Teranga Gold Corporation ("Teranga" or the "Company") (TSX:TGZ)
(ASX:TGZ) is pleased to announce that early-stage drilling
continues to yield high-grade, near-surface oxide and deeper
fresh-rock gold mineralization at its Golden Hill property in
Burkina Faso, West Africa.
These most recent results comprise Phase 2 drill
results at Ma and Nahiri, two new discoveries reported by the
Company in April, as well as initial drilling results from two new
targets, Peksou and Jackhammer Hill. All four prospects are
located approximately 5 kilometres within a central point (see
Figure 1 in Appendix 1). In addition to these results, assays
are pending for 11 core holes from Ma and a total of 63 reverse
circulation holes; 20 at Ma, 20 at Nahiri and 23 from a variety of
targets in the Pourey-Peksou area.
Drilling returned excellent grades and widths at
Ma, Nahiri and Peksou, including:
- 9 m @ 4.04 g/t Au including 3 m @ 9.44 g/t Au (GHDD-040) at
Ma
- 34 m @ 6.08 g/t Au including 14 m @ 12.38 g/t Au (GHDD-026) at
Nahiri
- 36 m @ 2.32 g/t Au including 12 m @ 3.70 g/t Au (GHDD-003) at
Peksou
- 82 m @ 1.43 g/t Au including 11 m @ 2.55 g/t Au (GHDD-004) at
Peksou
“We are very excited with our discoveries and
extension of mineralization at Golden Hill within the highly
prospective Houndé belt. Our early stage drilling has yielded
excellent grades and widths displaying good continuity along trend
and mineralization remains open along strike at all four of our
priority prospects,” said David Mallo, Teranga’s Vice President,
Exploration. “We are expecting results from eleven core holes
and over 60 reverse circulation holes shortly which should further
enhance our resource footprint. With an aggressive drilling
program in place through the remainder of the year, we are
targeting an initial resource estimation for Golden Hill in the
coming quarters.”
The Golden Hill property is comprised of three
adjacent exploration permits covering 468km2 located in southwest
Burkina Faso in the central part of the Houndé Greenstone Belt.
This belt hosts a number of high-grade gold discoveries, including
the Siou, Yaramoko and Houndé deposits, the latter property being
contiguous with Golden Hill. To the south of Golden Hill is
another large land position where active exploration programs are
well underway.
Teranga, through its acquisition of Gryphon
Minerals Ltd., has an earn-in agreement on the Golden Hill property
with Boss Resources Limited (ASX:BOE) pursuant to which Teranga, as
the operator, can earn an 80 percent interest in the joint venture
upon delivery of a feasibility study and the payment of AUD2.5
million.
Ma: Phase 2 Highlights
At Ma, 30 core drill holes were completed during
the initial stage of the Phase 2 drill evaluation, testing the
primary northwest trending Ma structure, a secondary parallel,
northwest trending structure and north-south trending
cross-structures. Gold mineralization at the Ma prospect is
hosted in an extensive, favourable altered silicified and
brecciated shear system within a sequence of mafic volcanics
intruded by at least two distinct phases of granitic intrusive
bodies. To date, a minimum 1,300-metre extent along strike of
the primary Ma structure has been successfully intersected by core
drilling. An additional 500-metres along strike, immediately
to the east of the Ma core drilling, has recently been drill tested
by a series of reverse circulation profiles for which results are
pending (see Figure 2 in Appendix 1). Representative sections
from Ma are included (see Figures 3, 4 and 5 in Appendix 1). A
listing of the highlighted drilling results from the currently
available Phase 2 drill results, 19 holes, is included in Table
1. A complete listing of assays from all Ma drill holes
completed to dates are shown in an all-prospect combined results
Table 4 in Appendix 1.
The Phase 2 drill program has continued to
intersect favourable intersections over a minimum of 1,300-metre
strike extent drilled to date at Ma. Highlight results from
Table 1 include:
- 9 m @ 4.04 g/t Au including 3 m @ 9.44 g/t Au
(GHDD-040)
- 8 m @ 2.04 g/t Au including 3 m @ 4.02 g/t Au (GHDD-052)
- 11 m @ 1.80 g/t Au including 3 m @ 2.79 g/t Au (GHDD-033)
- 13 m @ 1.30 g/t Au including 7 m @ 1.95 g/t Au (GHDD-031)
- 4 m @ 3.38 g/t Au (GHDD-038)
The Phase 2 drill program (minimum 7,500 metres)
is scheduled to re-start at Ma prospect in early August to further
evaluate the currently outlined strike extent on regularly spaced
sections, extend drilling further along trend and continue testing
down dip depth extensions below the favourable gold mineralised
intervals for holes completed thus
far.
Nahiri: Phase 2 Highlights
At the Nahiri prospect, which is also contained
in a mafic volcanic host intruded by a set of sub-vertical
porphyritic mafic intrusives, seven core holes were completed to
both confirm earlier reverse circulation drill results and provide
better geological and structural orientation information at this
new discovery. Both infill and step-out drilling were utilized to
evaluate further the minimum 350-metre strike extent for the Nahiri
mineralisation (see Figure 6 in Appendix 1). Significant results
from these core holes are outlined in Table 2, while the complete
listing of the Nahiri results is included in Table 4 in Appendix
1.
