British colour gemstone miner Gemfields Group Limited announced a new gold discovery at its 75%-owned Nairoto Gold Project in northern Mozambique. The latest exploration revealed 1.58 million tonnes of rock containing gold, with an average gold content of 2.02 grams per tonne, totalling 103,000 ounces of gold.
The exploration covered only less than 0.1 sq km of the project’s 1,957 sq km area, indicating further potential for gold. Kartikeya Parikshya, Managing Director for Mozambique at Gemfields, said the results are promising and they plan to continue exploring to find even more gold. However, Gemfields does not plan to focus on gold mining long term and will instead look for a buyer or partner for the project.