Friday, 14th December 2007 (1988 views)

Gold development and exploration company Moto Goldmines has announced the results of a study which prove the feasibility of a 400,000-ounce-per-year gold mine in the Democratic Republic of Congo, it has emerged.

According to the company, the study demonstrates the long life and sound fundamentals of the proposed mining project, which is expected to have a life of around eight and a half years.

Work on developing the feasibility study has been underway in the 15 months prior to November 2007, with resources spent on technical design, evaluation work and resource definition on the project.

According to the company, the mine could have a total gold production of 3.3 million ounces over its proposed lifespan.

Moto Goldmines has also brought forward a proposal for a long-term exploration plan on the Congolese site, which will include the expansion of planned open pit mining areas and high-grade underground exploration.

The Moto gold project is situated in the north-east region of the African country.

 

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