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Banro discovers new gold zone at Namoya mine

Banro Corp. said March 29 that it discovered new gold mineralization at its Namoya mine in the Democratic Republic of the Congo, where delineation, infill and exploration drilling is ongoing.

Recent exploration drilling on the Bulawayo and Seketi targets at Namoya resulted in the discovery of new zones of gold mineralization.

Drill highlights from the two zones include 29 meters grading 1.8 g/t of gold from a depth of 17 meters and 11 meters grading 4.37 g/t of gold from surface.

Bulawayo, 100 meters south of the Mwendamboko deposit, is interpreted as a footwall zone of mineralization extending from the Muviringu deposit to the west. The Seketi target is located 700 meters south of Mwendamboko.

Banro noted that work to date at Bulawayo has defined a zone measuring about 300 meters along strike and up to 100 meters in width.

"These intersections occur in similar geological settings to adjacent deposits and offer a good opportunity to replenish and grow our resources and reserves," the company's President and CEO John Clarke commented.