Confirmed and refined earlier reverse circulation drill results
at Nahiri with favourable core intersections include:
- 34 m @ 6.08 g/t Au including 14 m @ 12.38 g/t Au
(GHDD-026)
- 10 m @ 1.89 g/t Au including 2 m @ 5.18 g/t Au (GHDD-021)
- 8 m @ 2.09 g/t Au including 1 m @ 12.14 g/t Au (GHDD-025)
The Phase 2 drill evaluation program (2,000
metres) will re-start at the Nahiri prospect in the fourth quarter
to test the strike extent and further assess the interpreted
geometry of the mineralised zones comprising the Nahiri
prospect.
“The positive drill results obtained from both
our initial and ongoing Phase 2 drill programs at Ma serve to
verify the along trend and initial down-dip continuity of grade and
width at this quickly advancing prospect,” stated Mr. Mallo.
“Although still at a very early stage of exploration, we recognize
considerable upside exists and we will continue to test the Ma
mineralised system further to depth and along trend. Similarly, the
latest drill results at Nahiri have confirmed and expanded on the
initial reverse circulation drill results, greatly improving our
geologic understanding of this new discovery.”
Peksou: Initial Drill Highlights
The Peksou prospect consists of a broadly
altered structural zone that crosses both mafic volcanics and
granitic intrusives displaying favourable grades and widths in both
host units. Generally, the widths of the mineralized system
increases within the more brittle granitic host and higher-grades
tend to be more concentrated within the more ductile mafic volcanic
host and at the geologic contact. Only five core holes were
drilled at Peksou during the initial drill phase to evaluate
further the minimum 600-metre strike extent for the Peksou
mineralisation. These holes were designed to validate a
series of historical reverse circulation holes that were analyzed
without proper quality assurance / quality control protocols which
appeared to have some down-hole assay smearing/contamination and
for which no reverse circulation chips remained for inspection.
Three of the holes were twins of these reverse circulation
holes and two holes were drilled in part down the interpreted trend
of mineralisation to obtain an overall sense of the appropriate
mineralised grade. Although one of these holes, GHDD-004, drilled
down the trend of mineralisation, it did enhance the geologic model
and has extended known mineralisation to greater depth beyond
historical drill holes (see Figures 7, 8 and 9 in Appendix 1).
A core drilling evaluation (minimum 2,500
metres) of the high priority Peksou prospect will resume in the
fourth quarter towards defining the along trend extensions of this
high-grade mineralised system and to further test the geologic
model at greater depths.
Favourable drill intersections from the initial validation drill
program at Peksou include:
- 36 m @ 2.32 g/t Au including 12 m @ 3.70 g/t Au (GHDD-003)
- 8 m @ 5.97 g/t Au including 3 m @ 13.46 g/t Au (GHDD-005)
- 6 m @ 20.33 g/t Au including 2 m @ 56.16 g/t Au (GHDD-006)
- 82 m @ 1.43 g/t Au including 11 m @ 2.55 g/t Au (GHDD-004) –
not true width (see Table 3 footnote)
A complete listing of the Peksou drill results
is in Table 3 and the all-prospects combined Table 4 in the
Appendix.
Jackhammer Hill: Initial Drill
Highlights
Drill evaluation is at an early stage for the
Jackhammer Hill prospect, a never before drilled, robust
gold-in-soil and auger geochemical anomaly measuring in excess of 2
kilometres of strike extent. Although an area of artisanal activity
along the entire known extent of the Jackhammer Hill anomaly, the
geology and hosting mineralization here is not well understood.
Jackhammer Hill appears to be a complex of altered shear structures
within a mixed sequence of volcanic and intrusive units similar to
that observed at Peksou. Two core holes were drilled at this
prospect primarily to obtain structural orientation and geological
information to guide future, more extensive drill campaigns. Drill
results for Jackhammer Hill included 5.2 metres @ 1.26 g/t Au
(GHDD-001) and 1 metre @ 1.48 g/t Au (GHDD-002) and are also shown
in Table 4 in Appendix 1.
Additional drilling (minimum 1,500 metres) is
planned at Jackhammer Hill to coincide with the current Phase 2
drill program at Ma, scheduled to begin in August.
