Algold Intercepts 39.85 g/t Au Over 6 Meters at Tijirit's Eleonore Zone

MONTREAL, Sept. 14, 2016  /PRNewswire/ – Algold Resources Ltd. (TSXV:ALG) today announced more results from its Phase I 10,000-meter drilling campaign carried out on the Corporation’s Tijirit property (“Tijirit”) in Mauritania. New results continue to validate the potential of a significant 3.1-kilometer strike gold zone and indicate that the northern part of the Eleonore Zone appears to hold a very rich gold system dominated by at least one major quartz vein hosting significant visible gold, which remains open in all directions.

Highlights

• Hole T16RC071 – 6 m @ 39.85 g/t Au, including 2 m @ 112 g/t Au, is situated in the northern area of Eleonore, 100 m NNE and on strike of hole T16RC024 (6 m @ 4.23 g/t Au – referenced in Algold’s press release dated August 16, 2016). (Figure 1)
• Hole T16RC069 – 3 m @ 2.03 g/t Au is located under T16RC024 (6 m @ 4.23 g/t Au) indicating a possible “pinch and swell” of the vein.
• Hole T16RC072, situated between hole T16RC024 and T16RC070, intersected two zones of gold mineralization, 4 m @ 1.35 g/t Au and 2 m @ 1.94 g/t Au, thus further indicating at least two vein systems.
• Discovery hole T16RC083, intersected 2 m @ 5.47 g/t Au 10 km south of Lily, in a new area hosting an outcropping quartz vein with visible gold.

This round of drilling identified three coherent gold zones in which a minimum of two to three gold bearing quartz veins have been developed in an “en echelon-type structure” between two major structural features identified from satellite imagery. All three sectors of the Eleonore gold zone are still open in all directions, with extensions currently being drill tested. Algold is now in receipt of approximately 80% of the outstanding assay results from its Phase I drilling program.

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