Bassari hits impressive gold at Makabingui

THE DRILL SERGEANT: Melbourne based mineral exploration company Bassari Resources has returned a fairly impressive gold intercept from its Makabingui gold project in Senegal, West Africa.

Bassari hit the intercept within Zone 3 down dip of the current indicated 240,000 ounce resource, which remains open at depth.

Makabingui is one of 13 prospects Bassari has identified along 80 kilometres of strike within the Birimian Gold Belt in Senegal.

“While we have previously reported strong gold intercepts from Makabingui, this intercept is the highest we have seen,” Bassari Resources managing director Jozsef Patarica said in the company’s announcement to the Australian Securities Exchange.

“We still have assays pending within the same zone further to the north which are all located outside the current reported indicated gold resource.

“The drilling program at Makabingui is continuing to grow the resource.”

Previously reported significant assay results from combined RC and DD at the Makabingui project include:

– 7 metres at 19.2 grams per tonne gold from 48 metres;

– 5 metres at 31.7 g/t gold from 51 metres;

– 4 metres at 18.1 g/t gold from 44 metres;

– 3 metres at 13.9 g/t gold from 19 metres;

– 8 metres at 9.7 g/t gold from 46 metres; and

– 3.6 metres at 9.4 g/t gold from 60.3 metres.

“Outside the resource area our drilling program is well underway to unlock the larger potential around the Sambarabougou Granite,” Patarica said.

“We are following up a number of targets where we have seen encouraging soil geochemistry and RAB drilling intercepts. This work is currently focused to the north of the granite.”

Bassari said its broader exploration focus is aimed at unlocking larger potential around the Sambarabougou Granite.

The company currently has a 2,000 metre RAB drilling program underway at Makabingui North where soil geochemistry and early RAB intercepts are being followed up.

It also has a 5,000 metre RAB drilling program in progress on the northern side of the granite at what it describes as a potential “Makabingui Lookalike” that displays signs of the same geological setting as the proven resource area.

Bassari is well paced financially following a recent share placement and underwritten Rights Issue, which raised $6.3 million before costs.

The company expects these funds will provide capital to continue the resource drilling program at prospects focused around the Sambarabougou Granite.

It should also enables Bassari to expand drilling on both the Moura and Bounsankoba permits where it aims to advance prospects with a combination of both RC/DD and RAB drilling over the next nine months.