R/€ = 16.34 Change: 0.01
R/$ = 14.24 Change: 0.02
Au 1232.28 $/oz Change: -0.22
Pt 833.50 $/oz Change: 5.25
 
 
R/€ = 16.34 Change: 0.01
R/$ = 14.24 Change: 0.02
Au 1232.28 $/oz Change: -0.22
Pt 833.50 $/oz Change: 5.25
 
 
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Avesoro on track to convert 1Moz from resources to reserves

10th October 2018 BY: Marleny Arnoldi
Creamer Media Online Writer

TSX- and Aim-listed Avesoro Resources has reported positive drill results from its Ouaré and Gassore West deposits, and the discovery of two mineralised vein systems that are 1.5 km east of the company’s Youga gold processing plant, in Burkina Faso.

Avesoro aims to convert 1-million ounces of existing mineral resources into mineral reserves from the current year’s 171 000 m diamond drilling programme.

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Of this target, Ouaré represents 20%, Youga 10% and Balogo, also in Burkina Faso, 6%. Its projects in Liberia, Ndablama and New Liberty, represent 40% and 24%, respectively.

In Liberia, drilling has included the start of a 10 000 m programme at Silver Hills, which is 13 km northeast of New Liberty, and some additional drilling at Ndablama, which is 45 km from New Liberty, following the completion of the 16 200 m drilling programme at Ndablama in July.

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 At Ouaré, 34 500 m of the 42 000 m planned infill drill programme has been completed, with results including 4.15 m at 10.8 g/t gold from 81 m, 16.15 m at 3.94 g/t gold from 63 m, and 8.15 m at 6.51 g/t gold from 45 m.

At Gassore West, a 28 500 m drilling programme has been completed and defined three mineralised zones totalling 2 km in strike length. Results include 2.5 m at 5.3 g/t gold from 71 m, 3.5 m at 5.5 g/t gold from 64 m, and 3.6 m at 6 g/t gold from 46 m.

Two new vein systems have also been discovered by 20 000 m of trenching, about 1 km south of Gassore and directly east of Youga’s historical main pit and waste dump.

At Ndablama, 22 holes totalling 4 200 m have been completed, targeting a high-grade shoot. This is in addition to the original 16 200 m drilling programme that was completed in July.

At Silver Hills, 24 holes totalling 3 333 m have been completed, which includes a result of 4.5 m at 3.72 g/t gold from 45.5 m.

“Our 2018 drilling programme continues to deliver excellent results in both Burkina Faso and Liberia. Assay results from Ouaré included a significant number of drill holes with widths and grades exceeding expectations.

“This bodes well for the grade and gold content of the Ouaré updated resource and reserve statement, which is targeted for early in the first quarter of 2019,” said Avesoro CEO Serhan Umurhan.

He added that the company remained on track to complete its 171 000 m drilling programme during this year, with a total 81 400 m completed in Burkina Faso and 35 600 m completed in Liberia. 

EDITED BY: Chanel de Bruyn Creamer Media Senior Deputy Editor Online
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