JOHANNESBURG (miningweekly.com) – Four diamond drill rigs have been mobilised to dual-listed Avesoro Resources’ wholly owned New Liberty mine, in Liberia, where a 14 000 m diamond core drilling campaign has started.
The campaign is targeting an area of the New Liberty resource model containing an inferred mineral resource of some 3.5-million tonnes with a mean grade of 2.8 g/t gold and containing 315 000 oz of gold.
The programme is aimed at increasing confidence in the continuity of the orebody and upgrading the classification of a proportion of the inferred material to an indicated mineral resource, and thereby increasing the tonnage of mineralisation that can be converted to a mineral reserve and including it in the economic model as required by National Instrument 43-101.
It is anticipated that this drilling programme will be completed during the first quarter of 2018, at which time the company will start work on an updated mineral resource and reserve statement.
The drilling programme contract has been entered into between the company’s wholly owned subsidiary Bea Mountain Mining Corporation and Zwedru Mining, a related party to the company. The drilling contract has a value of $1-million, which will be paid in cash, with a drilling cost of between $59/m and $69/m.