Drilling Highlights
Table 1: Ma Prospect Drilling Highlights (Results for
eleven holes still pending)
|
Hole # |
Northing * |
Easting * |
Elevation |
Azimuth |
Dip |
EOH (m) |
Interval (m) |
Core length (m) |
Grade (g/t Au) |
|
GHDD-029 |
1237524 |
452149 |
397 |
025 |
-45 |
70 |
36-41 |
5 |
1.50 |
|
|
|
|
Including |
|
|
|
38-39 |
1 |
5.11 |
|
GHDD-030 |
1237351 |
452393 |
438 |
025 |
-45 |
83 |
30-31 |
1 |
3.15 |
|
|
|
|
|
|
|
|
33-39 |
6 |
1.40 |
|
|
|
|
Including |
|
|
|
36-38 |
2 |
2.24 |
|
|
|
|
|
|
|
|
64-65 |
1 |
2.93 |
|
GHDD-031 |
1237217 |
452656 |
409 |
025 |
-45 |
60 |
22-35 |
13 |
1.30 |
|
|
|
|
Including |
|
|
|
24-31 |
7 |
1.95 |
|
|
|
|
Including |
|
|
|
26-28 |
2 |
2.70 |
|
GHDD-033 |
1237188 |
452725 |
405 |
025 |
-45 |
95 |
50-52 |
2 |
1.99 |
|
|
|
|
|
|
|
|
56-67 |
11 |
1.80 |
|
|
|
|
Including |
|
|
|
58-61 |
3 |
2.79 |
|
GHDD-038 |
1237263 |
452441 |
426 |
025 |
-45 |
101 |
78-82 |
4 |
3.38 |
|
GHDD-040 |
1237344 |
452347 |
442 |
025 |
-45 |
83 |
64-73 |
9 |
4.04 |
|
|
|
|
Including |
|
|
|
67-70 |
3 |
9.44 |
|
|
|
|
|
|
|
|
79-81 |
2 |
1.63 |
|
GHDD-041 |
1237373 |
452315 |
439 |
025 |
-45 |
92 |
64-72 |
8 |
1.36 |
|
|
|
|
Including |
|
|
|
66-68 |
2 |
3.04 |
|
|
|
|
|
|
|
|
78-79 |
1 |
2.50 |
|
GHDD-044 |
1237472 |
452155 |
399 |
025 |
-45 |
122 |
72-74 |
2 |
3.13 |
|
|
|
|
|
|
|
|
95-102 |
7 |
1.31 |
|
|
|
|
Including |
|
|
|
96-99 |
3 |
2.18 |
|
|
|
|
|
|
|
|
111-112 |
1 |
2.51 |
|
GHDD-045 |
1237736 |
451839 |
382 |
025 |
-45 |
102 |
49-56 |
7 |
1.31 |
|
|
|
|
Including |
|
|
|
51-54 |
3 |
2.49 |
|
GHDD-050 |
1237650 |
452065 |
399 |
025 |
-45 |
71 |
36-38 |
2 |
1.58 |
|
|
|
|
|
|
|
|
50-52 |
2 |
3.98 |
|
GHDD-052 |
1237678 |
451876 |
385 |
025 |
-45 |
101 |
74-82 |
8 |
2.04 |
|
|
|
|
Including |
|
|
|
79-82 |
3 |
4.02 |
|
GHDD-056 |
1237202 |
452698 |
413 |
025 |
-45 |
60 |
27-33 |
6 |
1.05 |
|
|
|
|
Including |
|
|
|
31-32 |
1 |
1.73 |
|
GHDD-058 |
1237213 |
452567 |
415 |
025 |
-45 |
89 |
54-60 |
6 |
1.62 |
|
|
|
|
Including |
|
|
|
55-57 |
2 |
2.82 |
|
|
|
|
|
|
|
|
80-81 |
1 |
2.33 |
| * Intervals calculated with a 0.4 g/t Au cut-off and 2
metres maximum internal dilution. True widths are unknown. UTM's
are WGS84-30N |
Table 2: Nahiri Prospect Drilling
Highlights
|
Hole # |
Northing * |
Easting * |
Elevation |
Azimuth |
Dip |
EOH (m) |
Interval (m) |
Core length (m) |
Grade (g/t Au) |
|
GHDD-021 |
1233908 |
450542 |
367 |
065 |
-50 |
115 |
35-45 |
10 |
1.89 |
|
|
|
Including |
|
|
|
|
43-45 |
2 |
5.18 |
|
GHDD-025 |
1233853 |
450621 |
364 |
065 |
-50 |
78 |
33-41 |
8 |
2.09 |
|
|
|
Including |
|
|
|
|
33-34 |
1 |
12.14 |
|
GHDD-026** |
1233838 |
450587 |
366 |
065 |
-50 |
66 |
4-38** |
34** |
6.08 |
|
|
|
Including |
|
|
|
|
9-23** |
14** |
12.38 |
|
|
|
Including |
|
|
|
|
20-21 |
1 |
140.3 |
| * Intervals calculated with a 0.4 g/t Au cut-off and 2
metres maximum internal dilution. True widths are unknown. UTM's
are WGS84-30N |
| ** During the drilling of the mineralized interval of
4 to 38 metres in drill hole GHDD-026, there were four
metre-by-metre samples for which no recovery was reported: (11-12
m, 12-13 m, 15-16 m and 19-20 m). As such, both the 34-metre
and 14-metre intervals reported in the above Table include these
four metres without sample material available for analysis.
