ALO.L Share News (ALO)

Alecto Minerals, an AIM-listed mineral exploration company focused on Africa, said Wednesday that it has completed a 1,505 metre drill programme on the Gourbassi East prospect.The site is one of three target areas identified at the group's 100%-owned 207 square kilometre Kossanto gold project in Western Mali.The drilling method used was low cost at less than $6 per metre. Mark Jones, Chiwef Executive of Alecto, said: "This RAB drill campaign was designed to extend our knowledge of the GRBE target, focussed on the prospective land outside of the initial resource area where 107,000 ounces of gold has been previously identified in accordance with the JORC code. "Judicious modification of the Alecto-owned drill equipment means that we have achieved an extremely cost-effective exploration tool and by undertaking campaigns of this kind at Kossanto, we can generate advanced drill targets prior to resource drilling at a cost as low as $5.60 per metre." The group said the RAB rig has been moved to Gourbassi West to begin testing of the gold mineralisation to the north of the target, where drilling has so far highlighted the potential for continuation. Jones added: "We look forward to receiving the results from this latest campaign, as well as key results from our Reverse Circulation and Diamond Drill campaign conducted across all of our three targets at Kossanto. In the meantime, we remain active with the RAB drill-rig now moving on [...] so that we can link up two known areas of mineralisation and further reveal its resource potential." NR