Papillon Resources drills further Fekola confidence

THE DRILL SERGEANT: Papillon Resources (ASX: PIR) has received the results from drilling carried out towards the end of 2013 at the company’s Fekola project in south western Mali.

During the last two months of 2013, Papillon completed 26 reverse circulation (RC) holes focusing on near surface extensions of previously identified mineralised intersections and testing an interpreted extension of the Fekola Corridor.

The best results received in the near surface lithology included:

9 metres at 2.34 grams per tonne gold; and

4m at 4.11g/t gold.

Papillon indicated both intersections were located close to the planned Fekola pit on a mineralised trend less than two kilometres due west of the current 5.15 million ounce Fekola Mineral Resource Estimate.

 

Clockwise from top left. a) RC drilling at Fekola project, b) RC
sample splitting and sample preparation, c) geotechnical logging and
skiils training of staff on getotechnical diamond hole logging, d)
diamond core farm Fekola camp. Source: Company announcement

 

The company explained its 2014 exploration program aims to grow the resource base around Fekola with the main focus being to delineate new shallow open pittable resources.

“Although already of meaningful size, the Fekola project and broader Fekola Corridor still have exceptional growth potential,” Papillon Resources managing director and CEO Mark Connelly said in the company’s announcement to the Australian Securities Exchange.

“These results continue to show the extensive gold distribution throughout the project area and have the potential to immediately add low cost ounces to the project.

“In addition, the Fekola deposit, which currently hosts 5.15 million ounces of gold in a single, large, open pit, is still open at depth and has the potential to offer further extensions – including underground extensions with deeper drilling – to the current 12 year mine life of the project.”

Papillion is confident of being granted a Mining Licence over the Fekola project and has adjusted the focus of its drilling contractors during January and February 2014 to concentrate on completing a number of geotechnical holes within the planned pit area, along with sterilisation drilling under nearby planned infrastructure.

Once the geotechnical and sterilisation programs have been completed it will shift back along the Fekola Corridor to test priority targets.

Email: info@papillonresources.com

Website: www.papillonresources.com