Each of these four individual samples have been given a nil value
in the reported interval calculations. |
Table 3: Peksou Prospect Drilling
Highlights
|
Hole # |
Northing * |
Easting * |
Elevation |
Azimuth |
Dip |
EOH (m) |
Interval (m) |
Core length (m) |
Grade (g/t Au) |
|
GHDD-003 |
1227814 |
452129 |
299 |
200 |
-50 |
83 |
27-63 |
36 |
2.32 |
|
|
|
|
Including |
|
|
|
47-59 |
12 |
3.70 |
|
|
|
|
Including |
|
|
|
58-59 |
1 |
11.19 |
|
GHDD-004** |
1227774 |
452167 |
298 |
200 |
-50 |
98 |
11-93 |
82** |
1.43 |
|
|
|
|
Including |
|
|
|
23-34 |
11 |
2.55 |
|
|
|
|
and |
|
|
|
89-93 |
4 |
5.76 |
|
GHDD-005 |
1227650 |
452364 |
297 |
020 |
-50 |
59 |
15-23 |
8 |
5.97 |
|
|
|
|
Including |
|
|
|
18-21 |
3 |
13.46 |
|
GHDD-006 |
1227598 |
452364 |
297 |
020 |
-50 |
55 |
26-32 |
6 |
20.33 |
|
|
|
|
Including |
|
|
|
26-28 |
2 |
56.16 |
|
|
|
|
Including |
|
|
|
27-28 |
1 |
96.08 |
|
GHDD-007 |
1227598 |
452401 |
297 |
020 |
-50 |
65 |
8-10 |
2 |
3.22 |
|
|
|
|
|
|
|
|
32-37 |
5 |
2.79 |
|
|
|
|
Including |
|
|
|
35-36 |
1 |
9.49 |
| * Intervals calculated with a 0.4 g/t Au cut-off and 2
metres maximum internal dilution. True widths are unknown. UTM's
are WGS84-30N |
| ** Drill hole GHDD-004 was designed as a test of the
continuity of mineralization identified by historic RC drilling and
to provide a continuous drill hole through the primary
mineralization hosting Granitic Intrusive and across the contact
with the Mafic Volcanics. As demonstrated in Figure 9, drill
hole GHDD-004 was drilled in large part down the trend of
mineralization and is an exaggerated width. However, this hole has
in part, confirmed the continuity of grade down trend, extended the
known depth of gold mineralization considerably deeper than
previous historic drilling and has greatly improved the confidence
in the geologic model of Peksou which will guide future
drilling. |
Competent Persons Statements
Teranga's exploration programs are being managed
by Peter Mann, FAusIMM. Mr. Mann is a full time employee of Teranga
and is not "independent" within the meaning of National Instrument
43-101. Mr. Mann has sufficient experience which is relevant to the
style of mineralisation and type of deposit under consideration and
to the activity which he is undertaking to qualify as a Competent
Person as defined in the 2012 Edition of the "Australasian Code for
Reporting of Exploration Results, Mineral Resources and Ore
Reserves" (the “JORC Code”). Mr. Mann is a "Qualified Person" under
National Instrument 43-101 Standards of Disclosure for Mineral
Projects. The technical information contained in this news release
relating exploration results are based on, and fairly represents,
information compiled by Mr. Mann. Mr. Mann has verified and
approved the data disclosed in this release, including the
sampling, analytical and test data underlying the information. The
RC and diamond core samples are assayed at the BIGGS Laboratory in
Ouagadougou, Burkina Faso. Mr. Mann has consented to the inclusion
in this news release of the matters based on his compiled
information in the form and context in which it appears herein.
Forward-Looking Statements
This press release contains certain statements
that constitute forward-looking information within the meaning of
applicable securities laws ("forward-looking statements"), which
reflects management's expectations regarding Teranga's future
growth, results of operations (including, without limitation,
future production and capital expenditures), performance (both
operational and financial) and business prospects (including the
timing and development of new deposits and the success of
exploration activities) and opportunities. Wherever possible, words
such as “objective to”, “likely”, “intend to”, “potential”,
“belief”, “believe”, “expects”, “estimates”, “plans”,
“anticipated”, “ability” and similar expressions or statements that
certain actions, events or results “should”, or "will" have been
used to identify such forward-looking information. Forward-looking
statements include, without limitation, all disclosure regarding
possible events, conditions or results of operations, future
economic conditions and anticipated courses of action. Although the
forward-looking statements contained in this press release reflect
management's current beliefs based upon information currently
available to management and based upon what management believes to
be reasonable assumptions, Teranga cannot be certain that actual
results will be consistent with such forward-looking statements.
Such forward-looking statements are based upon assumptions,
opinions and analysis made by management in light of its
experience, current conditions and its expectations of future
developments that management believe to be reasonable and relevant
but that may prove to be incorrect. These assumptions include,
among other things, the ability to obtain any requisite
governmental approvals, the accuracy of mineral reserve and mineral
resource estimates, gold price, exchange rates, fuel and energy
costs, future economic conditions, the ability to resettle the
community within anticipated timeline, anticipated future estimates
of free cash flow, and courses of action. Teranga cautions you not
to place undue reliance upon any such forward-looking
statements.
