Canadian gold producer IAMGOLD has completed 4 167 m of a planned 5 000 m programme of shallow aircore (AC) drilling at the Madina Bafé prospect as part of its second-year commitment at Aim-listed Oriole Resources’ 85%-owned Dalafin gold project, in Senegal.
IAMGOLD has the option to spend up to $8-million to earn a 70% interest in Dalafin.
Results include a best grade of 235 parts per billion gold and have outlined multiple new anomalies in the south of the prospect, as well as in a new area several kilometres to the north, Oriole reported on Monday.
The $1-million second-year work programme has stopped for the wet season and will resume in October.
“We are very pleased to see the excellent progress to date at Madina Bafé and look forward to the programme recommencing here and at Saroudia after the rains,” Oriole CEO Tim Livesey said.
He indicated that the identification of yet more gold targets had expanded the company’s area of interest in the south of Madina Bafé to a substantial 16 km2.
“The identification of a further 2-km-long anomaly several kilometres north of this, leaves us convinced of the more prospective nature of our Dalafin licence within this highly endowed geological terrane.
"We are confident that follow-on reverse circulation drilling will provide further definition of these targets at Madina Bafé, and that more anomalism will be identified as the programme extends to the Saroudia area,” he added.