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Completion of Analysis of Historic Drilling Results at Kerboulé Gold Project, Burkina Faso
Alecto Minerals plc (AIM: ALO), the AIM quoted mineral exploration company focussed on West and East Africa, has provided an update on the 399.5 sq. km. Kerboulé Gold Project, located in the highly prospective Birrimian-age Djibo gold belt in northern Burkina Faso, following the successful completion of a detailed internal analysis of historical drilling data.
Highlights:
· Completion of detailed internal analysis of data from historical drilling at the Kerboulé Project across the two permits
· Analysis has identified three discrete deposits with sufficient drilling density to estimate contained resource ounces
· Numerous vein sets and orientations identified in drill core that the Board believes could add significant value to future drilling campaigns
· Increased understanding of the structures and mineralisation controls
· The Company is on track to achieve a maiden resource estimate for the Kerboulé Project in 2015 and thereby increasing the Company’s existing gold inventory
Alecto’s CEO, Mark Jones, commented:
“We acquired the Kerboulé Project in an all shares, low-cost transaction in November 2014, and the completion of the internal review of the extensive historical drilling data is our first step in advancing the Project as rapidly as possible. The conclusions drawn by our technical team, following the analysis of the historic drilling data and the ongoing geochemistry evaluation, confirm the prospective nature of the Project and we believe there is considerable opportunity to enhance the solid work that has been completed historically. Importantly, this work will assist us in seeking to ensure that our own drill holes, subject to funding, target the key structures as we aim to achieve a maiden resource for the Kerboulé Project in 2015 and then increase it with our own exploration approach.”
Following the completion of the acquisition of the Kerboulé Project in November 2014, Alecto’s geologists have completed a detailed study of the available data from historical exploration activities.
The extensive drilling database includes a total of 3,420 metres from 12 diamond drill (‘DD’) holes, all of which had significant intercepts, and 26,603 metres from 264 reverse circulation (‘RC’) holes, of which 180 had significant intercepts. We have completed a detailed analysis of the mineralisation styles and controls in order to increase the Board’s understanding, plan the next phases of work and to assist in the definition of a maiden resource for the Kerboulé Project in 2015.
