Saturday 10th December 2016

Resource Clips


Sub-Saharan substance

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The portion of the resource within five Whittle pit shells defined in the PEA came to:

  • an indicated category of 56.48 million tonnes averaging 1.07 g/t for 1.94 million ounces
  • an inferred category of 15.38 million tonnes averaging 1 g/t for 492,200 ounces.

The entire resource lies within 200 metres’ vertical depth.

True Gold has also been exploring a 13-kilometre-long target at its Liguidi property in southern Burkina. The RC drill program is scheduled to resume this month following four weeks of mapping and targeting.

Last December the company, still known as Riverstone, completed its acquisition of Blue Gold Mining TSXV:BGX. As a result Riverstone picked up some Blue Gold staff and had, at the time, about $18 million in the till.

Enviable it may be for geology, Karma’s northern location isn’t without security concerns. The Canadian government “advises against all travel to the administrative regions of Nord and Sahel, as well as the regions bordering Niger, due to the presence of armed groups and the threat of banditry and kidnapping.”

True Gold opened March 6 at $0.37, two cents above its previous close, then hit $0.405, dropped back to $0.37 and again hit $0.405 at the close.

In other recent Burkina news, Roxgold TSXV:ROG released a high-grade resource update boosting the 55 zone’s indicated numbers at its Yaramoko project. The March 4 announcement used a 3 g/t gold cutoff to show:

  • an indicated category of 1.34 million tonnes with an average capped grade of 15.7 g/t gold for 679,000 gold ounces
  • an inferred category of 751,000 tonnes with an average capped grade of 8.9 g/t for 216,000 ounces.

The 55 zone currently extends for 750 metres along strike and has been drilled to a vertical depth of 900 metres. Infill drilling continues between 400 and 750 metres’ vertical depth. Another resource update is scheduled to accompany a PEA in Q3. The Yaramoko project also has exploration drilling underway.

Roxgold opened March 4 at $0.50 and reached a high of $0.52 before slumping to a $0.43 close. Since then the stock’s high point was $0.51 on March 6 before closing the day on $0.475.

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