JOHANNESBURG (miningweekly.com) - Australian gold miner Aforo Resources has signed a joint venture option agreement for two gold projects in Burkina Faso, including Nordgold's Niare gold project where a non-Joint Ore Reserves Committee-compliant gold resource of 98 000 oz at 1.36 g/t gold has been defined.
Minor shareholder Stratex CEO Dr Bob Foster said the focus on Burkina Faso was welcomed, as the country was regarded as highly prospective. "[It] still offers excellent opportunities for major discoveries," he noted.
Stratex holds 7.84% in Aforo.
Following a field visit in August 2017, Aforo deemed there to be the potential for a significant deposit at Niare and was currently seeking to obtain historical data to confirm the existing resource estimate and to identify next steps needed to possibly expand on this resource.
The second project, Sao, was largely unexplored but was located within the highly prospective Houndé greenstone belt in the western part of the country, which hosts a number of multimillion-ounce gold deposits and producing mines, including Semafo's 5.75-million-ounce Mana mine producing 240 000 oz/y.
Aforo is reviewing further acquisition opportunities in Burkina Faso to consolidate its position in the country.