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Algold Resources Ltd.
Summary
| Project: | Tijirit | |
|---|---|---|
| Deposit: | Eleonore | |
| Location: | Mauritania | |
| Commodities: | Gold | |
| Date: | 5/23/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 23-5-2017: Algold Resources Ltd. announces an Exploration/Drilling Update report for its Eleonore deposit at the Tijirit project. Drilling results incl. 21 m @ 3.05g/t Au from 117m. MONTREAL, May 23, 2017 /CNW Telbec/ - ALGOLD RESOURCES LTD. (TSXV: ALG – | |
| Resources: | (Not mentioned in this report) | |
| CP/QP: | [Overall Report]: Alastair Gallaugher, André Ciesielski (Internal) | |
| ABSTRACT: | MONTREAL, May 23, 2017 /CNW Telbec/ - ALGOLD RESOURCES LTD. (TSXV: ALG – "Algold" or the "Corporation") today announced more assay results from its Phase III 20,000-meter drilling campaign carried out on its Tijirit property ("Tijirit") in Mauritania. The results continue to demonstrate the high-grade nature of the Eleonore zone and extend the mineralized horizons in the South and North areas. These new results further increase the strike and down dip extensions of both Eleonore North and Eleonore South. These two areas, along with Eleonore Central, remain open along strike and at depth. In hole T17RC084, the structure hosting the mineralization appears open down dip. Thirteen meters of plus-1g/t Au mineralization were intersected with significant gold grades, up to 23.7 g/t Au, occurring in an area of increasing quartz veining. The shear zone assemblage hosting the gold mineralization, as per the other Eleonore areas, is dominated by high-strain biotite alteration and disseminated pyrite and pyrrhotite (locally up to 1%). Further drilling is planned to test the potential down-dip continuity within the actual Phase III Drilling Program. Hole T17RC075 demonstrates the continuity of mineralization along the major north-south trending structures at Eleonore South as well as the variability in mineralized grades along structures. Algold is also in receipt of drilling results from the Nour Vein, discovered in the fall of 2016, situated seven kilometers north of the Eleonore mineralized zone. | |
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