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Algold Resources Ltd.
Summary
| Project: | Tijirit | |
|---|---|---|
| Deposit: | Tijirit | |
| Location: | Mauritania | |
| Commodities: | Gold | |
| Date: | 5/1/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 1-5-2017: Algold Resources Ltd. announces a Resource Estimation report for its Tijirit deposit at the Tijirit project. Inferred resources doubled and average gold grade increased by 25%. Algold (ALG - TSX.V) is a Canadian junior company focusing on explor | |
| Resources: | (Resource): 0.73Mt @ 1.03g/t Au (Meas.), 1.226Mt @ 1.04g/t Au (Ind.) and 8.193Mt @ 2.29g/t Au (Inf.) | |
| CP/QP: | [Resources]: Yann Camus (SGS Canada Inc.) | |
| ABSTRACT: | Algold (ALG - TSX.V) is a Canadian junior company focusing on exploration and development of gold deposits in West Africa. The company has exercised the option to acquire two (2) of Gryphon Minerals (ASX – GRY) Exploration Licenses located in the Islamic Republic of Mauritania (RIM). (News Release “Algold Announces Exercise of Option on Gryphon Minerals” dated March 11, 2016). It includes the Tijirit exploration licenses, on which the company commissioned the author to prepare an update of the previous 2016 resource estimate with a NI 43-101 technical report. The previous technical report was dated August 4, 2016 and the resource estimate was effective on June 15, 2016. The Tijirit property is located in northwestern Mauritania, 260 km NNE of the capital Nouakchott and 200 km ESE (direct) of the major city of Nouâdhibou, located on the Atlantic coast. The Tijirit exploration permit 447B2 covers 1000 km2 . It was first granted to Shield Mining Mauritania SA under RIM decree 2007-200 of November 20th 2007 for three year period in the Guelb Enich - Inchiri area. It was renewed a first time under decree 2010-256 of November 24th 2010. The permit was transferred to Gryphon Minerals Mauritania SA under decree 2013-876 of May 23rd 2013. The permit was renewed a second time to Gryphon under decree 2014-036 of April 20th 2014. Permit 447B2 expires after a three year period in June 2017. As of the effective date of the report (March 17 th), Algold was at the final stage of discussion with the Government of Mauritania to transform a 300 km2 portion of the permit 447B2 into a mining licence. On June 12th, Algold announced that the Mauritanian government has formally consented to the granting of that mining license for Algold’s Tijirit project. | |
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