LONDON (Alliance News) - Alecto Minerals PLC Wednesday said it has completed a 1,505 metre Rotary Air Blast drilling programme at the Gourbassi East prospect in the Kossanto Gold Project, Mali.
The mining exploration company focused on West and East Africa said 541 composite samples from the drilling have been sent to SGS Laboratories in Mali for analysis as the company hopes the area shows parallel structures to its main resource zone, which has a pre-existing maiden resource of 107,000 ounces of gold.
The company said it achieved hole depths of 51 metres from the drilling which showed the site's low cost and effective scout drilling capability with a drilling cost of below USD6 per metre.
Alecto said the drill rig has now been deployed to Gourbassi West to commence testing gold mineralisation in the north of the target, where drilling to date has shown the opportunity for extensions.
The company said earlier this month that it received positive assay results for eight of 11 Reverse Circulation holes completed at the Gourbassi West target in its drilling activities, including: 14 metres at 4.08 grams per tonne of gold; 17 metres at 1.17 grams per tonne of gold; and 5 metres at 1.96 grams per tonne of gold.
Alecto Minerals shares were down 11% to 1.05 pence Wednesday.
By Tom McIvor; tommcivor@alliancenews.com; @TomMcIvor1
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