Canadian gold explorer Banro Corp said it expects 39% higher measured and indicated resources at its Namoya project in the Democratic Republic of Congo.

Estimated measured and indicated mineral resources have increased to 1.58 million ounces of gold, compared with the previous estimate of 1.13 million ounces.

Chief Executive Simon Village said that "We expect these newly defined resources to generate an increase in the life of mine operations and total gold recovered from the Namoya project.”

The project covers an area of 174 square kilometres.

(Sourced from Thomson Reuters)