Axmin outlines resource at Kofi SW

African gold explorer Axmin (AXM-V), fresh from recent discoveries in the Central African Republic, has put a resource number to one of its prospects in Mali.

Reverse-circulation drilling earlier this year at the Kofi project, in the country’s western region, outlined inferred resources of 1.4 million tonnes grading an average of 2.3 grams gold per tonne in two zones, Kofi Southwest B and Kofi Southwest C. The larger B zone carries about 90% of the resource.

Drilling extended only to vertical depths of 40-80 metres in the B zone and 30 metres in the C zone, and the B zone remains open along strike to the north. Axmin plans to test the extensions in the hope of enlarging the known resource.

Kofi is north of three other gold deposits, Randgold Resources’ (RRUS-Q) Loulo and Nevsun Resources’ (NSU-T) Tabakoto and Segala, and is part of a land package in which Axmin is earning 65-75% interests from African Selection Mining (YAF-V). The resource, as estimated by Australian consulting firm Resource Service Group, has a 1-gram-per-tonne cutoff grade and is based on 1-metre sample intervals in the reverse-circulation drill holes.

Work continues at two other Malian prospects, Netekoto and Satifara. At Netekoto, immediately north of the Kofi property, regional-scale soil geochemistry has outlined four gold-bearing zones centred about 15 km north of the Kofi Southwest B and C zones, roughly along strike of the regional shear system. The zones range from 1.4 to 2.2 km in length and are each about 200 metres across at their widest points. Rotary air-blast (RAB) drilling will attempt to provide targets for reverse-circulation follow-up work.

At Satifara, west of the Sadiola Hill mine and about 80 km north of the Kofi and Netekoto projects, soil geochemistry indicates a large zone of gold-enriched soils, and a reconnaissance RAB drill program is planned.

Feasibility work continues on Axmin’s Bouroum permit in Burkina Faso, where it is studying the economics of a joint operation with High River Gold (HRG-T), holder of the nearby Taparko property. Axmin is earning a 65% interest from Channel Resources (CHU-T). Drilling, interrupted by the rainy season, is scheduled to resume in mid-September.