Ascom reports ‘encouraging indications’ in Ethiopia gold permit

Ascom Geology & Mining, a unit of Egypt’s Citadel Capital, reported 'encouraging indications of gold mineralisation' in its Ethiopian concession, after drilling 17 explotary holes.

“The results of these initial holes have thus far identified at least three potential areas of gold mineralisation along a 1.6-kilometer mineralised zone,’’ the company said in a statement. “However, the mineralised zone requires considerably more drilling to determine its economic potential.”