Semafo (SMF-T, SEMFF-O) has received its best-ever drill results from the Mana gold mine in Burkina Faso.
Hole WDC 133 returned 5.24 grams gold over 57.8 metres, including an average of 10.21 grams gold over a distance of 16.6 metres. The intercept reached a depth of 393.8 metres.
Semafo says the drilling validates the continuity of the mineralized zones at depth and that hole WDC 133 represents a swell in the main lode.
The company says that infill drilling results is hinting that the main lode continues on an up plunge of the high-grade mineralization at the bottom northeast end of the Wona main pit.
The company has drilled more than 29,000 metres since April, totaling 80 holes, with the goal of expanding resources.
Semafo started mining at Mana in 2008. In the third quarter of 2009, the company produced 41,600 oz. gold at the Mana mine of a total 55,300 oz.
For all of 2009, Semafo expects to produce 220,000-240,000 oz. gold from all its mines.
The company’s other mines are the Kiniero gold mine in Guinea and the Samira Hill gold mine in Niger.
Semafo shares were up 2.7% today, or 9¢, to $3.38 on a trading volume of 626,000 shares.
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