THE BOURSE WHISPERER: Burkina Faso-focused gold exploration play Ampella Mining has announced an independently verified upgrade to its gold resource estimate for the Konkera prospect, located within the company’s Batie West gold project.
The company said the Mineral Resource has been prepared in accordance with the JORC Code and is an estimation of gold for the Konkera Resource covering a total strike length of 4.9 kilometres.
The resource area is made up of five interconnected prospects: Konkera East, Konkera Main, Konkera North, The Gap and Kouglaga.
At a 1.0 grams per tonne gold cut-off, the Indicated Resource component within the global resource comprises 20.8 million tonnes at 1.9 g/t gold for just less than 1.3 million ounces gold.
The Inferred Resource component comprises 21.9 million tonnes at 1.9 g/t gold for just over 1.3 million ounces gold.
Ampella claims the new Konkera Resource (at 1.0 g/t gold cut-off) now represents Burkina Faso’s largest single undeveloped gold resource.
The Indicated and Inferred Mineral Resource estimate for Konkera is based on drill results the company has received to date from its ongoing resource drill programs at Batie West.
“The three million ounce mark in three years is a tremendous achievement by the company and its dedicated exploration team who are the first to explore the Batie West permits which Ampella holds 100 per cent in its own right,” Ampella Mining managing director and CEO Dr Paul Kitto said in the company’s announcement to the Australian Securities Exchange.
“This resource milestone is a reward and testament to all who have supported the company from the outset which include our loyal shareholders, staff and the Board.
“At the Konkera prospect, gold mineralisation extends over 4.9 kilometres and remains open at depth and along strike.
“Potential exists for a large tonnage long-life open pit gold project with additional potential for underground development based on a higher grade component containing a combined Indicated and Inferred Resource of 13.9 million tonnes at 2.9 grams per tonne gold for 1.3 million ounces at a 2.0 grams per tonne gold cut-off.
“The Resource estimate will be immediately incorporated into the Pre-Feasibility Study mine plan scheduled for completion at the end of Quarter one 2012.”