Firefinch Increases Global Mineral Resources at Morila

THE DRILL SERGEANT: with one day to go before the RIU Sydney Resources Roundup, Firefinch (ASX: FFX) announced an upgrade to the Mineral Resources for the satellite deposits within the company’s Morila gold project in Mali.

Firefinch completed the Mineral Resources estimates including all available drilling, including historical and over 30,000 metres of Firefinch drilling completed this year that involved 19,000m of drilling at N’Tiola, Viper, and Pit 5 and over 11,000m on the adjacent Massigui project, (principally Koting).

The updated Measured, Indicated and Inferred Mineral Resources for the satellite deposits are:

6.2 million tonnes at 1.09 grams per tonne gold for 218,000 ounces of contained gold.

This compares favourably to 2.5 million tonnes at 1.38g/t gold for 113,000 ounces that was released in the previous Mineral Resource announced in November 2020.

The latest update results in an increase in Morila’s Global Mineral Resource to:

50.5 million tonnes at 1.5g/t gold for 2.43 million ounces of contained gold.

“This is an excellent outcome,” Firefinch managing director Dr Michael Anderson said in the company’s ASX announcement.

“We aimed to have sufficient satellite feed available to support operations in the lead up to accessing ore from the Morila Super Pit, and we have delivered.

“Our investment in intensive drilling across the known deposits has paid off with this substantial increase in Satellite Resources.

“Importantly, we have a significant inventory of Measured and Indicated Resources on which to base our forthcoming Life of Mine Plan, the blueprint for the production ramp-up at Morila.

“Drilling is continuing and we are confident of adding further resources and reserves.”