Drilling results confirm continued high-grade mineralisation

Algold Resources states that assay results from deeper intersections at its Phase IV 15 000 m drilling campaign are still pending with results expected in the coming weeks

ANALYSIS PENDING Algold Resources states that assay results from deeper intersections at its Phase IV 15 000 m drilling campaign are still pending with results expected in the coming weeks

3rd August 2018


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Exploration and development company Algold Resources – focusing extensively on gold deposits in West Africa – recently announced positive preliminary assay results from its Phase IV 15 000 m drilling campaign, which was carried out on its Tijirit property, in Mauritania.

Algold is developing the Tijirit gold project, which represents an area of more than 750 km2 and comprises the Tijirit exploitation licence of 306 km2 and the Tijirit east exploration licence of 460 km2. The projects are situated 25 km south-east of the Tasiast gold mine. The company is currently carrying out exploration surveys on the Eleonore, Sophie I, Sophie II- III, Lily and Salma gold prospect zones.

Last month, Algold announced that the results from its Phase IV drilling campaign further corroborate the continuity of the mineralised structure, which now extends to a vertical depth of up to 180 m, as well as the high-grade nature of the Eleonore zone.

The results from Eleonore Central further validate the continuity of multiple mineralised structures, the associated gold-bearing quartz veins propagating along regional structures and the associated splays, all of which were previously identified. Latest results also demonstrate that the strike extension of the high-grade gold mineralised structure now extends more than 180 vertical metres.

“The Phase IV drilling programme was designed to upgrade a significant portion of Eleonore inferred resources to the indicated and measured categories,” said Algold exploration executive VP Francois Auclair. “The assay results received to date have not only exceeded our expectations, but should result in the addition of significantly more gold ounces to the project.”

The Phase IV 10 000 m reverse circulation and 5 000 m diamond-drillhole drilling programme was initiated on May 7, 2018, with the objective to convert inferred resources to the indicated and measured categories.

Edited by Mia Breytenbach
Creamer Media Deputy Editor: Features



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