Vancouver – It’s not the easiest country in the world in which to do business but Cassidy Gold (CDY-V) is showing that, if you can get drills turning, there’s gold to be had in Guinea.
At its Kouroussa gold project, 570 km east of the national capital Conakry, Cassidy is following up a November resource estimate with a drill program designed to expand known zones of mineralization and test new prospective areas within Sodyanfe, one of three trends on the project.
Within the Sodyanfe trend, Cassidy is testing whether the Bag Farm and Junction zones, separated by some 300 metres, are actually joined. Results from 18 holes punched into the gap show that mineralization is likely contiguous: hole 1412 hit 7 metres grading 1.36 grams gold per tonne from 6 metres depth, hole 1420 cut 9 metres grading 1.11 grams gold from 31 metres depth, and hole 1426 returned 12 metres grading 0.99 gram gold from 1 metre below surface followed by 6 metres grading 1.25 grams gold from 35 metres depth.
The program is also trying to expand the Junction and Bag Farm deposits. Eleven holes successfully tested down dip extension at Junction: hole 1429 cut 18 metres grading 2.52 grams gold from 57 metres downhole, hole 1430 returned 20 metres also grading 2.52 grams gold from 56 metres depth, and hole 1432 hit 42 metres grading 4.87 grams gold from 55 metres depth. Drilling also identified a sub parallel zone of mineralization 200 metres to the east, where hole 1445 returned 17 metres grading 1.01 grams gold.
Mineralization at Junction is mostly near surface oxide, hosted in fine-grained Birimian sedimentary rocks immediately above a mafic volcanic unit, a lithology typical of West African gold deposits. STakced lenses strike northeast and dip moderately to the southeast.
In another part of the Sodyanfe trend Cassidy is testing a prominent north-trending ridge dubbed the Ridge zone. Results include 3 metres of 4.07 grams gold from 49 metres depth in hole 1454 and 27 metres grading 1.03 grams gold from 24 metres depth in hole 1458.
In November an estimate pegged Kouroussa’s resources at 6.74 million indicated tonnes grading 2.2 grams gold and 8.77 million inferred tonnes grading 1.7 grams gold, for 943,000 oz. contained gold.
Cassidy is currently trading around the 35 mark. The company has a 52-week trading range of 30 to 68 and has 81.2 million shares issued.
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