Kinbauri Gold expands ground in Burkina Faso

Junior explorer Kinbauri Gold (CDN) is expanding its presence in the West African nation of Burkina Faso.

An agreement with two Montreal-listed companies, Loubel Explorations and Melkior Resources, calls for Kinbauri to earn a 65% interest in the 314-sq.-km Dossi concession. To do so, it must issue $100,000 worth of stock to the two companies and spend $1 million on exploration over the next four years.

The property hosts an 18-km-long geochemical gold soil anomaly, which is close to a shear zone. The width of the anomaly varies from 0.5 to 4 km, and soil sampling has defined drill targets with values ranging up to 6.3 grams gold per tonne.

Elsewhere in the country, Kinbauri will explore the 478-sq.-km Soukoura concession, which is underlain by a major shear zone in volcanic and sedimentary rocks with associated gold-manganese and copper showings.

After Kinbauri spends $200,000 exploring this property, Icanore Resources will be able to earn up to a 50% interest by spending a similar amount. Kinbauri will then have the right to re-acquire the half interest by paying Icanore $300,000.

Closer to home, Freewest Resources (VSE) has returned the 30-claim Morrisette Creek property near Kirkland Lake, Ont., to Kinbauri. Freewest carried out geophysics and drilling and, although gold values associated with an area of extensive alteration and shearing were obtained, no economic concentrations were found.