Algold drills 13 m of 16.27 g/t Au at Tijirit
2018-08-28 06:38 ET - News Release
Mr. Benoit LaSalle reports
ALGOLD DRILLING INTERSECTS 16.27 G/T AU OVER 13 METERS
Algold Resources Ltd. has released further assay results from its phase 4 25,000-metre drilling campaign carried out on the corporation's Tijirit property in Mauritania.
Highlights:
Hole T18RC123 (Eleonore North) intersected 16.27 grams per tonne over 13 metres, including 32.13 g/t Au over six metres on Section S9840, inside the open-pit limits as defined in the May, 2018, preliminary economic assessment. Downhole, an intersection of 6.50 g/t Au over two metres indicates that further parallel high-grade intersections may be present.
Hole T18RC125 (Eleonore North) intersected 8.80 g/t Au over two metres on Section S10170, located 25 metres west of hole T16RC092, which intersected 2.41 g/t Au over three metres.
Hole T18RD071 (Eleonore South) returned multiple high-grade intercepts in close proximity including 1.6 g/t Au over 5.5 metres and 2.01 g/t Au over 6.2 metres, 30 metres downdip of T16RC027, which intersected 16.4 g/t Au over six metres (reference Algold's press release dated Aug. 16, 2016).
Hole T18RD083 (Eleonore South) intersected 26.7 g/t Au over 0.7 metre, 1.5 g/t Au over three metres and 5.15 g/t Au over 1.6 metres, 50 metres updip of T17RD002, which returned 10.24 g/t Au over 3.7 metres (reference Algold's press release dated Sept. 12, 2017).
Eleonore North and South zones continue to validate the spatial continuity of the mineralization identified to date and, importantly, demonstrate that high grades are recurrent along strike and dip. Furthermore, the wide, high-grade intersection in hole T18RC123 at Eleonore North indicates the formation of a wide, cigar-shaped, shallow-dipping structure, possibly concentrating in variable large sheared assymetric fold hinges related to late tectonic emplacement.
The new diamond core (DDH) and reverse circulation (RC) drilling results from Eleonore North and South zones corroborate the high-grade and spatial continuity of the mineralization tested. In 2018, as part of the phase 4 drilling program, Algold completed over 7,600 metres of DDH drilling, representing approximately 20 per cent of all drilling completed on the project to date.
Mineralization in Eleonore North is defined over one kilometre, being separate from Eleonore Central by a crosscutting diabase dike. Hosted within the mafic volcanics, it is contained in subvertical or more mildly dipping quartz-rich shear zones locally trending N050, N070 in addition to the regional trend of N020. These zones are both subvertical and more shallower dipping. Visible gold is frequently observed in drill samples, consistent with the zones to the south. The mineralization remains open to the north and at depth.
At Eleonore North, the presence of several significant mineralized intervals at similar depths in the vicinity of hole T18RC123 demonstrates the likely structural control to these zones of well-developed gold mineralization. Further drilling and borehole logging are currently under way to aid in interpretations prior to modelling and testing possible ore shoots.
The Eleonore South mineralization extends over 1.2 kilometres from north to south and is the southernmost zone defined thus far on the 3.4-kilometre-long Eleonore structure. The discrete shear zones that may control the gold mineralization remain largely untested at depth. In addition, several near-surface targets remain untested by drilling and represent additional opportunity for near-term resource addition.
The phase 4 25,000-metre program was initiated on May 7, 2018, with the objective of completing an initial 15,000 metres of drilling by mid-July in order to upgrade inferred resources to the indicated and measured category using a 40-by-40-metre grid. To date, Algold has completed 15,565 metres of reverse circulation and 7,613 metres of diamond drilling and is in receipt of 7,425 RC assays and 2,327 DDH assays.
Detailed geological descriptions of all mineralized zones can be found on Algold's website and on SEDAR in the report entitled, "Algold 43-101 Technical Report: Tijirit Maiden Mineral Resources Estimates for the Tijirit Gold Project in Mauritania."
Following completion of the initial 15,000 metres of phase 4 drilling, Algold commenced the remaining 10,000 metres of drilling, which is aimed at testing the depth and strike extensions at Eleonore, as well as defining resources over new high-priority targets at Eleonore East and Salma. Algold looks forward to updating the market with additional exploration results in the near future.
