SearchGold and Swala to Start Drilling in November 2009 on Arae-Gassel Burkina Faso
October 21 2009 - 9:00AM
Marketwired
SearchGold Resources Inc. (TSX VENTURE: RSG) (FRANKFURT: S1O) is
pleased to announce the start up of an important phase of work on
the 400 km2 Arae-Gassel Gold Property ("Arae -Gassel") located in
northern Burkina Faso, West Africa, which is developed in
partnership with Swala Resources plc ("Swala").
The program will focus on the advanced Kerboule-Yalema 5 km
target located in the northern extension of Avocet Mining plc's
Inata deposit(i) and on a series of high potential earlier stage
targets in parallel structures which have never been drilled.
1 - Kerboule-Yalema gold corridor
On Kerboule South, previous RC drilling has highlighted high
grade zones (24.48 g/t Au over 4 m and 18.28 g/t Au over 2 m) in a
potential open-pit exploitation context as demonstrated by wide
mineralized intervals such as 5.20 g/t Au over 38 m and 2.51 g/t Au
over 56 m. On Kerboule Main and Kerboule North, recent artisanal
work has uncovered high grade quartz veins with surface grades of
up to 95.33 g/t Au showing some depth extension as demonstrated by
previous RC drilling (10.72 g/t Au over 8 m and 16.00 g/t Au over 4
m).
The fall 2009 work program will target Kerboule South with 750 m
of RC drilling as well as some pitting followed by additional
metallurgical testing. On Kerboule Main and Kerboule North a series
of drill holes will target the high grade structures previously
mapped by SearchGold.
2 - High potential early stage targets
Several high potential earlier stage targets have been
recognized in what could be parallel structures to the main
Kerboule-Yalema gold corridor. On the Gassel-Haissa target a
previous chip sample yielded 15.70 g/t Au over 5 m. The fall 2009
work program is aimed at developing these targets and will involve
a progressive exploration approach culminating with up to 4,000 m
of RAB drilling.
- Regolith mapping to improve the understanding of previous
geochemical sampling results followed by compilation of all data to
further refine the targets.
- Ground follow-up of high potential targets with selected soil
and termite mound geochemical grids as well as outcrop mapping and
sampling.
- Geophysical surveys over the top ten prioritized target areas.
The work will consist of high-resolution ground magnetic surveys
with data-points at 10 metre intervals along 50 m spaced lines.
- Drilling over the top five prioritized target areas following
the execution of the work outlined above. The drilling will consist
in 50 m deep RAB holes sections overlapping across the targets for
a total of up to 4,000 metres of drilling to be defined as a
function of the first phase results.
The fall 2009 program is currently on going. The regolith and
compilation maps are finalized and the ground follow-up is being
initiated. The geophysical team has been mobilized and the drilling
contract has been signed.
Philippe Giaro, P. Geo., President and CEO of SearchGold
Resources Inc. and Qualified Person for SearchGold, has reviewed
and approved the content of this release.
(i)The Arae-Gassel property is directly adjoining on its
southern boundary Avocet Mining's Belahouro property, host of the
1.4 million ounce Inata gold deposit (5.2 million tonnes @ 2.3 g/t
Au for 378,480 ounces of Measured Resources and 19.8 million tonnes
@ 1.6 g/t Au for 1,018,450 ounces of Indicated Resources).
About SearchGold Resources Inc.
SearchGold Resources is a Canadian-based mining company
primarily focussed on gold deposits in Africa. Shares of SearchGold
Resources Inc. are listed for trading on the TSX Venture Exchange
as "RSG"; and the Frankfurt Stock Exchange as "S1O".
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts 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
http://www.searchgold.ca SearchGold Resources Inc. Denis Tremblay
Vice-President 1-514-866-4224 info@searchgold.ca
Searchgold Resources Inc. (TSXV:RSG)
Historical Stock Chart
From Jun 2024 to Jul 2024
Searchgold Resources Inc. (TSXV:RSG)
Historical Stock Chart
From Jul 2023 to Jul 2024