- African Gold (A1G) shares have soared amid the release on bonanza gold results from its Didievi Gold Project in Côte d’Ivoire
- The materials stock reported best results of 10 metres at 123 grams per tonne gold from 66 metres, including two metres at 613g/t gold
- A1G sent intercepts over 5g/t from the recently completed program off for screen fire assays with the results showing improvements
- The company also announced $3.9 million rights issue, with two new shares to be given for every seven held, with new shares priced at 15 cents each
- African Gold shares came out of a trading halt on Wednesday, jumping up 75.6 per cent to 36 cents per share during afternoon trade
African Gold (A1G) shares have soared amid the release on bonanza gold results from its Didievi Gold Project in Côte d’Ivoire.
The materials stock reported best results of 10 metres at 123 grams per tonne gold from 66 metres, including 2 metres at 613g/t gold.
The company sent intercepts over 5g/t from the recently completed program off for screen fire assays to check for potential coarse gold.
A1G reports the majority of the results show improvements with screen fire assays to be carried out on high-grade samples in the future.
Commenting on the results, Exploration Manager Glen Edwards said the recent drilling had identified new lodes at Didievi.
“Historically, it hasn’t been recognised that a high-grade gold component existed at Didievi however artisanal miners have been collecting free gold on the margins of the deposit,” Mr Edwards said.
“As part of our current drill program we ran screen fire assays over the higher-grade intervals.
“These screen fires returned some spectacular intercepts including some of the highest-grade intercepts I have drilled in my career.”
Along with its new results, the company also announced $3.9 million Rights Issue on Wednesday.
Under the capital raise, A1G will offer two new shares for every seven held, with new shares to be priced at 15 cents each.
The renounceable offer will close in October, with the proceeds of the funds to be applied to its existing projects.
African Gold shares came out of a trading halt on Wednesday, jumping up 75.6 per cent to 36 cents per share during afternoon trade.
At 2:26 pm AEST the company’s shared were still up 70.7 per cent at 35 cents each.