British exploration firm, Acacia Mining, has discovered gold deposits estimated at a value of $1.6 Billion in Kakamega County, boosting Kenya’s rising profile as a mining economy.
The estimated deposits of about 1.31 million ounces of gold, at 12.1 grammes per tonne, could be one of the exploration firm’s highest grade projects in Africa if proved to be commercially viable.
The London-listed company said exploration activities are ongoing to determine the commercial viability of the deposits.
Acacia Mining Exploration Manager, Tim Sharp, said it will take up to three years to complete the drilling.
The firm, which has been operating in Tanzania, Burkina Faso and Mali hopes to make more discoveries.