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  • Amani Gold has successfully raised $3 million in a new placement
  • The placement funds will facilitate the development of its highly prospective Giro Gold Project in DRC
  • Amani Gold is set to purchase a combined RC/diamond core rig to efficiently carry out 2019 drilling programs
  • The company also acquires exploration permits on Gada Gold Project

Amani Gold Limited has announced it has successfully raised $3 million through the issue of 1.523 billion fully paid ordinary shares at $0.002 per share. The Placement is being undertaken by Hartleys Limited as Broker to the Offer.

Amani Gold will use the funds raised to accelerate diamond and auger scout drilling programs at its flagship Giro Gold Project in the Democratic Republic of the Congo. Within the Giro Gold Project are the Kebigada and Douze Match deposits which have proven to be highly prospective.

Giro Gold now exceeds 3Moz gold with the combined Indicated and Inferred Mineral Resource estimate for the Kebigada and Douze Match deposits at 81.77Mt @ 1.2g/t Au, for 3.14Moz Au.

Th year, Amani Gold will be testing for deeper high-grade mineralisation and complete infill drilling at Kebigada. North of the Douze Match deposit, the Company will conduct reconnaissance drilling using a combination of diamond core drilling and RC drilling.

Amani Gold will potentially purchase a combined RC/diamond core rig in hopes of significantly reducing drill costs. Drilling is expected to commence in June 2019.

Amani Gold has its sights set on adding the Gada Gold project to its portfolio. Just two days ago the Company acquired 10 highly prospective Exploration Permits at the Gala Gold Project, through an 85.7 per cent interest in BN Mining. The Company is confident in the acquisition of this package providing large gold mineralisation.

“We know the geology, mineralisation and have proven at Giro, that we know how to explore and discover gold deposits in this part of the DRC. The acquisition of this package would see Amani as one of the major gold tenement holders in DRC in a proven gold producing region nearby to the 600,000oz per annum gold mine at Kibali,” Amani Gold Chairman, Klaus Eckhof said.

Amani Gold anticipated the Placement will be complete by the end of May 2019.

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