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alecto minerals plc (OKV7) Snapshot

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05/23/14 - €0.02
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05/16/14 - €0.0010
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alecto minerals plc (OKV7) Details

Alecto Minerals plc, together with its subsidiaries, explores for and develops precious and base metals in the United Kingdom, Mauritania, Ethiopia, and Mali. It holds interests in the Kossanto gold project that consists of 4 contiguous licences covering 207 square kilometers located in the centre of the Kenieba inlier in western Mali; Kerboulé gold project that covers 399.5 square kilometers located in northern Burkina Faso; the Karan gold project covering 250 square kilometers located in southern Mali; the Wad Amour project, which covers 1,369 square kilometers in Mauritania; Wayu Boda project that covers 945 square kilometers located in south-west Ethiopia; and the Aysid-Metekel gold project covering an area of 1,954 square kilometers in north-west Ethiopia. The company was formerly known as Alecto Energy plc and changed its name to Alecto Minerals Plc on May 2011. Alecto Minerals Plc was incorporated in 2004 and is headquartered in London, the United Kingdom.

5 Employees
Last Reported Date: 05/30/14
Founded in 2004

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alecto minerals plc (OKV7) Key Developments

Alecto Minerals plc Announces Completion of Analysis of Historic Drilling Results at Kerboulé Gold Project, Burkina Faso

Alecto Minerals plc provided an update on the 399.5 sq. km. Kerboulé Gold Project located in the highly prospective Birrimian-age Djibo gold belt in northern Burkina Faso, following the successful completion of a detailed internal analysis of historical drilling data. Highlights: Completion of detailed internal analysis of data from historical drilling at the Kerboulé Project across the two permits; Analysis has identified three discrete deposits with sufficient drilling density to estimate contained resource ounces; Numerous vein sets and orientations identified in drill core that the Board believes could add significant value to future drilling campaigns; Increased understanding of the structures and mineralisation controls. The company is on track to achieve a maiden resource estimate for the Kerboulé Project in 2015 and thereby increasing the company's existing gold inventory. The Kerboulé Project comprises two contiguous exploration permits (Arae and Gassel-Manere) in northern Burkina Faso. The permits cover a landmass of 399.5 sq. km. across the highly prospective Birrimian-age Djibo gold belt and are cross-cut by two known mineralised trends (the Inata and the Souma Trends). Historically, geochemical surveys have been completed across the permits in the form of soil, termite and auger grids, with drilling concentrated over the Kerboulé-Yalema Corridor. The company's focus, whilst also identifying further regional targets, is the KYC, which contains significant mineralisation that has already been discovered from historic drilling within the permits and which the Board believes will provide the basis of a maiden JORC-code compliant resource estimate for the Kerboulé Project in 2015.

Alecto Minerals plc Completes Acquisition of the Kerboule Gold Project

Alecto Minerals plc announced the completion of the acquisition of 100% of Gazelle Resources Incorporated ('Gazelle'), which wholly owns the 399.5 sq. km. Kerboule Gold Project ('Kerboule' or 'the Project') located in the highly prospective Birrimian-age Djibo gold belt in northern Burkina Faso ('the Acquisition').

Mark Wellesley-Wood to Join Alecto Minerals plc as Non-Executive Chairman

Alecto Minerals plc announced that Mark Wellesley-Wood, who has enjoyed an extensive career in the City gaining over 40 years' experience in both the mining and investment banking sectors, will be joining the Board as Non-Executive Chairman with immediate effect. Mark is replacing Michael Johnson who is stepping down from the Board to pursue other business interests. Mark is a mining engineer and Fellow of the Institute of Materials, Minerals and Mining. Until recently he was a director within corporate finance of Investec Investment Banking and Securities in London, prior to which he was Head of Corporate Finance at Ambrian Partners.


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