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Boss Resources Ltd.
Summary
| Project: | Golden Hill | |
|---|---|---|
| Deposit: | C-Zone, Ma, Peksou | |
| Location: | Burkina Faso | |
| Commodities: | Gold | |
| Date: | 2/5/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 5-2-2018: Boss Resources Ltd. announces an Exploration/Drilling Update report for its C-Zone, Ma, Peksou deposit at the Golden Hill project. Drilling results incl. 11m @ 4.87g/t Au from 52m. Boss Resources Limited (ASX: BOE) (“Boss” or the “Company”) is p | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Peter Mann (Teranga Gold Corp/Internal) | |
| ABSTRACT: | Boss Resources Limited (ASX: BOE) (“Boss” or the “Company”) is pleased to report that Teranga Gold Corporation ("Teranga") (TSX: TGZ) announced on 1 February 2018 (Canadian time) that advanced drilling continues to yield new discoveries and high-grade, near surface and deeper gold mineralization at the Ma prospect on the Golden Hill property in Burkina Faso, West Africa (Figure 1). Teranga has an earn-in agreement on the Golden Hill property with Boss Resources. Richard Young, President and CEO of TGZ, states “Golden Hill, located in the heart of the proven gold producing Houndé Greenstone Belt, is developing into one of the best high-grade gold exploration projects in West Africa. Boss currently holds a 49% interest in joint venture with Teranga over the Golden Hill and Gourma Gold Projects located in Burkina Faso, West Africa. Teranga manages the joint venture and is funding all exploration on the projects up to the completion of a definitive feasibility study (“DFS”) and Decision to Mine. On delivery of the DFS, Teranga’s interest in the joint venture will increase to 70% and they retain the rights to acquire an additional 10% in the joint venture for A$2.5 million. Upon completion of the DFS but prior to a Decision to Mine, Boss may elect to convert the remainder of their interest to a 1.5% Net Smelter Return, otherwise Boss shall be free carried to a decision to mine and will then be required to contribute on a pro rata basis. | |
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