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- Marvel Gold (MVL) has updated the market on the current drill program at its Lakanfla Gold Project in western Mali, Africa
- Drilling began earlier in the month with aims to identify potential mineralised areas
- To date, eight holes have been completed, with the majority of the holes intersecting karst horizons
- Karst is an area formed via the dissolution of rocks such as limestone, gypsum, and dolomite
- Samples are expected to be dispatched in November with results expected in mid-December
- Marvel has ended the day 6.76 per cent in the red with shares trading for 6.9 cents each
Marvel Gold (MVL) has updated the market on the current drill program at its Lakanfla Gold Project in western Mali, Africa.
Drilling began earlier in the month with eight holes, for 1653 metres, completed to date.
The aim of this drilling is to identify potential mineralised areas via reverse circulation (RC) and diamond drilling.
So far the majority of the holes have intersected karst horizons which were found at various depths and thickness.
Karst is an area formed via the dissolution of rocks such as limestone, gypsum, and dolomite.
The presence of karst explains the extensive gravity lows that are present at Lakanfla and is important because the dissolution is believed to be responsible for upgrading low-grade gold.
“We are encouraged that the rock types encountered by drilling to date have confirmed the presence of a karst at Lakanfla,” Executive Director Chris van Wijk said.
“Our remaining holes are spaced around the seven kilometre strike of gravity lows that we now know exist due to karst formation and carbonate rock dissolution processes,” he added.
Due to the distance between the laboratory and the project area, Marvel will dispatch all samples once drilling has completed, which is expected in mid-November.
As such, results are expected to be reported on throughout December.
Marvel has ended the day 6.76 per cent in the red with shares trading for 6.9 cents each in a $28.54 million market cap.
