THE BOURSE WHISPERER: Melbourne based gold explorer Bassari Resources has reported an increase to the Mineral Resource for its Makabingui gold project in Senegal, West Africa.
The Makabingui project is located in the Kenieba Inlier, Eastern Senegal, where multimillion ounce gold discoveries are currently being mined and developed.
Bassari permits – Kenieba Inlier, Senegal. Source: Company announcement
Bassari has completed a new Global Mineral Resource estimate of 10.8 million tonnes at 1.6 grams per tonne gold for a total of 543,000 ounces of gold at 0.2 grams per tonne gold cut-off grade for the Makabingui project.
The company said this represents a 126 per cent increase in contained ounces.
Contained within the Global Mineral Resource is 6.1 Mt at 2.6 g/t gold for a total of 503,000 ounces of gold at a 0.5 g/t gold cut-off grade.
According to Bassari this is an increase of 110 per cent on the maiden resource the company announced in May of 3.3 Mt at 2.3 g/t gold for a total of 240,000 ounces of gold.
“The increased resource and the upside potential at Makabingui reinforce our view that the current gold resource is part of a much larger mineralised system,” Bassari Resources managing director Jozsef Patarica said in the comp[any’s announcement to the Australian Securities Exchange.
“Substantial increases to the resource are anticipated when drilling, both at depth and along strike, is undertaken.
“Our strategy to maximise resource growth and to expand prospectivity is well underway with this significant upgrade to the Makabingui resource and with drilling advancing on our high quality prospects on the Moura permit.”