SearchGold Drills 13.68 g/t Au Over 12.50 m on Zone A And 7.70 g/t Au Over 7.50 m Downdip From Zone A, on Bakoudou, Gabon
June 10 2008 - 9:00AM
Marketwired
MONTREAL, QUEBEC (FRANKFURT: S1O) is pleased to provide an
update on its Bakoudou-Magnima Gold Project located in Gabon,
Africa.
Diamond drilling is on-going and in April 2008 the drill hole
data base had been upgraded to 319 BQ-NQ diameter core holes. The
recent additional holes were drilled near surface, between 0 and 50
m, and were aimed at providing a better definition of Zone A to
increase the proportion of measured resources in the final resource
calculation. Some of the highlights of this in-fill drilling
include:
- 4.16 g/t Au over 10.75 m from 8.25 m to 19.00 m in hole BAPG-30
- 4.46 g/t Au over 8.40 m from 30.30 m to 38.70 m in hole BAPG-33
- 4.77 g/t Au over 9.95 m from 39.50 m to 49.45 m in hole BAPG-36
- 6.66 g/t Au over 21.80 m from 7.60 m to 29.40 m in hole BAPG-41
- 7.87 g/t Au over 7.27 m from 22.63 m to 29.90 m in hole BAPG-42
- 3.44 g/t Au over 12.00 m from 38.00 m to 50.00 m in hole BAPG-43
- 13.68 g/t Au over 12.50 m from 40.50 m to 53.00 m in hole BAPG-53
- 3.24 g/t Au over 14.10 m from 35.90 m to 50.00 m in hole BAPG-122bis
- 3.36 g/t Au over 11.00 m from 29.25 m to 40.25 m in hole BAPG-140
Additionally, on going peripheral drilling was executed to
identify mineralized extensions, and notably down-dip extensions of
Zone A. During this phase, two important drill intersections were
obtained on sections 100 S and 150 S:
- 7.70 g/t Au over 7.50 m from 152.00 m to 159.50 m
- 1.43 g/t Au over 20.10 m from 110.00 m to 130.10 m
These intersections are significant as they prove that the
deposit remains open at depth and demonstrate the continuity in
width (20.10 m in the case of hole BH-02) and grade (7.70 g/t Au in
the case of hole BA08-C9).
See attached figures:
http://media3.marketwire.com/docs/Bakoudou100S.pdf and
http://media3.marketwire.com/docs/Bakoudoua150S.pdf
The complete results are presented below.
Section 150S
Hole BH-02, initially drilled for hydrogeological testing,
intersected three parallel zones about 75 m down dip from the last
know intersection on section 150 S (Hole BA06-33).
---------------------------------------------------------------------------
Drill hole Mineralization
---------------------------------------------------------------------------
number depth azimut dip section from to interval grade
(m) (m) (m) (m) (g/t Au)
---------------------------------------------------------------------------
---------------------------------------------------------------------------
BH-02 180.00 vertical 90 degrees 150S 110.00 130.10 20.10 1.43
139.10 145.20 6.10 0.59
167.10 169.10 2.00 7.90
---------------------------------------------------------------------------
Section 100S
Hole BA08-C9, drilled to verify the down dip extension of Zone
A, intersected one rich zone approximately 90 m down dip from the
last know intersection on section 100 S (Hole BA06-22).
---------------------------------------------------------------------------
Drill hole Mineralization
---------------------------------------------------------------------------
number depth azimut dip section from to interval grade
(m) (m) (m) (m)(g/t Au)
---------------------------------------------------------------------------
---------------------------------------------------------------------------
BA08-C9 191.50 227 70 100S 152.00 159.50 7.50 7.70
degrees degrees
---------------------------------------------------------------------------
Feasibility study
Work has progressed well since the last update of March 3rd 2008
and the study is in the final stages of validation.
No cut-off grade was applied in the calculation of the above
intersections as an exact cut-off grade will be determined from
final project statistical evaluations. Moreover, even though the
drilling is performed at high angle to the mineralized structures,
the above intersections do not represent perfect true widths. Such
true widths will be computed and integrated in the final stages of
the project modeling.
Individual samples weighting 3kg on average are taken from sawn
half core at +/- 1 meter intervals in the mineralized zones with
consideration of the geological contacts. A rigorous QA/QC program
involves the random inclusion of 10% standards, duplicates and
blanks at the sample collection and preparation stage. The samples
are flown to the ALS laboratory in Mali for analysis by fire assay
on 50g pulp samples. The sample preparation procedure involves the
crushing of the entire 3kg sample followed by quartering to obtain
a representative 500g sample which is entirely pulverized and out
of which a 50g sample is isolated for analysis by fire assay.
Philippe Giaro, P.Geol., President and CEO of SearchGold
Resources Inc. and Qualified Person for SearchGold, has reviewed
and approved the content of this release.
In July 2005, SearchGold signed a strategic $4,200,000 joint
venture agreement on the Bakoudou-Magnima Gold Project with
Managem, a successful, established African-based mining company
(www.managem-ona.com). Through its subsidiaries, Managem operates 6
mines in Morocco and was also involved in the development of two
gold mines in West Africa.
About SearchGold Resources Inc.
SearchGold Resources is a Canadian-based mining exploration
company whose primary mission is to target, explore and develop
gold deposits in Africa. The expansion strategy executed in 2006
has set the stage for the Company's development in 2007 through
increased activity on the advanced projects, a new acquisition and
the segmentation of its activities to unlock value for its
shareholders. SearchGold's diamond assets were re-organized along
with Mano River Resources Inc., to create an integrated diamond
company called Stellar Diamonds Limited of which SearchGold holds
2.7 million shares. SearchGold's Canadian gold assets were also
re-organized through the creation of Golden Share Mining
Corporation (TSX VENTURE: GSH), a dynamic junior exploration
company focused on gold exploration in Canada.
If you would like to receive press releases via e-mail please
contact: info@searchgold.ca
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Contacts: SearchGold Resources Inc. Philippe Giaro President
& CEO 32-473-52-30-29 phgiaro@skynet.be SearchGold Resources
Inc. Denis Tremblay Vice-President 514-866-4224 info@searchgold.ca
CHF Investor Relations Alison Tullis Account Manager 416-868-1079
x233 alison@chfir.com
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