- Latest drill results from Firefinch’s (FFX) majority-owned Morila gold project in Mali have indicated the presence of a new high-grade zone
- The high-grade area is situated on the eastern side of the Morila Super Pit where recent drilling aimed to target extensions to historical high-grade intersections
- Results include 30.3g/t gold over five metres including one metre at 128g/t gold and 31.2g/t gold over 1.15 metres
- MD Michael Anderson is pleased with the results and says, “It seems the more we drill, the more we find” and plans to continue drilling to better understand the deposit
- Company shares ended Monday’s session 4.9 per cent lower at 68 cents
Latest drill results from Firefinch’s (FFX) majority-owned Morila gold project have indicated the presence of a new high-grade zone.
The high-grade area is situated on the eastern side of the Morila Super Pit where recent drilling was focused to target extensions to historical high-grade intersections and to test areas which hadn’t been adequately drilled.
Results have come back from three drill holes and include five metres at 30.3 grams of gold per tonne (g/t) from 294.6 metres including one metre at 128g/t gold, 1.15 metres at 31.2g/t gold from 174 metres, and 7.9 metres at 5.6g/t gold from 313.6 metres within a wider zone of 22.2 metres at 2.24g/t gold from 299.3 metres.
Firefinch believes these results suggest there’s a new high-grade zone at Morila which reportedly contradicts the historical interpretation that mineralisation in this area is offset by shearing.
Managing Director Michael Anderson said the company was pleased with the results.
“It is always exciting to receive high grade drilling results but to receive several meaningful intersections above 30g/t gold is certainly noteworthy,” he said.
“It seems with Morila the more we drill, the more we find, and our intention is to continue drilling to better understand this globally significant deposit.”
The company found the shallow intersections of 1.15 metres at 31.2g/t gold from 174
metres in MRD0021 and 1.2 metres at 18.1g/t gold from 177.3 metres in MRD0025to be significant as if infill drilling confirms this lode is continuous, it will add additional open pittable mineralisation to the Morila resource.
Firefinch is currently progressing follow-up drilling to these results with drilling already completed between MRD0021 and MRD0025.
Dr Anderson said the company plans to use the assays to update the geological interpretation in this area and confirm the geometry of these high-grade zones for further drilling. Once this is complete, it plans to undertake a resource update for the Morila Pit and Morila NE areas.
Four rigs will continue to operate at the Mali-based project over the Christmas and New Year period.
Company shares ended Monday’s session 4.9 per cent lower at 68 cents.