The risks and uncertainties that may affect
forward-looking statements include, among others: the inherent
risks involved in exploration and development of mineral
properties, including government approvals and permitting, changes
in economic conditions, changes in the worldwide price of gold and
other key inputs, changes in mine plans and other factors, such as
project execution delays, many of which are beyond the control of
Teranga, as well as other risks and uncertainties which are more
fully described in Teranga's Annual Information Form
dated March 30, 2017, and in other filings of Teranga with
securities and regulatory authorities which are available
at www.sedar.com. Teranga does not undertake any obligation to
update forward-looking statements should assumptions related to
these plans, estimates, projections, beliefs and opinions change.
Nothing in this document should be construed as either an offer to
sell or a solicitation to buy or sell Teranga securities. All
references to Teranga include its subsidiaries unless the context
requires otherwise.
About Teranga
Teranga is a multi-jurisdictional West African
gold company focused on production and development as well as the
exploration of more than 5,000km2 of land located on prospective
gold belts. Since its initial public offering in 2010,
Teranga has produced more than 1.2 million ounces of gold from its
operations in Senegal, which as of June 30, 2017 had a reserve base
of 2.7 million ounces of gold. Focused on diversification and
growth, the Company is advancing its Banfora development project
and conducting extensive exploration programs in three countries:
Burkina Faso, Senegal and Côte d’Ivoire. Teranga has a strong
balance sheet and the financial flexibility to grow its
business.
Steadfast in its commitment to set the benchmark
for responsible mining, Teranga operates in accordance with the
highest international standards and aims to act as a catalyst for
sustainable economic, environmental, and community development as
it strives to create value for all of its stakeholders.
Teranga is a member of the United Nations Global Compact and a
leading member of the multi-stakeholder group responsible for the
submission of the first Senegalese Extractive Industries
Transparency Initiative revenue report. The Company's
responsibility report, is available at
www.terangagold.com/responsibilityreport and is prepared in
accordance with its commitments under the United Nations Global
Compact and in alignment with the Global Reporting Initiative
guidelines.
APPENDIX 1
Table 4: DDH Results For All Prospects
(GHDD-001 to GHDD-058)
|
Hole # |
Northing * |
Easting * |
Elevation |
Azimuth |
Dip |
EOH (m) |
Interval (m) * |
Core length (m) * |
Grade (g/t Au) |
| MA |
|
GHDD-008 |
1237670 |
452122 |
408 |
055 |
-45 |
65 |
23.0-24.0 |
1.0 |
1.16 |
|
GHDD-009 |
1237602 |
452159 |
398 |
055 |
-45 |
80 |
31.0-32.0 |
1.0 |
2.05 |
|
|
|
|
|
|
|
|
58.0-61.0 |
3.0 |
1.60 |
|
GHDD-010 |
1237505 |
452175 |
399 |
039 |
-45 |
122 |
39.5 - 46.0 |
6.5 |
2.67 |
|
|
|
|
Including |
|
|
|
40.0 - 42.0 |
2.0 |
5.03 |
|
|
|
|
|
|
|
|
52.0 - 55.0 |
3.0 |
8.86 |
|
|
|
|
|
|
|
|
81.0 - 87.0 |
6.0 |
1.39 |
|
|
|
|
|
|
|
|
100.0 - 103.0 |
3.0 |
0.97 |
|
|
|
|
|
|
|
|
116.0 - 117.0 |
1.0 |
1.52 |
|
