LONDON (Alliance News) - Alecto Minerals PLC Tuesday said it has achieved high grade mineralisation in tests at its Kossanto Gold Project in Mali.
The African-focused multi-commodity exploration and development company said trenching work over its Gourbassi East zone at the site found multiple structures including one with grades of up to 14 metres at 3.71 grams per tonne of gold and another with grades of up to 22 metres at 0.82 grams per tonne of gold.
The company said that soil geochemistry tests have revealed new targets for study and it now plans to undertake a Rotary Air Blast drilling test in November and a 100 kilometre ground magnetic survey using its own equipment.
Alecto also recently announced a USD3 million joint venture with Centamin PLC for two of its key sites in Ethiopia which saw its shares jump in mid September.
The company shares were up 4.9% to 1.65 pence in early trading Tuesday.
By Tom McIvor; tommcivor@alliancenews.com; @TomMcIvor
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