ASSAY RESULT HIGHLIGHTS -- PHASE 4 DRILLING PROGRAM
Hole ID From To Vertical depth* Avg. grade** Width***
(m) (m) (m) (g/t Au) (m)
T18RC118 59 62 46 4.90 3
T18RC121 66 70 51 2.32 4
T18RC123 98 111 82 16.27 13
102 108 32.13 6
T18RC123 126 128 100 6.50 2
T18RC124 43 44 32 1.75 1
T18RC125 41 43 32 8.80 2
T18RC126 22 23 17 3.45 1
T18RD053 98.15 99.25 76 5.65 1.01
T18RD057 36.4 37.45 28 9.87 1.05
T18RD057 113.95 114.9 87 12.50 0.95
T18RD063 97.06 98.05 76 3.10 0.99
T18RD065 108.06 108.9 85 5.41 0.84
T18RC066 88 92 70 1.21 4
T18RC068 96 100 78 1.61 4
T18RD069 86.55 88 70 3.57 1.45
T18RD071 89.5 90.4 69 3.36 0.9
T18RD071 122.5 128 96 1.60 5.5
T18RD071 130.4 136.55 102 2.01 6.15
T18RD083 104.1 104.87 83 26.7 0.77
T18RD083 111.4 114.45 90 1.50 3.05
T18RD083 153.82 155.45 123 5.15 1.63
T18RC132 65 70 51 0.96 5
T18RC133 115 120 92 0.95 5
T18RC133 122 124 96 1.41 2
T18RC134 90 91 72 1.95 1
T18RC134 205 206 169 3.11 1
* Vertical depth of intersection below RL collar.
** Weighted average grade, composite based on a minimum grade of 0.3 g/t
Au with an internal dilution of 0.005 g/t Au over two metres and an edge
grade of 0.25 g/t Au permitted.
*** Downhole length (estimated between 70 to 90 per cent of true width
of mineralization).
No capping of higher values has been applied.
Quality assurance/quality control (QA/QC)
Analytical work for drill core and chips, geochemical samples, and rock chip samples is being carried out at the independent SGS Laboratories Ltd. in Bamako, Mali. The 50-gram fire assay with atomic absorption spectroscopy finish analytical services are accredited by SANAS and are carried out with a quality assurance protocol in line with ISO 17025:2005. Samples are stored at the corporation's field camps and put into sealed bags until delivered by a geologist on behalf of Algold to the laboratory in Bamako, Mali, where samples are prepared and analyzed. Until the end of 2016, samples were analyzed at ALS's facility in Loughrea, Ireland. Beginning in 2017, samples are analyzed at SGS Laboratory, Bamako. Samples are logged in the tracking system, weighed, dried and finely crushed to better than 70 per cent, passing a two-millimetre (Tyler nine mesh, U.S. standard No. 10) screen. A split of up to 1,000 grams is taken and pulverized to better than 85 per cent, passing a 75-micron (Tyler 200 mesh) screen, and a 50-gram split is analyzed by fire assay with an atomic absorption finish. Anomalous samples greater than five g/t Au are reanalyzed by 50 g fire assay with gravimetric finish. Selected samples may be reanalyzed using a one-kilogram cyanide leach (bottle roll) using LeachWell or the one kg screen fire assay method. Blanks, duplicates and certified reference material (standards) are inserted to monitor laboratory performance during the analysis.
This press release has been reviewed for accuracy and compliance under National Instrument 43-101 by Andre Ciesielski, DSc, PGeo, Algold Resources lead consulting geologist and qualified person, and Alastair Gallaugher, CGeo (chartered geologist and fellow of the Geological Society of London), BSc, geology, Algold's exploration manager in Mauritania, qualified persons as defined by NI 43-101 standards of disclosure for mineral projects. Mr. Ciesielski, Dsc, PGeo, has further approved the scientific and technical disclosure in the news release.
About Algold Resources Ltd.
Algold Resources is focused on the exploration and development of gold deposits in West Africa. The board of directors and management team are seasoned resource industry professionals with extensive experience in the exploration and development of world-class gold projects in Africa.
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