Akobo Minerals, a Scandinavian-based Ethiopian gold exploration and boutique mining company, has announced the discovery of an underground gold ore body at the Segele mine in the Gambella region. This marks the culmination of a 13-year exploration endeavor.
According to sources, the Segele mine, located in the Dima district of the Anuak zone within the Gambella region, boasts one of the world's highest concentrations of gold resources. The ore has an average gold grade of 22.7 grams per ton, resulting in significantly economical operational expenses. This is particularly noteworthy given the current gold price, which is nearing $2,000/oz.
Jørgen Evjen, CEO of Akobo Minerals, emphasized the importance of this milestone, stating, "After first encountering the mineralization in early 2020 and now finally making this unique underground discovery, it is a significant moment for our organization and all our supporters out there."
The company is now ready to begin production from the pilot plant, with the commissioning of the main plant scheduled to start as soon as a substantial amount of gold-bearing material is extracted from the mine.
In March, Akobo Minerals had announced the interception of visible gold at a depth of 282 meters, along with indications of potential gold mineralization in various sections along the lines.
Source: INTELLINEWS