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Bassari Resources Ltd.
Summary
| Project: | Makabingui | |
|---|---|---|
| Deposit: | Makabingui | |
| Location: | Senegal | |
| Commodities: | Gold | |
| Date: | 3/29/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 29-3-2017: Bassari Resources Ltd. announces an Exploration/Drilling Update report for its Makabingui deposit at the Makabingui project. Drilling results incl. 9m @ 13.5g/t Au from 61m. The Directors are pleased to report on promising assay results returne | |
| Resources: | (Reserve, Prob.): 0.86Mt @5.7g/t Au for 158koz Au contained at project | |
| CP/QP: | [Overall Report]: Moussa Diba (Internal) | |
| ABSTRACT: | The Directors are pleased to report on promising assay results returned this week in relation to the important grade control infill drilling program being conducted at the Makabingui Gold Deposit. Also, project finance negotiations have commenced with a term sheet financing proposal under review. The program consists of 4,025 metres of reverse circulation (RC) grade control drilling primarily in Pit 1 and Pit 2 of the Makabingui Gold deposit. The grade control infill drilling program is the first stage in the development of the high grade Makabingui Gold deposit. Drilling started on the 28 January 2017 at Pit 1 with Drilleex, a Senegalese drilling company. It is being undertaken on a 25m x 25m grid. About 38 holes totalling 1,941m have been completed in 8 lines (figure 2). The objective of the grade control infill drilling is to predict the precise location, quantity and grade of ore available to be mined. All the holes have been sampled and the collected samples have been sent to SGS laboratory at Bamako for gold analysis. Most of the completed holes have intersected the mineralised shear breccia structure targets characterised by silica alteration associated mainly with pyrite and arsenopyrite and have demonstrated continuity of the mineralised structures. 3 Visible coarse gold has been observed in RC chips from several holes. | |
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