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Exploration update on the Massakama Target, Kossanto Gold Project
Alecto Minerals plc (LSE:ALO), the AIM quoted mineral exploration company focussed on West and East Africa, is has provided an exploration update on the Massakama target (one of the two main target areas) at the company’s wholly owned Kossanto Gold Project located in the prospective Kenieba Inlier in western Mali which hosts several major producing gold mines.
Highlights:
· New prospects identified at Massakama through extensive artisanal workings, and geological surveys undertaken by the Company – strong indications that Massakama hosts an extensive gold-bearing system
· 22 reverse circulation (‘RC’) drill holes for 1,998m of scout drilling undertaken at Massakama over four prospect areas, Goreba, Big Pit, MSK Centrale and the newly discovered Rhyolite Hill, serving to strengthen the Company’s understanding of this expansive area
o High grade quartz veins intercepted at the Goreba target
o Mineralised intersections in silicified mafic volcanics and siliceous epidote rock intersected at the MSK Centrale target
o An intrusive or structural contact appears to delineate mineralisation at Rhyolite Hill where artisanal miners are successfully targeting gold mineralisation
· Gold mineralisation identified within 18 of the RC holes drilled, including the following intercepts:
o TRC004 – 1m @ 3.95g/t Au from 9m
o TRC004 – 1m @ 12.8g/t Au from 49m
o TRC006 – 1m @ 5.88g/t Au from 20m
o TRC008 – 3m @ 1.81g/t Au from 35m
o TRC009 – 2m @ 13.54g/t Au from 7mTRC013 – 5m @ 2.04g/t Au from 41m
o TRC019 – 28m @ 0.67g/t Au from 16m
o TRC021 – 23m @ 1.35g/t Au from 34m
o TRC022 – 16m @ 1.0g/t Au from 3m
· Grab samples and channel sampling of artisanal pits at the newly identified Toukwatou target underway
o Initial 2m channel sample of 2.62 g/t Au received
o Awaiting results from further channel sampling
· Regional-scale and detailed soil sampling grids, termite mound sampling and channel sampling of artisanal pits underway across the Kossanto Project, expected to enhance understanding of the entire area and at Massakama in particular
Mark Jones, CEO of Alecto, commented “We are extremely pleased with these exploration results for the Massakama target at our Kossanto Project, as they offer a very real indication of significant gold mineralisation in this area. The results indicate that we have a mix of high-grade quartz veins and mineralised structures within multiple shear zones. The exploration approach at Massakama has followed the same methodology that we have successfully employed at the Gourbassi target on the Kossanto Project; using scout drilling to identify resource-drill targets. Additionally, we have adopted an exploration approach that has enabled us to live and work in harmony with the very large artisanal mining community, which has been instrumental in assisting us in identifying prospects at the Kossanto Project.
“In tandem, whilst the RC rig was used at the Massakama target, in order to gain the value of concurrent activity, our in-house RAB (reverse air blast) rig has been employed drilling possible extensions to the Gourbassi target, which has a current JORC Code compliant inferred resource estimate of 193,000 oz Au.”
