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Marengo looking to boost Yandera project

Staff Reporter | 7:19 PM | |
A POSITIVE outlook is expected for the thriving Marengo Mining Limited as it took on the New Year with specified works outlined to improve the economic viability of the Yandera Project.

Chief executive officer (CEO) Pieter Britz said in a statement issued last Friday that this year the work program will continue to analyse geologic evidence from previous works, plan new field programs, identify prospective areas for high-grade mineralisation and develop more drill targets.

Supporting this, the company has also provided skills development training for its members of staff starting last year which will continue this year.

The training is aimed at equipping the geology and environmental staff with highly developed tools to analyse, model, interpret and assess complex geology and mineralisation at the Yandera Project.

The company has also started a drilling program at the newly established Rima exploration site.

According to the statement the core from the four drill holes has been sent to be assayed with final results due this month.

Moreover, the company expects to use funds from its debenture transactions under the newly signed Debenture Agreement for the development of the Yandera Project, continuing exploration works and drilling programs, for funding capital requirements and general corporate purposes.

At Quarter end, the Company had available cash and term deposits of approximately US$8.9m or over K22 million. Post Courier