Avesoro Moves Drill Rigs From Ndablama To The Silver Hills Area

LONDON (Alliance News) - West Africa focused gold mining company Avesoro Resources Inc said ...

Alliance News 12 July, 2018 | 1:46PM
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LONDON (Alliance News) - West Africa focused gold mining company Avesoro Resources Inc said Thursday it has migrated its drill rigs from Ndablama to the Silver Hills area.

Avesoro completed its 16,200 metre infill drilling at Ndablama - 45 kilometres north-east of its New Liberty gold mine - and moved its rigs to Silver Hills, where drilling will recommence on Sunday.

The existing indicated resource at Ndablama is 5.6 million tonnes with a grade of 1.9 grams per tone of gold. Ndablama has an inferred resource of 6.9 million tonnes with a grade of 2.1 grams per tonne of gold.

In addition to infilling, Avesoro also tested the down-dip extension of its mineralisation including one hole that intercepted 23 metres of gold at 2.3 grams per tonne of gold from 234 metres. This included 7 metres at 6.0 grams per tonne of gold from 244 metres.

Avesoro said these results indicate "significant gold potential at depth".

"Ndablama is located 45km from the New Liberty processing plant and has the potential to be an important source of feed material to extend mine life. Importantly, Ndablama is located within the Bea Mountain Mineral Development Agreement which simplifies the permitting process for its development," said Avesoro Chief Executive Officer Serhan Umurhan.

Shares in Avesoro Resources were trading down 0.4% at 264.01 pence on Thursday.

By Anna Farley; annafarley@alliancenews.com

Copyright 2018 Alliance News Limited. All Rights Reserved.

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Security Name Price Change (%) Morningstar
Rating
Avesoro Resources Inc 180.50 GBX 0.00 -
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