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Algold Resources Ltd.
Summary
| Project: | Tijirit | |
|---|---|---|
| Deposit: | Eleonore | |
| Location: | Mauritania | |
| Commodities: | Gold | |
| Date: | 1/20/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 20-1-2017: Algold Resources Ltd. announces an Exploration/Drilling Update report for its Eleonore deposit at the Tijirit project. Drilling results incl. 4.65m @ 3.24g/t Au. ALGOLD RESOURCES LTD. (TSXV: ALG) (the "Corporation") today announced the final as | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Andre Ciesielski, Alastair Gallaugher (Internal) | |
| ABSTRACT: | ALGOLD RESOURCES LTD. (TSXV: ALG) (the "Corporation") today announced the final assay results from its Phase II ¬ 10,000¬meter drilling campaign, as well as the results of a regional rock chip sampling program carried out on the Tijirit property ("Tijirit") in Mauritania. Results have not only continued to demonstrate the high ¬grade nature of the Eleonore zones, but have also revealed a new mirror¬ image structure 500 meters west and parallel to Eleonore, further expanding the overall footprint of the mineralized area. The Phase II 10,000¬meter drilling program was completed on December 8, 2016 and included 8,583 meters of reverse ¬circulation ("RC") and 1,147 meters of diamond drilling ("DDH") drilling, for a total 20,411 meters. As of January 16, 2017, Algold was in receipt of all assays from the two phases, representing 20,411 meters of drilling on the Tijirit property. The Corporation sent 5,790 samples for analysis as part of Phase II and a total of 11,780 samples from both phases of the 2016 exploration program. The Eleonore North zone has now been defined by drilling over 1,000 meters along strike to a vertical depth of up to 150 meters below the surface. The Eleonore Central zone has been defined over 670 meters and up to a vertical depth of 180 meters, while the Eleonore South zone has been defined over 1,200 meters and to a vertical depth of 200 meters. All three zones are open along strike and at depth over a three ¬kilometer strike. This is in addition to the Nour discovery announced on November 1, 2016. These results, combined with the 10,000 meters drilled from Phase I and the 35,000¬meter drilling program carried out by previous operators, will serve as the basis for the resource estimate to be published in the coming weeks. | |
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