Partners Consolidated Mining Corp. (CMC) of West Africa and Oliver Gold (OGO-V) have reported assay results from drilling on the Main zone at the Segala project in Mali.
To date, 11 infill diamond drill holes totalling 3,048 metres have been completed; they were assayed using a total gold metallic “tabling” procedure over intervals of 1 metre.
Hole SD96-10 intersected 30.9 metres grading 7 grams gold per tonne, including 2 metres grading 74.5 grams. Hole SD96-11 intersected 36.4 metres grading 7.1 grams, and 2 metres grading 7.2 grams.
The second phase of diamond drilling at the Main zone, where hole SD96-12 is being drilled to test the continuation of the mineralized structure to the west, began in late August. The mineralization has been traced for a strike length of 1,200 metres and to depths of more than 300 metres. It remains open to the west and downdip.
“We’re very pleased with the results,” says Oliver director Bonnie Whelan, “and we’re getting more encouraging results as we go deeper.” Based on drilling completed last year at 100-metre stepouts, the company estimates a resource of 1 million oz. “This year, we’re drilling at 50-to-25-metre intervals to bring [the] resource into the proven and probable category,” adds Whelan.
The Main zone, which is bounded by a shear structure, hosts a geological resource of 11 million tonnes grading 2.8 grams. Mineralization occurs as visible gold in quartz veins within an envelope of low-grade alteration.
CMC West Africa, a subsidiary of CMC South Africa, has title to the Segala project, while Oliver has the option to earn a half interest.
Meanwhile, Trillion Resources (TLQ-T), which owns 30% of CMC South Africa and has a 6% interest in Oliver, is in the process of acquiring 51% of CMC West Africa.
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