LONDON (Alliance News) - Alecto Minerals PLC Friday said the results from a channel sampling programme undertaken at the Massakama target of its flagship Kossanto Gold Project in western Mali has shown potential to host an extensive gold-bearing system.
Alecto said 24 channel samples were taken from two large artisanal pits at the prospect. Samples from the two pits produced average grades of 1.43 grams per tonne of gold and 1.89 grams per tonne, respectively.
The company has now started a shallow drill programme of 38 holes to test the continuity of the gold mineralisation.
"With the northern pit returning an average grade of 1.43 grams per tonne of gold over 26 metres and the southern pit returning an average grade of 1.89 grams per tonne of gold over 20 metres, there is a strong potential that we are working within a significant gold system," Chief Mark Jones said in a statement.
"This, coupled with our recently announced positive scout drilling results and geological observations made at Massakama, means that our confidence continues to strengthen that we are successfully narrowing in on the areas of significant prospectivity at Massakama," he added.
Alecto Minerals shares were quoted up 1.7% at 0.915 pence Friday morning.
By Anthony Tshibangu; anthonytshibangu@alliancenews.com; @AnthonyAllNews
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