Join our daily newsletter At The Bell to receive exclusive market insights
African Gold Ltd (ASX:A1G) has discovered gold grading 5.6 grams per tonne (g/t) across 65.0 metres from 177 metres in one hole of a six-hole program of diamond drilling at its Didievi project in Cote d’Ivoire.
In addition to this intercept, mineralisation found in the same hole included 9.0 metres at 1.7 g/t of gold from 23 metres, and 28 metres at 1.1 g/t of gold from 77 metres.
However, what was revealed from the deeper – 65 metre – intercept – is that gold mineralisation extends outside of the existing resource envelope and remains open at depth.
This program of diamond drilling is being rolled out to check a potential extension of the gold lodes at the Blaffo Guetto prospect and to infill earlier drilling on its gold-controlling structures, with the ultimate goal of boosting its resource size and categorisation.
This drill hole in particular was testing a predicted extension of the gold mineralisation based on a new geological model, with this mineralisation plunging gently in a south-westerly direction and hosted by the shear zone.
Didievi’s current inferred resource is 4.93 million tonnes for 452,000 ounces of gold at 2.9 g/t gold (1.0 g/t gold cut off).
Managing director Phillip Gallagher said the intercepts were promising based on the geological modelling which had been done on this area of the project.
“65.0m at 5.6 g/t of gold from 177 metres is a spectacular result from the recent diamond drilling program on the Blaffo Guetto prospect,” he said.
“Excitingly, it is an extension of previous mineralisation and remains open at depth, plus it has extended our target area which this diamond drilling was designed to test.
“This is a fantastic result that has shown that the resource modelling that the design of this diamond drilling program was based on is proving to be accurate.”
Shares in African Gold spiked up on the news, and at 10:41 AEDT, they were trading at 9.1 cents – a rise of 93.62% since the market opened.
Join the discussion: See what HotCopper users are saying about African Gold and be part of the conversations that move the markets.
