Banro has provided an update on its exploration activities at its wholly-owned Twangiza project on the Twangiza-Namoya gold belt in the Democratic Republic of the Congo.

The discovery of a high-grade mineralized zone in the Ntula prospect has been made through an adit sampling and mapping program, which is part of the low-key ground maintenance regional exploration program being undertaken by the Company.

Commenting on the results, Banro President and CEO, John Clarke said, "We are excited to identify an extension to the Twangiza West mineralization. This will be carefully drilled to grow the oxide resource of the Twangiza mine. We are also encouraged by the high-grade results of the ground maintenance exploration program in Twangiza, especially at the Ntula prospect where previous work using auger drilling and trenches had outlined bedrock mineralization. This has now been confirmed at depth through adit sampling and mapping."

During the period 2013 to 2016, Banro focused on brownfields (near mine) exploration programs to grow and replace the mineral reserves of its operating mines. Limited exploration activities elsewhere within the Twangiza concession focused on grass root target generation and delineation of new prospects. These activities included adit sampling, geological mapping and channel sampling, and auger drilling at the Ntula prospect. The brownfields exploration program focused on the near-mine Twangiza West flanking structure.

Interim Program Update

Near Mine Exploration
Brownfield exploration was conducted at the Twangiza West flanking structure and the Cirindye target, respectively located to the immediate west and one kilometre east of the Twangiza Main deposit. During the period, 34 auger holes totaling 167.50 metres were drilled. Significant bedrock mineralization intersections from the Twangiza West zone auger drilling include:

  • TAD-1563 – 6.50 metres grading 2.67 g/t Au from 0.00 metres,
  • TAD-1564 – 2.00 metres grading 1.16 g/t Au from 0.00 metres,
  • TAD-1566 – 6.50 metres grading 1.42 g/t Au from 0.00 metres,
  • TAD-1568 – 5.50 metres grading 1.71 g/t Au from 0.00 metres,
  • TAD-1578 – 6.50 metres grading 1.03 g/t Au from 0.00 metres,
  • TAD-1580 – 4.50 metres grading 1.20 g/t Au from 0.00 metres,
  • TAD-1581 – 4.50 metres grading 1.48 g/t Au from 0.00 metres,
  • TAD-1582 – 5.50 metres grading 1.34 g/t Au from 0.00 metres,
  • TAD-1583 – 1.50 metres grading 2.14 g/t Au from 0.00 metres,
  • TAD-1585 – 1.50 metres grading 2.63 g/t Au from 0.00 metres and
  • TAD-1592 – 5.00 metres grading 3.01 g/t Au from 0.00 metres.

These intersections have outlined a 250-metre long by 100 metre-wide block within a consistent bedrock mineralized zone within the 1.6 kilometer-long Twangiza West flanking structure. Follow up work will involve RC and diamond drilling to delineate mineralization at shallow depth for oxide resources.

At the Cirindye prospect, 41 channels equivalent to 238.60 metres were completed. These channels were done in exposures along the parallel-trending narrow N-S shear zone, which extends into the Cinjira area. Significant mineralization intersections from these channel samples include:

  • TW-CH145 – 3.00 metres grading 1.66 g/t Au from 0.00 metres,
  • TW-CH159 – 3.20 metres grading 2.08 g/t Au from 0.00 metres,
  • TW-CH162 – 2.00 metres grading 1.08 g/t Au from 0.00 metres, and
  • TW-CH173 – 11.00 metres grading 1.08 g/t Au from 0.00 metres.

Follow-up work on the Cirindye target will involve auger drilling and detailed geological mapping to generate viable drilling targets.

Regional Exploration
Low key ground maintenance activities at the Twangiza concession focused on the Ntula prospect. During the period under review, field activities involved geological mapping accompanied by channel sampling in exposures and adits. Thirty-two accessible adits totaling 195.5 metres were channel sampled to generate 189 samples. Significant mineralization intersections from these adits include:

  • TW-ADT21 – 3.00 metres grading 2.91 g/t Au from 15.00 metres,
  • TW-ADT23 – 6.00 metres grading 2.18 g/t Au from 11.00 metres,
  • TW-ADT27 – 10.00 metres grading 10.35 g/t Au from 22.80 metres,
  • TW-ADT28 – 4.00 metres grading 1.84 g/t Au from 36.80 metres,
  • TW-ADT29 – 21.00 metres grading 11.30 g/t Au from 11.00 metres,
  • TW-ADT30 – 3.00 metres grading 10.91 g/t Au from 7.00 metres,
  • TW-ADT31 – 4.00 metres grading 5.76 g/t Au from 8.00 metres,
  • TW-ADT31 – 2.00 metres grading 6.13 g/t Au from 22.00 metres,
  • TW-ADT31 – 20.00 metres grading 7.97 g/t Au from 27.00 metres, and
  • TW-ADT32 – 7.00 metres grading 3.11 g/t Au from 5.00 metres.