Volt Resources has signed an agreement to conditionally acquire an 85 per cent interest in the Luiri Hill Gold Project in Zambia Already US$20 million has been spent on Luiri Hill and it has the potential to be developed into a medium scale gold mine in the short term
Update of Luiri Hill Gold Project Mineral Resource estimate being prepared in accordance with the 2012 JORC code and will be released in the near future. Technical site visit completed as part of the due diligence programme confirmed the existence of various large stockpiles, pads and dumps.
Along with the update on Luiri Hill, Volt also provided an update on another one of its African projects, the Guinea gold projects. The company said it had officially completed the acquisition of all the issued shares in Gold Republic, which owns three gold projects.
Luiri Advancing Zambia Gold Project August 2012 Africa Luiri Gold has initiated a feasibility study for possible development of a small, 8,000 oz/y gold mine at the site of the historic Dunrobin mine on the companys Luiri Hill gold project 125 km west of Lusaka, Zambia.
The Luiri Hill Project is an advanced gold project with considerable drilling and studies already undertaken. The Matala and Dunrobin deposits, which collectively form the Luiri Hill Project, have the potential to be developed into a medium scale gold mine in the short term.
The project is located in the prolific Siguiri Basin which forms part of the richly mineralised West African Birimian Gold Belt. Volt has also entered into a binding term sheet to conditionally acquire an 85% interest in the Luiri Hill Gold Project located in Zambia. The Luiri Hill Project is an advanced gold project with considerable drilling
Luiri Hill Gold Project, South Central Zambia Luiri Gold39;s wholly owned Zambian subsidiary, Luiri Gold Mines Limited holds mineral tenements within southern central Zambia covering approximately 1,200 sq.km of highly prospective exploration ground focused on the Matala and Dunrobin gold deposits collectively called the Luiri Hill Project.