THE BOURSE WHISPERER: Birimian Gold (ASX: BGS) has entered into an agreement with Randgold Resources (LSE: RRS), under which Randgold is to provide Birimian with a comprehensive exploration database for areas within the company’s Massigui gold project in southern Mali.
Birimian said access to, what it considers to be a high-quality database, will enable it to advance exploration within the Massigui Project more rapidly and in a cost effective manner.
The company said the data will enhance its capacity to discover additional gold mineralisation on the project, to which end it has commenced a comprehensive review of the new data with the aim of defining additional targets for drill testing in the near term.
The access to the Randgold database for Birimian follows on the heels of the company’s recent announcement of a new gold discovery at the Ntiola prospect.
Massigui gold project. Permit areas and geology. The gold
prospective Morila Formation is shown in green. Source: Company
“The historical database information combined with the company’s data from recent drilling will significantly augment the planning of the next drill program at Ntiola,” Birimian Gold said in its ASX announcement.
“The high-quality datasets include all historical geological, geochemical and geophysical surveys from within the Massigui project.
“The exploration database has been provided to Birimian at no financial cost, representing a significant saving to the company in both time and money.
“In return for the database Randgold will retain a First Right of Refusal to joint venture with, or acquire from Birimian, on commercial terms, any assets within the Massigui project area that the Company may elect to divest.”
Birimian indicated it is in discussions with Randgold concerning further collaborative opportunities with the aim of realising further value for both companies.