This work was carried out to provide fresh core for metallurgical testing and geotechnical samples that are needed to support the processing and open pit designs for mining of oxide and transition mineral resources.
A total of 12, 50 metre to 160-metre-deep holes totaling 905 metres, were completed over the Barani East (five holes), Gourbassi West (four holes) and Gourbassi West North (3 holes) zones. The Barani East and Gourbassi West zones contain, oxide and transition measured and indicated mineral resources of 131,000 ounces of gold grading 1.41 g/t Au and inferred mineral resources of 55,000 ounces of gold grading 1.22 g/t Au. A resource estimate will be prepared for the 1.6 km-long Gourbassi West North zone. An image of recent core from the mineralized zone at Gourbassi West North is presented in Image 1. Oxide and transition resources at all three zones will be part of the PEA, which is currently in progress.
With the completion of the PEA portion of the drill program, the drill has now commenced drilling of the first of four exploration holes at the Mogoyafara South and Frikidi Zones.
The Mogoyafara South target contains open pit constrained inferred mineral resources 412,800 ounces of gold grading 1.05 g/t Au making it the largest known gold deposit on the
The Frikidi gold target returned 61 rock samples containing more than 5 g/t Au, five of which returned 100 g/t Au or greater. Frikidi represents an area of numerous artisanal mine workings within a 5 km by 2.5 km, cross-cutting, magnetic anomaly.
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This news release contains forward-looking statements respecting the Company's ability to successfully complete the Offering. These forward-looking statements entail various risks and uncertainties that could cause actual results to differ materially from those reflected in these forward-looking statements. Such statements are based on current expectations, are subject to a number of uncertainties and risks, and actual results may differ materially from those contained in such statements, including the inability of the Company to successfully complete the Offering. These uncertainties and risks include, but are not limited to, the strength of the capital markets, the price of gold; operational, funding, and liquidity risks; the degree to which mineral resource estimates are reflective of actual mineral resources and the degree to which factors which would make a mineral deposit commercially viable are present; the risks and hazards associated with mining operations. Risks and uncertainties about the Company's business are more fully discussed in the company's disclosure materials filed with the securities regulatory authorities in
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