Papillon Resources encounters further Fekola mineralisation
THE DRILL SERGEANT: Papillon Resources (ASX: PIR) has released the results of a further 102 holes from drilling completed at the company’s Fekola gold project, located in south western Mali, on the border with Senegal.
Fekola project – location map. Source: Company announcement
Papillon said the results have continued to highlight extensions of mineralisation outside of the project’s current Mineral Resource Estimate, which comprises 54.97 million tonnes averaging 2.38 grams per tonne gold for a contained 4.21 million ounces of gold at a lower cut-off grade of 1g/t gold.
Re-entry and extension of previously-drilled holes intersected extensive mineralisation including:
– 75 metres at 4.66g/t gold; and
– 18 metres at 2.81g/t gold.
Shallow, high grade mineralisation intersected along strike to the north of the current MRE area included:
– 4m at 12.34g/t gold; and
– 7m at 5.68g/t gold.
“The results are, once again, outstanding in terms of thickness and grade,” Papillon Resources managing director and CEO Mark Connelly said in the company’s announcement to the Australian Securities Exchange.
“Perhaps the most important aspect of the extended holes, from a mining perspective, is that the new observed data points of thick high-grade intercepts will provide additional information to the resource model in an area that was previously considered to be low-grade or barren.
“The thickness and grade of these intercepts again highlight the significant exploration upside at Fekola and further drilling has the potential to continue to deliver quality ounces for the project.”
Papillon Resources explained the results represented approximately 17,000m of diamond and RC drilling targeting down dip extensions of the Fekola deposit, as well as near surface mineralisation along strike to the north and south of the MRE area.
The results include drilling of six extension holes, which had previously been drilled and intersected zones of mineralisation but did not intersect the expected high grade shoot.
Following reinterpretation of the six holes Papillon considered them to demonstrate potential for a high-grade zone deeper than the end point of previously drilling.
The company decided to re-enter and conduct extension drilling on them and the re-drilling campaign encountered broad zones of high-grade mineralisation.
Shallow RC drilling carried out along strike to the north of the MRE also delivered encouraging results with zones of high-grade mineralisation encountered in the near surface lithology, including 4m at 12.34g/t gold, and 7m at 5.68g/t gold.