AFRICA — Raymor Resources tests gold projects in Mali

The success of the Sadiola Hill gold mine in Mali has prompted other Canadian juniors to take a serious look at the gold potential of the West African nation.

Among those companies is Raymor Resources (RAR-A), a Quebec-based junior that recently formed a partnership with a Malian company to explore for the yellow metal. The 5-year agreement calls for Compagnie de la Falame (Comifa) to transfer to Raymor at least 85% of its interests in various exploration permits.

“This partnership is strategic for us because we are in the process of developing a number of alliances with Canadian and foreign partners to enable us to step up our activities in Mali,” explains Stephane Robert, president of Raymor. “Our decision is based on the considerable surface gold deposit potential of these properties, which can be mined at the lowest costs in the entire gold mining industry.”

Comifa will carry out the basic exploration work and, depending on the results, Raymor will acquire the ground, either on its own or in partnership.

The work and payments will begin once the exploration permit has been signed and the partners have drafted a memorandum of agreement. A drilling program will begin testing more advanced prospects this year.

Raymor has been active in Mali for several years, and previously signed an agreement to acquire an 85% interest in the Yeremounde gold property, which is part of the Comifa property, some 25 km from the town of Kenieba.

That property lies in the middle of a Birimian volcano-sedimentary belt intruded by kimberlite pipes and masses of granite and granodiorite, which, in turn, are intersected by major faults. The most important of these faults runs through the Sadiola Hill gold deposit, as well as other deposits in the region.

Raymor also owns 75% of the Bogodo placer gold concession in Mali.

In Canada, the junior is active in Quebec, where it holds interests in a large lithium deposit and a gold deposit.