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African Gold Ltd (African Gold or the Company) (ASX: A1G) is pleased to present the maiden Mineral Resource Estimate (JORC 2012) on the Didievi Project, Cote d’Ivoire. The Resource is based on the results of drilling completed by African Gold and previous owners of the Project and was prepared by Massa Geoservices.
HIGHLIGHTS
- Shallow, high grade, maiden gold resource on the Blaffo Guetto Prospect at the Didievi Project
- Inferred: 4.93Mt for 452koz of gold at 2.9 g/t (1.0 g/t Au cut off)
- Maiden Inferred Resource is only on the Blaffo Guetto Prospect on the Didievi Project and there are numerous other artisanal gold and geochemical prospects on the Project
- Shallow resource area potentially suitable for an open pit mine
- 2,000m diamond drilling program to commence in August 2024 designed to increase the scale of the resource
- Exceptional drilling results from Blaffo Guetto include:
- 10.0m at 123.0g/t gold from 66m including 2.0m at 613.0g/t gold (DRC334);
- 17.4m at 17.0g/t gold from 244m including 1.0m at 216.0g/t gold (DDD0029) (ends in mineralisation);
- 83.3m at 3.3g/t gold from 166.9m including 18.0m at 12.0g/t gold (DDD01) (ends in mineralisation);
- 80.0m at 3.0g/t gold from 0m including 23.0m at 9.5g/t gold (DDD013);
- 37.0m at 7.7g/t gold from 42m including 24.0m at 11.0g/t gold (DRC208) (ends in mineralisation);
- 27.0m at 4.6g/t gold from 46m including 11.0m at 11.1g/t gold (DRC337) (ends in mineralisation); and
- A broad mineralised halo extending from surface of 231.0m at 1.0g/t gold (DDD044) which included:
- 38.0m at 4.1g/t gold from 165m which is within
- 79.0m at 2.2g/t gold from 152m
- Previously announced Exploration Target* on the Blaffo Guetto and Pranoi Prospects of 6.8Mt – 15Mt at a grade of 2.7g/t Au – 3.0 g/t Au for an Exploration Target 596,000 Oz – 1,450,0000 Oz of gold.
Table 1: Didievi Project Maiden Mineral Resource at 1.0 g/t Au cut-off grade
As a result of the successful rights issue in May 2024 raising approximately $1.29m (before costs), the Company engaged Massa Geoservices to design a drilling program on the Blaffo Guetto Prospect aimed at estimating a maiden resource for the Project. In conducting a detailed review of the Company’s database in order to design the drilling program, Massa Geoservices determined that there had been sufficient prior drilling completed to estimate a maiden inferred resource.
The Company is pleased to advise that the Blaffo Guetto Prospect hosts a maiden inferred resource of 452koz of gold at 2.9 g/t (1.0 g/t Au cut-off).
The maiden inferred resource is an initial resource on the Didievi Project. African is commencing a 2,030m diamond drilling campaign on the Blaffo Guetto prospect in August 2024. The program is designed to infill areas not previously drilled on the Project and to increase the resources to achieve a result within the upper range of the previously announced Didievi Project Exploration Target which includes the Blaffo Guetto and Pranoi prospects.
Notably, the area included within the resource envelope is only at the Blaffo Guetto Prospect on the Didievi Project (see Figure 1). The resource envelope is shallow, 250m – 300m maximum depth, and is regarded as potentially suitable for a future open pit mining operation. The Didievi Project has numerous other high prospects including the Kouassi Prospect, which includes previously released intercepts of 13m at 4.03 g/t Au and 3m at 3.53 g/t Au, and the 11km long Poku Trend which includes a high grade 900m long zone grading 0.15 ppm+ gold.
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This article includes content from African Gold Ltd., licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
June 2024 Quarterly Report
HIGHLIGHTS
Feysville Gold Project – near Kalgoorlie, WA
- A total of 7,807 metres of drilling completed during the Quarter at Feysville, comprised of the following:
- 21-holesfor2,740metresofreversecirculation(RC)drillingatthe Kamperman Prospect.
- 32-holes for 1,673 metres of RC drilling at the Rogan Josh Prospect.
- 120-holes for 3,664 metres of reconnaissance slimline RC drilling.
- A 26-hole/2,808 metre RC program commenced at the Kamperman Prospect during late June (3 holes for 298 metres completed during the Quarter) and was completed during July. Assay results are pending.
- Assay results reported from 15-holes (1,662 metres) of RC drilling completed at the Kamperman Prospect during February 20241.
- Assay results reported from 18-holes (2,172 metres) of RC drilling completed at the Kamperman Prospect during April 20242.
- Assay results reported subsequent to the end of the Quarter from 32-holes (1,673 metres) of RC drilling completed during the Quarter at the Rogan Josh Prospect 3, 4.
- Assay results reported from 120-holes (3,664 metres) of reconnaissance air-core (AC) drilling completed during the Quarter4.
- Following receipt of the Kamperman assay results, a maiden Kamperman and Rogan Josh MRE will be prepared along with an updated MRE for Think Big, scheduled for release in the September Quarter 2024.
Mandilla Gold Project – near Kalgoorlie, WA
- Planning for a 14,000 metre in-fill RC drilling program aimed at upgrading the Inferred Resources within the Stage 1 and Stage 2 Theia open pits has been completed. Drilling is scheduled to commence during August 2024.
Corporate
- Cash of approximately $5.77 million as at 30 June 2024.
- Placement of 140 million shares at $0.05 per share to raise $7 million (before costs) completed. Additionally, Company Directors subscribed for 2.1 million shares at $0.05 per share, approved at a general meeting held 20 May 2024.
Figure 1 –Location map identifying Company projects.
MANDILLA GOLD PROJECT
The Mandilla Gold Project (Mandilla) is situated in the northern Widgiemooltha greenstone belt, approximately 70 kilometres south of the significant mining centre of Kalgoorlie, Western Australia (Figure 1).
The area hosts world-class deposits such as the Golden Mile Super Pit in Kalgoorlie owned by Northern Star Resources Limited (ASX:NST) and the St Ives Gold Mine south of Kambalda owned by Gold Fields Limited, as well as the substantial Beta Hunt Gold Mine owned by Karora Resources Inc. (TSX:KRR).
Mandilla is covered by existing Mining Leases which are not subject to any third-party royalties other than the standard WA Government gold royalty.
The Mandilla Gold Project includes the Theia, Iris, Eos and Hestia deposits.
Gold mineralisation at Theia and Iris is comprised of structurally controlled quartz vein arrays and hydrothermal alteration close to the western margin of the Emu Rocks Granite and locally in contact with sediments of the Spargoville Group.
Significant NW to WNW-trending structures along the western flank of the project are interpreted from aeromagnetic data to cut through the granitic intrusion. These structures are considered important in localising gold mineralisation at Theia, which has a mineralised footprint extending over a strike length of more than 1.6km.
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This article includes content from Astral Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
