Gokona Underground Gold Mine, Tanzania

Acaia Mining has approved the definitive feasibility study on the development at the Gokona pit, at North Mara in Tanzania. The DFS confirms an attractive return for the company at current reserve pricing. The mine will have two major declines within the mine plan. One portal will access the Eastern material with a second portal accessing mineralisation at the western end of the pit. The eastern decline is being development as an exploration portal.The underground project is expected to produce 450 000 oz over a five-year-life-of-mine. The project will require total pre-production capital expenditure of $37million. including the cost of the exploration decline.