Burey Gold expands in Kilo-Moto greenstone belt

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Mining company Burey Gold inked an agreement with Emirati firm Medidoc FZE to buy a 60% onterest in Tendao project which comprises five exploration licences covering a total of 1,456 km², in North-Western part of DR Congo. The deal will help the firm reinforce its presence (more than 2,000 km²) in the Kilo-Moto greenstone belt where it already operates the Giro project.

President of Burey, Klaus Eckhof mentioned the favorable mining environment in which the project will be as the belt hosts major gold projects including 16 million ounces project Kibali which is held by Randgold Resources and AngloGold Ashanti.

“In view of the extensive historical workings and the contiguous nature of the Tendao project area, Burey has had the project in its sights for some time and finally an opportunity has presented itself. Burey’s team is very excited about the opportunity and due diligence investigations will start immediately,” Eckhoff says.

It should be recalled that last July, the firm raised $11.6 million to accelerate exploration at Giro.

The Giro gold project is situated 30km from world-class gold mine Kibali which produced in 2015, 642,720 oz.

(Source: ECOFIN)