Saturday 3rd December 2016

Resource Clips



Goldrush reports Burkina Faso Gold Assays up to 6.92 g/t over 8.9m

Resource Clips - essential news on junior gold mining and junior silver miningGoldrush Resources Ltd TSXV:GOD announced results from its Ronguen gold deposit in Burkina Faso, West Africa. Assays include

6.9 g/t gold over 8.9 metres (including 16.3 g/t over 1 metre)
1 g/t over 3 metres
1.6 g/t over 2.6 metres
6.15 g/t over 0.9 metres
1.05 g/t over 12.5 metres
1.3 g/t over 14.2 metres
1.12 g/t over 6.2 metres
1.9 g/t over 12.9 metres

VP Corporate Development Don Willoughby tells ResourceClips.com, “The assay results are good. We got another 6.92 grams over almost 9 metres. There are two significant things here. One, this is in the South zone, and this is the best result we’ve had there yet, which seems to indicate that we’re opening up a new area. We’ve had gold indications there before, but they’ve been low grade, and it’s one of those track-it-down type of things. So that’s very encouraging. Two, it seems to be a new style of mineralization. Driff Cameron, our VP of Exploration, is very excited about this. While its early stage, the reality is there is more gold, and it seems to be a new zone, which is really nice.

Burkina Faso is a great place to work. Arguably, it would be one of the best of the 50-odd countries in Africa to be working – Don Willoughby

“The assay results coming out of the labs have been very slow in Ouagadougou,” Willoughby notes, “and this has set our updated resource estimate back. We had been informed by SRK Consulting that we would have our resource estimate by the end of the first quarter, but it appears that it’s been moved to April.”

As to the timeline for a preliminary economic assessment, he reports, “This is a gradual process. We’re gathering information, as are we for the environmental study. But we’re at early stages with those.”

Willoughby updates Goldrush’s other project of focus, the Pompoi project, which is contiguous with Roxgold’s TSXV:ROG Yaromoko property. “It’s early stages,” he says. “We’ve gone in and done some soil sampling and done some mapping and rock sampling and that sort of thing. Then we went in and did some RAB drilling. It’s a methodical process to try and identify the kinds of structures they’re seeing over at [Yaramoko's] Bagassi Central area and prepare drill targets for the next drill program. By being just 2.9 kilometres away from that drilling we would postulate that that’s where we should be looking as well.

“Burkina Faso is a great place to work,” Willoughby continues. “Arguably, it would be one of the best of the 50-odd countries in Africa to be working. They are very mining supportive; the country is very poor and really hasn’t the potential for any kind of national prosperity outside of the mining industry. There have been six new mines opened up there in the last four and a half years. Already you’re starting to see some of the evidence of royalties pouring through into the government coffers. You’re seeing that the potholes in the roads are getting filled up, there seem to be more jobs, etc.

“Ronguen is 90 kilometres north of Ouagadougou, the capital, and it’s just two kilometres by dirt road off the paved highway. There is a wet season in July and August in that part of Burkina Faso, but it’s relatively moderate. Two of the last three years we’ve worked right through the wet season.”

Willoughby concludes, “The project is going very, very well. We continue to find more gold and we’re upgrading the resource. Parts of it will be upgraded to indicated and even some measured with this next resource estimate. And it seems to be expanding somewhat. We’re very encouraged, particularly with this new mineralization in the South zone. If this is, in fact, one of the stacked-lens situations like Riverstone Resources TSXV:RVS seems to have run into, then it just opens up a new zone that has the same potential as the existing one.”

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Contact:
Don Willoughby
VP Corporate Development
604.602.9973

by Ted Niles

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