Eden Roc into sulphides; gold reserves on increase

Gold reserves at the 68%-owned Afema property of Eden Roc Minerals (TSE) in Ivory Coast have increased to 1.4 million oz. from 804,000 as a result of recent drilling.

Currently, deep drilling is being carried out at the Aniuri mine and the nearby Grid-X deposit. This work has confirmed the downdip extension of the oxidized orebodies into sulphide ore zones. This style of mineralization is similar to the nearby Ashanti gold mine in Ghana, where reserves exceed 18 million oz.

Significant intersections in the sulphide ore at the Aniuri were 0.096 oz. gold per ton over 190 ft. and 0.238 oz. over 20 ft. All the intersections were between 200 and 500 ft. below surface. In the oxide ore, near-surface intersections ranged between 0.133 oz. and 0.174 oz. over widths of 10-33 ft. At Grid X, four intersections in sulphide ore ranged between 0.161 oz. and 0.283 oz. over 10-49 ft. at vertical depths of 130-200 ft.

Eden Roc expects continuity of the sulphide ore at depth and, as a result, is considering contructing a large mining and processing plant. Management is increasing reserve targets to 1.4 million from 1 million oz. for 1994. Next year, it expects to have 2.5 million oz. in reserves.