Bassari increases Makabingui estimate beyond 1M ounce mark

THE DRILL SERGEANT: Bassari Resources (ASX: BSR) has taken the Indicated and Inferred Mineral Resource estimate at the company’s Makabingui gold project in Senegal West Africa to over the 1 million ounce mark.

The company has announced a JORC Code-compliant Indicated and Inferred Mineral Resource estimate 11.9 million tonnes at 2.6 grams per tonne gold, at a cut-off grade of 0.5g/t gold for 1 million ounces.

Bassaris said the new estimate was its main objective for 2012 and represents a 100 per cent increase to the Mineral Resource estimate it had reported in December 2011.

 

Makabingui gold project plan. Source: Company announcement

 

“Increasing the gold resource at Makabingui to one million ounces marks a significant milestone for Bassari,” Bassari Resources managing director Jozsef Patarica said in the company’s announcement to the Australian Securities Exchange.

“We’ve delivered our 2012 objective and importantly, established foundations for further resource growth and development of the Makabingui project through 2013 and beyond.”

Patarica said the recently-completed step out drilling program had enabled Bassari to improve the geological model for Makabingui.

It also delivered an increase in gold grades for both the Indicated and Inferred Resource categories.

“The increase in grade on the previous model reinforces our confidence in the growth potential of the project,” Patarica explained.

“We will continue building our gold inventory by targeting extensions of mineralisation within the Makabingui project area as well as advancing our high-priority prospects across our other permits to develop a multi-million ounce gold district.”