake mining operations for an initial period of six months, with the mining contractor’s site having been established;

• Two bulldozers, two excavators and five Caterpillar 40-t ADTs have been mobilised to site to augment the company’s own excavator, dozer and wheel loader, with further equipment in transit;

• Pit clean-up operations and reverse circulation grade control drilling can now commence testing the near-term production targets;

• Contract for supply of fuel and lubricants signed with first delivery anticipated in the next 2-3 weeks;

• Strong recruitment drive under way with an unprecedented response to local recruitment advertisements. An excellent local pool of potential candidates exists and to date more than 150 positions have been filled; and

• Higher than usual rainfalls in Botswana over the past few months has necessitated the commencement of a de-watering program and this is progressing well. There has been no impact on the immediate mine plan as the near-term production areas are outside the flooded areas and continue to be accessible.

Mark Jones, CEO of Alecto said: “The arrival of our mining contractor and the earthmoving equipment on site marks the beginning of a very exciting three-month period, which will be characterised by production, sales and renewed activity at Mowana.

“We benefit from partnerships with commercial mining entities such as PenMin and, utilising their strong understanding of the project, we have established a new approach at Mowana, which will culminate in the existing plant being upgraded and the management of the project refined to deliver greater production at a lower cost than has historically been achieved, such that production activity is profitable even at depressed commodity prices.

“Whilst the water in the pit is not ideal, it does not actually impact our near-term production plans and with funding and metal offtake already secured, we are well placed to progress a rapid start-up.

“With grade control drilling due to commence, recruitment of key personnel continuing and process plant start-up planned shortly, this project is becoming a tangible reality and I look forward to reporting on our transformation into a copper producer in the near future.”

Alecto Minerals is an African focused, gold and copper exploration and development company quoted on AIM with gold exploration projects in Mali, Botswana, Burkina Faso and Mauritania and a development project with near-term gold production in Zambia.

www.alectominerals.com

News courtesy of International Mining