Nyota Minerals said the inferred JORC resource at its Tulu Kapi gold project in Ethiopia had increased from 0.69m ounces to 1.380m ounces.

Doubling of the maiden resource represented a 38% increase on the company's previously stated objective of a 1 Moz resource target and was essentially based on the intersection of two specific areas of mineralisation known as Lodes 1 and 2.

In June, Nyota announced that a new high -grade structure (Lode 3) had been discovered beneath the current inferred resource that intersected 8.7 metres averaging 8.9 grams per tonne of gold.

Surveys conducted over the main Tulu Kapi deposit and surrounding area had revealed new extensions to the deposit and generated additional drill targets.

During the June quarter, positive drill results were received in relation to 22 further infill and expansion RC holes, indicating the presence of additional mineralisation.

A fourth drill rig was mobilised to the site and drilling commenced.

Subsequent to the quarter end, independent consultants SRK were appointed to prepare a preliminary economic assessment for the project.







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