https://www.miningweekly.com
Gold|PROJECT|Resources|Drilling
Gold|PROJECT|Resources|Drilling
gold|project|resources|drilling

IAMGOLD is nearing its 70% interest after six years of investment in Senala project

29th September 2022

By: Marleny Arnoldi

Deputy Editor Online

     

Font size: - +

Aim-listed Oriole Resources has announced its joint venture partner IAMGOLD Corporation is in the penultimate year of a six-year option agreement to earn a 70% interest in the Senala project, in Senegal.

IAMGOLD earns this interest by spending up to $8-million on the project.

As of September 29, IAMGOLD has spent $6.50-million on the project, and is currently formalising its 51% interest in Senala, as part of the first option on the project.

In terms of the second option, IAMGOLD has completed a 10 695 m auger drilling programme, for 1 307 holes, at the Faré prospect, amounting to a spend of $4-million by February 28, 2024.

Holes were drilled to an average depth of 8 m, with up to three samples collected per hole to assess the underlying geology and identify potential extensional gold anomalism.

IAMGOLD’s gold assays for 2 551 samples have identified multiple structurally controlled gold anomalies outside of the previously identified footprint at Faré.

Most of these newly identified anomalies follow the same north-easterly trend as the existing Faré North, Faré South and Faré Far South prospects.

All anomalous trends have been reviewed and prioritised for further work, Oriole confirms, adding that the results again indicate the potential for the Faré area to host a standalone resource.

“This portion of the Senala licence continues to show robust value add, with capacity to easily expand the existing maiden resource by a programme of infill drilling on the existing Faré North, Faré South and Faré Far South targets,” says Oriole CEO Tim Livesey.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Latest News

The integration of Alamos' Island Gold mine (pictured) and Argonaut's Magino mine will create synergies of $515-million.
Alamos buys rival Argonaut
27th March 2024 By: Mariaan Webb
Ironveld smelter
Ironveld ramp-up slower than expected
28th March 2024 By: Darren Parker

Showroom

Actom image
Actom

Your one-stop global energy-solution partner

VISIT SHOWROOM 
SMS group
SMS group

At SMS group, we have made it our mission to create a carbon-neutral and sustainable metals industry.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Hyphen, Eva mine, ferrochrome price make headlines
Hyphen, Eva mine, ferrochrome price make headlines
27th March 2024
Resources Watch
Resources Watch
27th March 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.109 0.147s - 90pq - 2rq
Subscribe Now