Reverse-circulation drilling by partners
The two sank a total of 158 RC holes, equivalent to 5,400 metres. The holes targeted most of the West zone area over a 700-metre strike length and outlined a mineralized corridor measuring 400 metres long and 50 metres wide, and averaging 20 metres in thickness.
Selected intersections include the following:
– Hole 779 — 8 metres grading 2.3 grams gold per tonne (uncut);
– Hole 780 — 6 metres of 9.7 grams gold;
– Hole 813 — 16 metres of 3.4 grams gold;
– Hole 815 — 10 metres of 30.5 grams gold;
– Hole 824 — 4 metres of 13.4 grams gold;
– Hole 831 — 9 metres of 11.3 grams gold;
– Hole 870 — 14 metres of 2.1 grams gold.
The zone comprises mostly weathered rock with quartz veining and is associated with a metamorphosed gabbroic rock extending for several hundred metres outside the drill grid area. It remains open to the west and at depth.
A follow-up campaign of RC drilling will follow immediately. Drilling will also test other targets defined by geophysical and geochemical surveying.
The West zone is 3 km from the East zone, which is the subject of a feasibility study. The partners expect to wrap up the study by mid-year, whereupon a production decision will be made.
Mineralization in the East zone is hosted by three gold-bearing quartz veins which, combined, have a strike length of about 1 km. At last report, the East zone, which extends no deeper than 150 metres below surface, had a resource of 1.6 million tonnes running 18.96 grams gold per tonne.
Barrick, the operator, holds a 70% interest in the property. Minires du Nord holds the remainder.
The recent drilling is part a US$5.8-million, 20,000-metre campaign planned for Tulawaka this year. MDN’s share of the program, US$1.7 million, will be covered by a US$4-million loan facility arranged late last year by RMB Resources, a South African-based financial institution. Barrick will cover the difference.
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