In exchange for 1 million treasury shares, Trillion Resources (TSE) is acquiring a 51% interest in CMC (West Africa), a subsidiary of Consolidated Mining Corp. of South Africa.
CMC’s main assets are the properties it shares with Oliver Gold (VSE) in Mali and Senegal.
This year, Oliver is spending $3 million to advance Mali’s Segala project to the prefeasibility stage. The 1996 program includes 10,000 metres of diamond drilling, a similar amount of reverse-circulation drilling, and extensive surface exploration.
The Main zone of the Segala deposit, which is bounded by a shear structure, hosts a geological resource of 11 million tonnes grading 2.8 grams gold per tonne. Mineralization occurs as visible gold in quartz veins within an envelope of low-grade alteration.
Additional targets on the Segala property, as well as other projects in Mali and Senegal, are being explored.
Trillion also holds a 30% interest in CMC of South Africa and a 6% interest in Oliver Gold. Its acquisition of a majority interest in CMC is subject to regulatory approval.
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