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Teranga Gold Corp.
Summary
| Project: | Golden Hill | |
|---|---|---|
| Deposit: | Golden Hill | |
| Location: | Burkina Faso | |
| Commodities: | Gold | |
| Date: | 2/1/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 1-2-2018: Teranga Gold Corp. announces an Exploration/Drilling Update report for its Golden Hill deposit at the Golden Hill project. Drilling results incl. 11m @ 4.87g/t Au from 38m. Toronto, Ontario – February 1, 2018 – Teranga Gold Corporation ("Teranga | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Peter Mann (Internal) | |
| ABSTRACT: | Toronto, Ontario – February 1, 2018 – Teranga Gold Corporation ("Teranga" or the "Company") (TSX: TGZ, OTCQX: TGCDF) is pleased to announce that early-stage drilling continues to yield high-grade, nearsurface and deeper gold mineralization at its Golden Hill property in Burkina Faso, West Africa. Teranga has an earn-in agreement on Golden Hill with Boss Resources Limited (ASX:BOE) pursuant to which Teranga, as operator, can earn a minimum 80% interest in the joint venture upon delivery of a feasibility study and payment of AU$2.5 million. “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,” said Richard Young, President and Chief Executive Officer. “With positive results from initial drilling at C-Zone and ongoing drill success at Ma, Peksou, Jackhammer Hill and Nahiri, we are expanding our 2018 drill program and initiating the supporting technical work for this rapidly advancing project.” An extensive 2018 drill campaign is underway on all five prospects and the Company expects to issue an initial resource by the end of 2018. “Golden Hill continues to demonstrate excellent correlation of the various mineralized zones at each of the five prospects drilled to-date. Based on these positive results, we have budgeted $8 million for this year’s exploration program at Golden Hill to move the five current prospects into an initial resource by year end and to expand our exploration program outwards to initiate exploration of more than a half dozen other targets,” stated David Mallo, Vice President, Exploration. | |
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