PERTH (miningweekly.com) – The share price of ASX-listed explorer Vital Metals increased by nearly 13% on Thursday, after the company reported visible gold at its Bella Tondi prospect, at the Bouli gold project in Niger.
MD Mark Strizek told shareholders that visible gold was delivered from one of the drill holes at the Bella Tondi prospect.
“Three diamond tail holes out of an eight-hole programme have now been completed. The holes were designed to test for continuity of high-grade gold mineralisation down to a vertical depth of 150 m. The first three holes have been logged, cut and sampled, with the samples shipped to Ouagadougou for assay.”
The results from the initial assay work were expected in the second half of June, pending assay laboratory capacity. The results from the remaining holes are expected four to eight weeks after.
Vital in early May reached an agreement with fellow-listed Tungsten Mining to divest of its Watershed tungsten project, in Queensland, for A$15-million in cash. The company said that the move would allow Vital to focus on its aggressive exploration programme in West Africa.
Vital shares were trading at a high of 1c a share on Thursday, up from a low of 0.9c a share.