Infill drilling on the Finkolo gold project in Mali, West Africa, continues to confirm the continuity of the main Tabakoroni zone for owner Etruscan Resources (EET-T).
Highlights from the latest batch of 14 shallow holes include:
- hole 83 — 14 metres grading 67.9 grams gold per tonne, including 2 metres of 465.2 grams;
- hole 70 — 7 metres at 15 grams gold, including 2 metres of 43.3 grams; and
- hole 82 — 5 metres averaging of 16.8 grams gold, including a metre of 73.8 grams.
The 2-metre intercept of 465.2 grams gold in hole 83 represents the highest-grade intercept hit at Tabakoroni. The drilling generally tested the zone at depths from 4 to less than 100 metres. Assay results are pending for another 44 holes.
Etruscan says that drilling has so far confirmed the main zone over a strike length of 1.6 km, with potential to extend to more than 2 km. Hole 77 was collared some 400 metres along strike to the south of the main zone and returned 25 metres running 3.4 grams gold, including 4 metres of 9.3 grams.
Etruscan says the zone exhibits three styles of hypogene mineralisation — Syama style pyrite-dolomite hosted mineralization, mineralization within the main graphite shear zone, and a very high-grade stylolite quartz vein hosted mineralization, which carries abundant visible gold.
Tabakoroni is believed to represent a structural setting similar to that at Australian-based Resolute Mining’s Syama gold deposit, contiguous to the north.
At last count, Syama had proven and probable open-pit reserves totalling 13.7 million tonnes averaging 4 grams gold, for 1.79 million contained ounces. The estimate is based on a cutoff grade of 1.75 grams gold.
In all, measured and indicated resources (including reserves) amount to 41.4 million tonnes running 3.2 grams gold. Another 25.2 million tonnes of inferred resources grade 2.6 grams gold. The estimates employ a 1-gram-gold cutoff.
Resolute can take a half-interest in Finkolo by spending US$2 million by October. It can boost its stake by another 10% by spending another US$1 million or completing a feasibility study over the subsequent 2 years.
Resolute has an 80% interest in Syama; the Malian government holds a free carried 20% interest.
Shares in Etruscan ended 6, or 3.2%, better at $1.95 in Toronto following the news on Jan. 23.
Be the first to comment on "Finkolo yields more high-grade"