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Komet Resources Inc.
Summary
| Project: | Guiro | |
|---|---|---|
| Deposit: | Guiro | |
| Location: | Burkina Faso | |
| Commodities: | Gold | |
| Date: | 4/11/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 11-4-2018: Komet Resources Inc. announces an Exploration/Drilling Update report for its Guiro deposit at the Guiro project. Drilling results incl. 1.83m @ 67.58g/t Au from 58.82m. Québec City, April 11, 2018 – Komet Resources Inc. is delighted to have gen | |
| Resources: | (Not mentioned in this report) | |
| CP/QP: | [Overall Report]: Jacques Marchand (Not stated) | |
| ABSTRACT: | Québec City, April 11, 2018 – Komet Resources Inc. is delighted to have generated record gold sales of CA$1,354,000 in the first quarter of 2018, with a production cash cost of CA$1,038,000 for 27.5 kilos of gold from the Guiro mine located in Burkina Faso. This occurs after only two quarters of operation since the active start of the optimized process. The modernization of the Guiro plant was completed at the end of the second quarter 2017, with, among other things, the installation of an Acacia intensive leaching reactor, the establishment of an in-series triple gravity concentrator system, the refurbishment of a larger capacity ball mill with a larger capacity and the installation of a hydrocyclone to operate in closed circuit mode. Recent Development at the Guiro Mine The company has recently obtained the results of eight diamond drill holes conducted as part of the ongoing resource development of the Guiro mine in Burkina Faso (see table below). These include the following intersections: 0.68 m grading 180.50 g/t Au in borehole Gu2017dd05, 1.24 m grading 10.36 g/t Au in borehole Gu2017dd03 and 1.68 m grading 17.11 g/t Au in borehole Gu2017dd06. Gu2017dd04 borehole also intercepted mineralization below the 4-east level in the mine, 12.5 meters west to the previously known Gu2015dd16 hole of 4.3 m grading 9.2 g/t. The results of this survey confirm the continuity of the vein as defined in the published NI43-101 resource calculation. Mining planning will be in this way better defined. The experience in the Guiro mine allows us to give an influence of 12.5 meters on both sides of a hole. Future development in this area then allows us to plan more than 7,100 t at 7.79 g/t Au undiluted. The vein is still open at least toward the west and at depth. Furthermore, the Gu2017dd06 borehole located between two previously mined stopes on level 2, confirms a hitherto unknown continuity due to inaccessibility. This will allow us to mine more than 1000 t at 17.11 g/t Au undiluted. This excellent result will be followed by verification of the upper vertical continuity of level 2 in this new mineralized horizon. | |
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