Two new deposits for Teranga + looks like low is in.
the "Company") is pleased to announce that advanced drilling continues to yield new discoveries and high-grade, near surface and deeper gold mineralization at the Ma prospect on its Golden Hill property in Burkina Faso, West Africa. Teranga has an earn-in agreement on the Golden Hill property with Boss Resources Limited pursuant to which Teranga, as the operator, can earn an 80% interest in the joint venture upon delivery of a feasibility study and the payment of AUD2.5 million.
“Golden Hill is shaping up to be a very important component of our growth plan,” stated Richard Young, President and Chief Executive Officer. “With these positive results at Ma together with the recent addition of Jackhammer Hill, as well as, Peksou and Nahiri, we now have four centrally-located, advanced exploration prospects and we are rapidly advancing this project to evaluate the potential scale and grades leading towards an initial resource in 2018.”
Each of Golden Hill’s four prospects are located approximately 5 kilometres from a central point (Figure 1 in Appendix 1), which aligns well with Teranga’s expertise of mining multiple deposits utilizing a centralized plant facility.
Advanced drilling at the Ma prospect, one of four drilled to date at Golden Hill, continues to return excellent grades and widths of gold mineralization near surface and to depth. Recent drilling highlights at Ma include:
15 m @ 4.22 g/t Au including 7 m @ 7.89 g/t Au including 2 m @ 17.6 g/t Au (GHDD-067)
16 m @ 3.20 g/t Au including 1 m @ 15.7 g/t Au, and 3 m @ 6.14 g/t Au (GHDD-078)
6 m @ 5.79 g/t Au and 17 m @ 3.45 g/t Au including 6 m @ 6.32 g/t Au (GHDD-080)
The program has also identified a parallel structure to Ma known as Ma North. This new extension returned good grades and widths from a limited initial step-out drill program, including 3 metres @ 4.42 g/t Au and 7 metres @ 1.75 g/t Au. The Ma area appears to be developing into a broad regional structural complex of mineralized zones.
“The recent results from Ma continue to demonstrate excellent continuity and correlation for both the BZ-1 and BZ-2 mineralized zones along the entire extent along strike drilled to date at the Ma prospect,” stated David Mallo, Vice President, Exploration. “The positive drill results at Ma serve to confirm the along trend and down-dip continuity of grade and width from surface exposure to down-dip depths now approaching 125 metres at this quickly advancing prospect. Our initial step-out drilling at Ma North has successfully intersected similar Ma style alteration, brecciation and mineralization, further expanding the overall Ma target across a broader structural complex.”
Added Mr. Mallo, “We will continue to test the Ma structural complex and the Jackhammer Hill prospect, as well as, our Nahiri and Peksou prospects, through the remainder of the year and into next year.”
Jackhammer Hill Prospect Highlights
15 m @ 5.72 g/t Au including 4 m @ 16.37 g/t Au including 1 m @ 42.1 g/t Au, and 9 m @ 4.13 g/t Au including 3 m @ 10.63 g/t Au including 1 m @ 25.3 g/t Au (GHDD-104)
14 m @ 110.6 g/t Au including 5 m @ 306.7 g/t Au including 1 m @ 1,499 g/t Au (GHDD-111) (uncut)
10 m @ 3.44 g/t Au including 1 m @ 19.0 g/t Au (GHDD-103)
“Jackhammer Hill is our fourth prospect and newest drilling discovery at Golden Hill. Our most recent drilling here includes some very positive intersections, including core intervals of 15 metres averaging 5.72 grams per tonne of gold and 9 metres averaging 4.13 grams per tonne of gold in the same hole, GHDD-104. This demonstrates that multiple mineralized zones exist throughout Jackhammer Hill,” said David Mallo, Teranga’s Vice President, Exploration. “As well, Jackhammer Hill is where our highest grade interval drilled to date at Golden Hill occurs – 14 metres averaging 110.6 grams per tonne, including one-metre displaying abundant visible gold which grades 1,499 grams per tonne of gold in GHDD-111. In total, we have successfully drilled 600 metres of strike length of a surface anomaly of more than one kilometre extent.”
Continued Mr. Mallo, “Although we are still at an early stage, we recognize considerable upside for continued exploration success as we extend our drilling evaluation program at Jackhammer Hill both along trend beyond our initial target and to depth where the mineralized structures remain open to further expansion.”
The Golden Hill property is comprised of three adjacent exploration permits covering 470 km2 located in southwest Burkina Faso in the central part of the Houndé Greenstone Belt. This belt hosts a number of high-grade gold discoveries, including the Siou, Yaramoko and Houndé deposits, the latter property being contiguous with Golden Hill. To the south of Golden Hill is another large land position where active exploration programs are well underway.
AI