GHDD-011** |
1237408 |
452333 |
434 |
024 |
-45 |
62 |
29.2 - 40.0** |
9.8 |
1.92 |
|
|
|
|
Including |
|
|
|
29.2 - 34.5 |
5.3 |
2.62 |
|
|
|
|
Including |
|
|
|
32.8 - 34.5 |
1.7 |
6.06 |
|
GHDD-012 |
1237377 |
452363 |
440 |
020 |
-45 |
92 |
30.0 - 31.0 |
1.0 |
3.93 |
|
|
|
|
|
|
|
|
34.0 - 41.0 |
7.0 |
1.81 |
|
|
|
|
Including |
|
|
|
34.0 - 37.0 |
3.0 |
2.94 |
|
GHDD-013 |
1237342 |
452435 |
437 |
024 |
-45 |
88 |
23.0 - 26.0 |
3.0 |
1.22 |
|
|
|
|
|
|
|
|
79.0 - 80.0 |
1.0 |
1.51 |
|
GHDD-014 |
1237297 |
452457 |
428 |
024 |
-45 |
63 |
45.0 - 54.0 |
9.0 |
1.55 |
|
|
|
|
Including |
|
|
|
53.0 - 54.0 |
1.0 |
9.20 |
|
GHDD-015 |
1237231 |
452621 |
412 |
020 |
-45 |
66 |
20.9 - 28.8 |
7.9 |
2.71 |
|
|
|
|
Including |
|
|
|
26.2 - 28.8 |
3.6 |
5.24 |
|
|
|
|
|
|
|
|
56.0 - 58.0 |
2.0 |
1.77 |
|
GHDD-016 |
1236966 |
452873 |
375 |
040 |
-45 |
59 |
11.0 - 15.0 |
4.0 |
1.27 |
|
|
|
|
|
|
|
|
26.0 - 28.0 |
2.0 |
2.73 |
|
GHDD-017 |
1237758 |
451855 |
382 |
039 |
-45 |
111 |
32.0 - 37.2 |
5.2 |
5.16 |
|
|
|
|
Including |
|
|
|
34.0 - 37.2 |
3.2 |
7.38 |
|
GHDD-018 |
1237607 |
452249 |
406 |
020 |
-45 |
80 |
25.0 - 26.0 |
1.0 |
1.99 |
|
GHDD-019 |
1237675 |
452205 |
412 |
279 |
-45 |
80 |
|
NSR |
|
|
GHDD-020 |
1237687 |
452084 |
408 |
024 |
-45 |
80 |
23.6 - 28.5 |
4.9 |
3.64 |
|
|
|
|
Including |
|
|
|
25.9 - 27.9 |
2.0 |
7.60 |
|
GHDD-029 |
1237524 |
452149 |
397 |
025 |
-45 |
70 |
36.0-41.0 |
5.0 |
1.50 |
|
|
|
|
Including |
|
|
|
38.0-39.0 |
1.0 |
5.11 |
|
GHDD-030 |
1237351 |
452393 |
438 |
025 |
-45 |
83 |
30.0-31.0 |
1.0 |
3.15 |
|
|
|
|
|
|
|
|
33.0-39.0 |
6.0 |
1.40 |
|
|
|
|
Including |
|
|
|
36.0-38.0 |
2.0 |
2.24 |
|
|
|
|
|
|
|
|
64.0-65.0 |
1.0 |
2.93 |
|
GHDD-031 |
1237217 |
452656 |
409 |
025 |
-45 |
60 |
22.0-35.0 |
13.0 |
1.30 |
|
|
|
|
Including |
|
|
|
24.0-31.0 |
7.0 |
1.95 |
|
|
|
|
Including |
|
|
|
26.0-28.0 |
2.0 |
2.70 |
|
GHDD-032 |
1237148 |
452798 |
392 |
025 |
-45 |
94 |
44.0-46.0 |
2.0 |
1.01 |
|
GHDD-033 |
1237188 |
452725 |
405 |
025 |
-45 |
95 |
50.0-52.0 |
2.0 |
1.99 |
|
|
|
|
|
|
|
|
56.0-67.0 |
11.0 |
1.80 |
|
|
|
|
Including |
|
|
|
58.0-61.0 |
3.0 |
2.79 |
|
GHDD-034 |
1237178 |
452725 |
406 |
025 |
-45 |
80 |
36.0-37.0 |
1.0 |
1.34 |
|
GHDD-035 |
1237253 |
452544 |
416 |
025 |
-45 |
80 |
40.0-41.0 |
1.0 |
1.21 |
|
GHDD-036 |
1237251 |
452506 |
420 |
025 |
-45 |
80 |
|
NSR |
|
|
GHDD-037 |
1237287 |
452474 |
425 |
025 |
-45 |
100 |
RESULTS |
PENDING |
|
|
GHDD-038 |
1237263 |
452441 |
426 |
025 |
-45 |
101 |
78.0-82.0 |
4.0 |
3.38 |
|
GHDD-039 |
1237304 |
452417 |
431 |
025 |
-45 |
77 |
54.0-57.0 |
3.0 |
1.02 |
|
|
|
|
|
|
|
|
63.0-64.0 |
1.0 |
1.76 |
|
GHDD-040 |
1237344 |
452347 |
442 |
025 |
-45 |
83 |
64.0-73.0 |
9.0 |
4.04 |
|
|
|
|
Including |
|
|
|
67.0-70.0 |
3.0 |
9.44 |
|
|
|
|
|
|
|
|
79.0-81.0 |
2.0 |
1.63 |
|
GHDD-041 |
1237373 |
452315 |
439 |
025 |
-45 |
92 |
64.0-72.0 |
8.0 |
1.36 |
|
|
|
|
Including |
|
|
|
66.0-68.0 |
2.0 |
3.04 |
|
|
|
|
|
|
|
|
78.0-79.0 |
1.0 |
2.50 |
|
GHDD-042 |
1237442 |
452258 |
417 |
025 |
-45 |
92 |
RESULTS |
PENDING |
|
|
GHDD-043 |
1237482 |
452196 |
403 |
025 |
-45 |
104 |
RESULTS |
PENDING |
|
|
GHDD-044 |
1237472 |
452155 |
399 |
025 |
-45 |
122 |
72.0-74.0 |
2.0 |
3.13 |
|
|
|
|
|
|
|
|
95.0-102.0 |
7.0 |
1.31 |
|
|
|
|
Including |
|
|
|
