Nyota Minerals continuing discussions with Ethiopian MoM

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Addis Ababa, 4 September 2014 (WIC) -Nyota Minerals Ltd Wednesday said it has recently submitted renewal applications for both of its Northern Block licenses, and added that technical reports for the license and field work for the year just ended are being prepared.

In addition, the company said it is continuing discussions with the Ethiopian Ministry for Mines (MoM) over the potential for its Towchester subsidiary to mine and treat the alluvial river gravel deposits adjacent to the Abay River, or Blue Nile, that bisects the Northern Block licenses.

According to Nyota, the gravels are known to be gold-bearing and are being hand dug and panned for gold by local people at a number of localities within the licenses.

Alluvial gold deposits in Ethiopia are usually reserved for exploitation by artisanal miners. (Alliance News)