A mining company based in the United Kingdom but mining in Western Kenya has discovered an estimated resource of 1.31 million ounces of gold at its mines in the Liranda Corridor in Kakamega.
The gold, which was discovered by Acacia Mining, is estimated to be worth around Sh. 171 billion according to Mining Cabinet Secretary Dan Kazungu.
Its grade has been billed as one of the highest in Africa.the firm said the discovered 1.31 million ounces of gold have a grade of 12.1 grammes per tonne
“This is one of the highest grade projects in Africa today, and we believe that this initial resource is a first step in the delineation of a multi-million ounce high-grade corridor,” said Brad Gordon, the firm’s CEO, in a statement.
Nonetheless, following the discovery, Acacia announced that it will spread its resource area to try and get more gold of up to 2 million ounces.
Acacia further said it plans to spend Sh1.2 billion ($12 million) this year on exploration on the West Kenya project. The majority of this money will be spent on a 45,000-metre drilling programme on the Liranda Corridor. Over four years, the company has spent Sh3.1 billion ($29.5 million) in the Western Kenya mines.