96.0-99.0 |
3.0 |
2.18 |
|
|
|
|
|
|
|
|
111.0-112.0 |
1.0 |
2.51 |
|
GHDD-045 |
1237736 |
451839 |
382 |
025 |
-45 |
102 |
49.0-56.0 |
7.0 |
1.31 |
|
|
|
|
Including |
|
|
|
51.0-54.0 |
3.0 |
2.49 |
|
GHDD-046 |
1237714 |
451894 |
387 |
025 |
-45 |
104 |
RESULTS |
PENDING |
|
|
GHDD-047 |
1237561 |
452075 |
395 |
025 |
-45 |
80 |
RESULTS |
PENDING |
|
|
GHDD-048 |
1237573 |
452005 |
393 |
025 |
-45 |
103 |
RESULTS |
PENDING |
|
|
GHDD-049 |
1237632 |
451942 |
390 |
025 |
-45 |
104 |
RESULTS |
PENDING |
|
|
GHDD-050 |
1237650 |
452065 |
399 |
025 |
-45 |
71 |
36.0-38.0 |
2.0 |
1.58 |
|
|
|
|
|
|
|
|
50.0-52.0 |
2.0 |
3.98 |
|
GHDD-051 |
1237718 |
452013 |
402 |
025 |
-45 |
86 |
RESULTS |
PENDING |
|
|
GHDD-052 |
1237678 |
451876 |
385 |
025 |
-45 |
101 |
74.0-82.0 |
8.0 |
2.04 |
|
|
|
|
Including |
|
|
|
79.0-82.0 |
3.0 |
4.02 |
|
GHDD-053 |
1237697 |
451929 |
389 |
025 |
-45 |
80 |
RESULTS |
PENDING |
|
|
GHDD-054 |
1237179 |
452641 |
407 |
025 |
-45 |
80 |
44.0-45.0 |
1.0 |
1.20 |
|
|
|
|
|
|
|
|
59.0-60.0 |
1.0 |
1.95 |
|
GHDD-055 |
1237161 |
452680 |
411 |
025 |
-45 |
90 |
RESULTS |
PENDING |
|
|
GHDD-056 |
1237202 |
452698 |
413 |
025 |
-45 |
60 |
27.0-33.0 |
6.0 |
1.05 |
|
|
|
|
Including |
|
|
|
31.0-32.0 |
1.0 |
1.73 |
|
GHDD-057 |
1237245 |
452582 |
419 |
025 |
-45 |
60 |
RESULTS |
PENDING |
|
|
GHDD-058 |
1237213 |
452567 |
415 |
025 |
-45 |
89 |
54.0-60.0 |
6.0 |
1.62 |
|
|
|
|
Including |
|
|
|
55.0-57.0 |
2.0 |
2.82 |
|
|
|
|
|
|
|
|
80.0-81.0 |
1.0 |
2.33 |
|
NAHIRI |
|
|
|
|
|
|
|
|
|
|
GHDD-021 |
1233908 |
450542 |
367 |
065 |
-50 |
115 |
35.0-45.0 |
10.0 |
1.89 |
|
|
|
|
Including |
|
|
|
43.0-45.0 |
2.0 |
5.18 |
|
GHDD-022 |
1233926 |
450582 |
366 |
065 |
-60 |
50 |
|
NSR |
|
|
GHDD-023 |
1233793 |
450684 |
360 |
065 |
-50 |
92 |
21.0-23.0 |
2.0 |
2.14 |
|
|
|
|
|
|
|
|
25.0-26.0 |
1.0 |
1.07 |
|
|
|
|
|
|
|
|
27.0-28.0 |
1.0 |
1.62 |
|
|
|
|
|
|
|
|
29.0-30.0 |
1.0 |
1.06 |
|
|
|
|
|
|
|
|
46.0-47.0 |
1.0 |
1.44 |
|
GHDD-024 |
1233779 |
450653 |
360 |
065 |
-50 |
96 |
|
NSR |
|
|
GHDD-025 |
1233853 |
450621 |
364 |
065 |
-50 |
78 |
33.0-41.0 |
8.0 |
2.09 |
|
|
|
Including |
|
|
|
|
33.0-34.0 |
1.0 |
12.14 |
|
GHDD-026*** |
1233838 |
450587 |
366 |
065 |
-50 |
66 |
4.0-38.0*** |
34.0*** |
6.08 |
|
|
|
Including |
|
|
|
|
9.0-23.0*** |
14.0*** |
12.38 |
|
|
|
Including |
|
|
|
|
20.0-21.0 |
1.0 |
140.3 |
|
GHDD-027 |
1233726 |
450717 |
360 |
065 |
-50 |
71 |
|
NSR |
|
|
GHDD-028 |
1233741 |
450755 |
359 |
065 |
-50 |
23 |
|
LOST HOLE |
|
|
PEKSOU |
|
|
|
|
|
|
|
|
|
|
GHDD-003 |
1227814 |
452129 |
299 |
200 |
-50 |
83 |
27.0-63.0 |
36.0 |
2.32 |
|
|
|
|
Including |
|
|
|
47.0-59.0 |
12.0 |
3.70 |
|
|
|
|
Including |
|
|
|
58.0-59.0 |
1.0 |
11.19 |
|
GHDD-004**** |
1227774 |
452167 |
298 |
200 |
-50 |
98 |
11.0-93.0 |
82.0**** |
1.43 |
|
|
|
|
Including |
|
|
|
23.0-24.0 |
11.0 |
2.55 |
|
|
|
|
And |
|
|
|
89.0-93.0 |
4.0 |
5.76 |
|
GHDD-005 |
1227650 |
452364 |
297 |
020 |
-50 |
59 |
15.0-23.0 |
8.0 |
5.97 |
|
|
|
|
Including |
|
|
|
18.0-21.0 |
3.0 |
13.46 |
|
GHDD-006 |
1227598 |
452364 |
297 |
020 |
-50 |
55 |
26.0-32.0 |
6.0 |
20.33 |
|
|
|
|
Including |
|
|
|
26.0-28.0 |
2.0 |
56.16 |
|
|
|
|
Including |
|
|
|
27.0-28.0 |
1.0 |
96.08 |
|
GHDD-007 |
1227598 |
452401 |
297 |
020 |
-50 |
65 |
8.0-10.0 |
2.0 |
