Banro's second gold mine, Namoya, is scheduled to begin commercial production in 2H 2015

Namoya Mine

Banro's Namoya (oxide and free-milling) mine is currently ramping-up to full commercial production, which is expected to begin shortly. At full capacity, the Namoya mine, a hybrid heap leach – CIL plant, is expected to produce 9,000 to 10,000 ounces of gold per month.

Namoya has a Proven & Probable mineral reserve of 20.53 million tonnes grading 1.92g/t Au containing 1.27 million ounces of gold. Measured and Indicated resources at Namoya are 28.73 million tonnes grading 1.88 g/t Au containing 1.74 million ounces of gold plus an Inferred resource of 6.35 million tonnes grading 1.63g/t Au containing 332,184 ounces of gold. The updated resource calculation used a cut-off grade of 0.4 g/t Au.

The Namoya property lies at the southern end of the Twangiza-Namoya gold belt in Maniema province, approximately 210 kilometers southwest of Twangiza and consists of one PE covering an area of 174 square kilometres.

The most recent technical report with respect to the Namoya Property that has been filed by Banro on SEDAR is dated December 31, 2013 and entitled "Independent National Instrument 43-101 Technical Report on the Namoya Gold Project, Maniema Province, Democratic Republic of the Congo". The work carried out and reported in the Technical Report is at a Feasibility Study level, as per the requirements of NI 43-101. A copy of this report may be accessed at


Alluvial deposits of gold were first discovered at Namoya in 1930 and mined between 1931 and 1947. Primary gold was also discovered during this period and underground mining commenced on the Filon 'B' deposit in 1947. Further discoveries of primary gold mineralization were made at Mwendamboko, Kakula and Muviringu, where selective mining was carried out. The majority of this mining was based on small-scale underground development along specific mineralized quartz veins or stockwork zones. During the 1950s a small open pit was established on Mt. Mwendamboko.

Mining ceased in 1961, although there remained substantial un-mined resources in the various deposits plus several other untested mineralized targets. Limited regional and strike exploration appears to have been conducted since 1961. Total historical production at Namoya has been estimated at 278,000 ounces of gold.


The mineralization at Namoya is structurally controlled by a 2.5 km, NW-SE trending shear zone within sericite schists, which hosts a series of quartz 'stockwork' deposits. The auriferous vein systems outcrop at the summits of Mt. Mwendamboko, Mt. Namoya, Mt. Kakula, and Mt. Muviringu. Mineralized 'stockwork' outcrops have also been located on eight other hills in the general area.