Avesoro Resources Inc. reported the final assay results from its 55 hole New Liberty infill drilling programme, stating that the 19,500 metre programme was completed in Q1 2018.
Avesoro Resources Inc. (TSX:ASO) reported the final assay results from its 55 hole New Liberty infill drilling programme, stating that the 19,500 metre programme was completed in Q1 2018 and is designed to upgrade a proportion of 275, 000 ounces of existing inferred mineral resource which sits below the current designed pit floor but within a US$1300 per ounce pit shell. It forms part of the company’s wider 2018 exploration programme which has the objective of converting approximately 1 million ounces of mineral resources into mineral reserves across the company’s portfolio of assets.
Highlights are as follows:
- Management has set a 2018 target of converting 1 million ounces of existing mineral resources into reserves across the Avesoro portfolio (including New Liberty)
- New Liberty infill drilling completed and assay results now received
- Intercepts show mineralisation grade and thickness in-line with the existing 275,000 ounces inferred resources block model
Latest results include:
- K544 3 meters at 11.8g/t gold from 253 meters
- K544 2 meters at 4.69g/t gold from 274 meters
- K545 9 meters at 3.96g/t gold from 273 meters
- K546 9 meters at 2.67g/t gold from 293 meters
Serhan Umurhan, CEO, commented:
I am pleased to report the completion of our infill drilling programme at New Liberty where we have encountered further excellent drill results. This is further proof of the Company’s continued positive momentum towards our aim of converting 1 million ounces of resources into reserves across our portfolio from the company’s 2018 drilling campaign.
I look forward to updating the market in Q3 2018 with an increased resource and reserve estimate at New Liberty resulting from the infill drilling programme. I expect this to have a significant positive effect on the mine life and create further shareholder value.
We also expect to be able to release positive updated resource and reserve estimates later this quarter for the Youga and Balogo gold mines, reflecting the progress made during 2017 to extend the mine lives at both assets in Burkina Faso.