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Banro Increases Measured and Indicated Mineral Resources at Namoya by 39%

By Insider Scoop
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Courtesy of Benzinga.

Banro Corporation (NYSE: BAA) announces an increase in mineral resource estimates for its wholly-owned Namoya project located on the Twangiza-Namoya gold belt in the Democratic Republic of Congo.

Estimated measured and indicated mineral resources have increased by 39.0% to 1.58 million ounces of gold (24.77 million tonnes grading 1.99 g/t Au with a cut-off grade of 0.4g/t Au), compared with the previous measured and indicated mineral resource estimates of 1.13 million ounces of gold with a cut-off grade 0.4g/t Au (14.58 million tonnes at a grade of 2.43 g/t Au) announced by Banro in its press release dated January 24, 2011 as part of the Namoya Preliminary Assessment.

For more Benzinga, visit Benzinga Professional Service, Value Investor, and Stocks Under $5.

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