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Algold Resources Ltd.
Summary
| Project: | Tijirit | |
|---|---|---|
| Deposit: | Eleonore | |
| Location: | Mauritania | |
| Commodities: | Gold | |
| Date: | 4/25/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 25-4-2017: Algold Resources Ltd. announces an Exploration/Drilling Update report for its Eleonore deposit at the Tijirit project. Drilling results incl. 10m @ 14.15g/t Au from 54m. ALGOLD RESOURCES LTD. (TSXV: ALG) (the "Corporation") today announced more | |
| 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 more preliminary 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 Central zones. These new results further increase the strike extension of both the Eleonore Central and the Eleonore South zones, which now cover areas of more than 650 meters and 1.1 kilometers, respectively. At present, the Eleonore North zone has been defined over a distance of more than one kilometer. All three zones remain open along strike and at depth. The Phase III 20,000-meter reverse-circulation ("RC") and 5,000-meter diamond-drill ("DDH") drilling program was initiated on February 1, 2017 with the objective to further delineate the high-grade gold deposit. As of April 21, 2017, 72 RC holes, 11 DDH and 14 RC pre-collar/diamond tails were completed for 10,054 meters of RC and 2,520 meters of diamond drilling. As of April 21, 2017, 6,455 samples (excluding QA/QC) from the Phase III drilling program were sent to the SGS Bamako lab facility for analysis. To date, the Corporation is in receipt of 3,553 RC and 226 DDH results, with assays still pending for 2,133 RC and 433 DDH samples. The Phase III drilling program remains ongoing and is expected to be completed by the end of the second quarter 2017. Algold has sufficient cash on hand to complete all planned Phase III drilling, including related fieldwork, assays preparation and analysis. | |
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