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Parallel Mining Corp.
Summary
| Project: | Sebedougou | |
|---|---|---|
| Deposit: | Sebe | |
| Location: | Burkina Faso | |
| Commodities: | Gold | |
| Date: | 5/24/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 24-5-2017: Parallel Mining Corp. announces an Exploration/Drilling Update report for its Sebe deposit at the Sebedougou project. Drilling results incl. 4.5m @ 10.2g/t Au. Vancouver, British Columbia, May 24, 2017– Parallel Mining Corp. (TSX-V: PAL) (the " | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Julia Singh (Independent) | |
| ABSTRACT: | Vancouver, British Columbia, May 24, 2017– Parallel Mining Corp. (TSX-V: PAL) (the "Company" or “Parallel”) announces that drilling on its recently optioned Sebe property in Burkina Faso reported an intercept in a new zone of 10.2 grams per tonne (“gpt”) gold over 4.5 meters from 31.5 to 36.0 meters in diamond drill hole SEB-DD-17-04 (including 24.9 gpt over 1.5m from 34.5 to 36.0m). As this is an initial intercept, additional drilling will be required to estimate the true width. The recently completed diamond drill program consisted of 726.0 meters in 5 holes. The Company plans to return to further investigate this new discovery in late June with additional diamond drilling as part of a larger program including follow up drilling at its optioned Garsay property in northeast Burkina Faso. The recently completed drilling program at Sebe indicates that the gold-bearing veins being exploited by shallow artisanal mining operations do not persist to depth. However, the drilling has encountered intercepts in two previously undetected structures parallel and adjacent to the active areas. Artisanal workings tend to be located only in areas with surface indications of gold and are often not sited on the stronger, hidden parts of the mineralizing system. John Anderson, President and CEO, comments “With two targets [SEB-DD-17-04 with 10.2 gpt gold over 4.5 meters and the previously reported RAB hole SEB-16-RAB-014 assaying 2.2 gpt over 18 meters] both open at depth and along strike, follow up work at Sebe is very warranted. We are excited to get back to work in the area.” | |
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