- Manas Resources (MSR) has received results from a 2200-metre drilling program at the Mbengué Gold Project in northern Côte d’Ivoire
- Drilling focused on three prospects within the southern permit after auger and geophysical surveys returned a significant gold anomalism
- Unfortunately, the few reported results were low-grade, with the highest being 2.25g/t gold
- However, Manas has now satisfied the US$2 million (roughly A$2.58 million) it needed to spend to earn a 70 per cent interest in the southern Mbengué permit
- The company may now form a joint venture with Perseus Mining’s (PRU) subsidiary, Occidental Gold SARL
- Company shares are down 16.7 per cent and are trading at 0.5 cents
Manas Resources (MSR) has received results for two-metre composite samples taken from a 2200-metre drilling program completed in December last year.
The reverse circulation drilling program was conducted within the southern permit of the Mbengué Gold Project in northern Côte d’Ivoire.
The project covers a total area of 1040 square kilometres across two exploration permits and adjoins Barrick Gold’s 4.5-million-ounce Tongon Gold Mine.
Drilling focused on the Le Vieux, Phew and Madala prospects after auger and geophysical surveys returned significant gold anomalism at these prospects.
However, latest results are relatively low-grade and include 12 metres at 1.13g/t gold from 70 metres, two metres at 2.25g/t gold from 44 metres at the Le Vieux prospect and four metres at 1.13g/t gold from 14 metres at the Madala prospect.
Further results are pending but it isn’t certain when these will be released.
Under an earn-in agreement with ASX-listed Perseus Mining (PRU), Manas is earning a 70 per cent interest in the southern permit of the Mbengué Gold Project by spending US$2 million (roughly A$2.58 million). It already owns a 100 per cent stake in the remaining project area.
Pleasingly, the company has now completed this earn-in expenditure and will form a contributing joint venture with Perseus’ subsidiary, Occidental Gold SARL.
Manas is now undertaking a review of surface geochemistry, including past soil sampling and auger drilling, which has shown multiple prospective gold-in-soil anomalies within the Mbengué permit that remain untested. Infill and auger drilling will continue across the project.
Company shares are down 16.7 per cent and are trading at 0.5 cents at 2:43 pm AEDT.