– UK – Alecto Minerals plc (AIM: ALO), the AIM quoted mineral exploration company focussed on West and East Africa, is pleased to announce that Dominic Doherty, currently Alecto’s Operations Manager, has been appointed to the Board as Operations Director with immediate effect. In tandem with this, Mike Ware, the Company’s part time Executive Director, will step down from the Board also with immediate effect, however he will continue to advise the Company as a consultant. Dominic is based full time at the Company’s operational headquarters in West Africa and these Board changes are in line with the Company’s strategy to strengthen its operational capabilities as it focusses on advancing its African gold and base metal portfolio.
Dominic has an in depth knowledge of the Company’s Malian projects having managed their development for the past four years. Importantly, he has worked for many years in West Africa through his position as a Captain in the British Army, which enabled him to forge strong relationships with industry participants and authorities. Previous to his role in developing the Kossanto Gold Project, Dominic was one of the founding partners of Roc Resources (Mali) Sarl which saw him develop and manage an alluvial gold opportunity in Mali. Dominic was also Head of Business Development for the Government of Dubai and took a leading role interfacing with African Producers for the UAE Government’s “Masterplan for Diamonds” and enabling the Kimberley Process in Africa and the Middle East.
Mark Jones, CEO of Alecto, commented: “I am delighted to welcome Dominic to the Board as a full time executive. The JORC compliant resource estimate at our Kossanto Gold Project has been increased by 131% since we acquired it approximately nine months ago, and part of this success can be accredited to Dominic who has used his knowledge of the assets, gained over the last four years, to build value for shareholders. His appointment is timely, particularly as we start to move Alecto down the development path. The coming months will be focussed on developing a new exploration programme ahead of the recommencement of work in Q4 2014 and I look forward to working more closely with him on this. Additionally, I would like to take this opportunity to thank Mike Ware for his support and excellent technical skills that the board have utilised and look forward to continuing our working relationship through his role as a Consultant to the Company.”
About Alecto Minerals plc
Alecto Minerals plc is an African focussed, gold and base metal exploration company quoted on AIM.
The on-going development of the Kossanto Project in Mali is the Company’s predominant focus and with significant value upside potential evident across the tenure, the Board plans to build on the existing independent inferred resource estimate of 247,000 oz Au for Gourbassi reported in accordance with the guidelines of the JORC Code (2012).
The Kossanto Project is located in the centre of the Kenieba inlier in western Mali. The Kenieba inlier is a block of ancient greenstones and granites hosting many significant gold deposits in Senegal and Mali, making it one of the most important gold regions in Africa. The 207 sq. km. Kossanto Project currently comprises the Gourbassi and Massakama target areas located in the west of the licence area, where large-scale artisanal activity is occurring.
Alecto also has a joint venture with Centamin plc over two prospective gold exploration licences in Ethiopia, under which Alecto retains exposure to such assets with no capital expenditure obligations, as well as the wholly owned Wad Amour IOCG Project in Mauritania which is at an exploration stage. Combined, these projects provide the Company with a strong, diversified portfolio with exciting exploration upside potential.
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