3.22 |
|
|
|
|
|
|
|
|
32.0-37.0 |
5.0 |
2.79 |
|
|
|
|
Including |
|
|
|
35.0-36.0 |
1.0 |
9.49 |
|
JACKHAMMER HILL |
|
|
|
|
|
|
|
|
|
|
GHDD-001 |
1229970 |
452784 |
325 |
131 |
-55 |
106 |
89.8-95.0 |
5.2 |
1.26 |
|
GHDD-002 |
1230021 |
452822 |
328 |
135 |
-55 |
125 |
3.0-4.0 |
1.0 |
1.48 |
| * Intervals calculated with a 0.4 g/t Au cut-off and 2
metres maximum internal dilution. Sampling used lithologic contacts
for the initial drill program, standard metre-metre sampling will
be utilized in future. True widths are unknown. UTM's are
WGS84-30N |
| ** Interval includes 2 metres of no recovery
(34.5-36.5) where hole intersected an artisanal opening |
| *** During the drilling of the mineralized interval of
4 to 38 metres in drill hole GHDD-026, there were four
metre-by-metre samples for which no recovery was reported: (11-12
m, 12-13m, 15-16 m and 19-20m). As such, both the 34-metre
and 14-metre intervals reported in the above Table include these
four metres without sample material available for analysis.
Each of these individual samples have been given a nil value in the
reported interval calculations. |
| **** Drill hole GHDD-004 was designed as a test of the
continuity of mineralization identified by historic RC drilling and
to provide a continuous drill hole through the primary
mineralization hosting Granitic Intrusive and across the contact
with the Mafic Volcanics. As demonstrated in Figure 9, drill
hole GHDD-004 was drilled in large part down the trend of
mineralization and is an exaggerated width. However, this hole has
in part, confirmed the continuity of grade down trend, extended the
known depth of gold mineralization considerably deeper than
previous historic drilling and has greatly improved the confidence
in the geologic model of Peksou which will guide future
drilling. |
Figure 1: Golden Hill Property - Location Plan
Map
http://www.terangagold.com//files/doc_news/2017/images/F1-Golden-Hill-Property-Location-Map.jpg
Figure 2: Ma Prospect Drill Plan
http://www.terangagold.com//files/doc_news/2017/images/F2-Ma-Prospect-Drill-Plan.jpg
Figure 3: Ma Prospect– GHDD033-DD015
Cross-Section
http://www.terangagold.com//files/doc_news/2017/images/F3-Ma-Prospect–-GHDD033-DD015-Cross-Section.jpg
Figure 4: Ma Prospect– GHDD011-041
Cross-Section
http://www.terangagold.com//files/doc_news/2017/images/F4-Ma-Prospect–-GHDD011-041-Cross-Section.jpg
Figure 5: Ma Prospect – GHDD011-046
Cross-Section
http://www.terangagold.com//files/doc_news/2017/images/F5-Ma-Prospect-–-GHDD011-046-Cross-Section.jpg
Figure 6: Nahiri Prospect – Drill Plan
http://www.terangagold.com//files/doc_news/2017/images/F6-Nahiri-Prospect-Drill-Plan.jpg
Figure 7: Peksou Prospect – Drill Plan
http://www.terangagold.com//files/doc_news/2017/images/F7-Peksou-Prospect-–-Drill-Plan.jpg
Figure 8: Peksou Prospect – GHDD003
Cross-Section
http://www.terangagold.com//files/doc_news/2017/images/F8-Peksou-Prospect-–-GHDD003-Cross-Section.jpg
Figure 9: Peksou Prospect– GHDD004
Cross-Section
http://www.terangagold.com//files/doc_news/2017/images/F9-Peksou-Prospect–-GHDD004-Cross-Section.jpg
Contact Information
Richard Young
President & CEO
T: +1 416-594-0000
E: ryoung@terangagold.com
Trish Moran
Head of Investor Relations
T: +1 416-564-4290
E: tmoran@terangagold.com