Name of the Project
Segele gold project.

Location
Ethiopia.

Project Owner/s
Scandinavian gold exploration and mining company Akobo Minerals.

Project Description
Akobo Minerals’ Segele mine has an inferred and indicated mineral resource of 68 000 oz, yielding a world-class gold grade of 22.7 g/t.

Akobo has been focusing on the comprehensive development of the Eastern winze deposit, which is crucial for facilitating future production. The primary emphasis has been on the development of the prospect drive, which will connect the Eastern and Western winzes.

By concentrating on this drive, the company aims to establish a solid foundation for more effective operations. The strategic positioning of the Eastern winze at a lower elevation further assists in efficient stoping operation, ensuring optimal conditions for future ore extraction.

The crosscut between the two winzes will increase ore extraction rates; facilitate the startup of stoping; increase safety, as there will be two exits from the mine; and support efficient ventilation.

The deposits will be accessed using an inclined shaft from the surface and will be mined using shrinkage stoping, post room-and-pillar, and narrow-vein stull mining or cut-and-fill, depending on the dip and orientation of the orebody.

Potential Job Creation
None stated.

Net Present Value/Internal Rate of Return
None stated.

Capital Expenditure
Total capital expenditure for establishing the mine plant is estimated at $8-million.

Planned Start/End Date
The processing plant was commissioned in July 2024.

Latest Developments
Akobo Minerals has produced the first gold bar from its Segele mine.

The company says this significant milestone marks the beginning of gold production as it progresses with its operational plans.

The 1.4 kg gold bar was smelted from about 170 t of lower-grade material collected and processed from development tunnels, located on the edge of the Segele orebody. This initial batch yielded an average grade of 8 g/t.

While the results are very promising, the company has said that it is too early to provide a definitive recovery rate or the gold purity grade, as the process is still in its early stages. Akobo expects mining higher-grade ore once stoping activities start.

The tailings generated from this initial processing phase will be stored and later reprocessed through carbon-in-leach tanks once these are fully operational.

The company has said this additional step will allow for it to maximise recovery and ensure maximum extraction of gold from its mineral resources.

“Next, we will continue blasting and stockpiling material from the Segele mine, followed by further production batches. As production progresses, we expect both an increase in the gold content from the mine and improved recovery rates from the processing plant,” Akobo has said.

Key Contracts, Suppliers and Consultants
Peacocke and Simpson (metallurgical testwork); IW Mining (mining contractor); and Solo Resources (processing plant).

Contact Details for Project Information
Akobo Minerals, tel +47 92 80 40 14 or email info@akobominerals.com.