Mano taps ‘river-of-gold’ in Sierra Leone

Vancouver – Mano River Resources (MNO-V) and joint venture partner Golden Star Resources (GSC-T) have cut impressive gold intercepts on the Yirisen project in central Sierra Leone.

Mano’s drilling on Yirisen, ‘river-of-gold‘ in the local language, returned high-grade intersections of 14 metres assayed at 7.77 grams gold per tonne from core hole YDD1 and 9.1 metres averaging 15.99 grams gold in hole YDD2.

Yirisen is located on the company’s North Pampana licence at the southern end of the Sula Mountains greenstone belt. The project hosts gold mineralization in shear-zone associated vein structures over an inferred strike of 3.8 km. There are multiple bands of high-grade gold observed across widths up to 200 metres. A long history of artisanal gold production, as evidenced in its name, has assisted in exposing additional mineralization outside of the veins, thus increasing the project’s potential.

The area has seen a collection of exploration initiatives by the Geological Survey of Sierra Leone in the late-1950s, the Northern Province Prospecting Venture in the 1960s and a United Nations funded program in the mid-1980s, all contributing to the project’s data bank.

The initial five holes have so far covered 100 metres of strike along the trend, which remains open. The ongoing phase I program has 25 drill holes planned, totalling 2,500-metres, covering one kilometre of strike along the zone.

The company’s reconnaissance exploration on the gold licence has turned up additional zones of mineralization. Channel sampling has returned up to 6 metres grading 3.34 grams gold in an area one kilometre north of the current drilling.

Mano’s agreement with Golden Star calls for the latter to spend US$6 million, staged over four years, to earn a 51% interest in the Pampana, Sonfon and Nimini Gold Licences. Golden Star can increase to 71% or 85% if Mano does not co-fund a feasibility study or mine development, respectively.

Mano River is at the forefront in the re-entry of mineral explorers into newly stabilized Sierra Leone, with over one million hectares under licence in the country and joint ventures in place with Golden Star and BHP Billiton (BHP-N). The West African nation hosts gold and diamond deposits and holds large areas of Archean terrain considered highly prospective for further discoveries.

Mano River also trades on the London Stock Exchange AIM (Alternative Investment Market) and has 210 million shares outstanding. At presstime, the dual-listed issue was up on the results, gaining 4.5 to close at 25 on volume of 89,500 on the TSX Venture Exchange and up a half pence to close at 9.25 pence with volume of 854,238 shares on AIM.