High-Grade Gold Mineralization Extended at
Depth and Along Strike at Tijirit in Mauritania
MONTREAL, Sept. 12, 2017 /CNW Telbec/ - ALGOLD
RESOURCES LTD. (TSXV: ALG) ("Algold" or the "Corporation")
today announced additional assay results from the diamond ("DDH")
and reverse-circulation ("RC") drilling carried out on its Tijirit
property ("Tijirit") in Mauritania
as part of the Corporation's Phase III 25,000-meter drilling
campaign. The results, which include 6.84 g/t Au over 15 meters,
continue to demonstrate the high-grade nature and the continuity of
the mineralization, both near surface and at depth, over the
3.5-kilometer strike length of the Eleonore zone (Figure 1).
Highlights*
- RC T17RC107 (Eleonore South) – 6.84 g/t Au over 15 m, including
24.00 g/t Au over 4 m, approximately 40 meters below the surface
and 2.16 g/t Au over 8 m, including 6.04 g/t Au over 2 m,
approximately 100 meters below the surface (Figure 2).
- RC T17RC122 (Eleonore South – new sub-zone) – 8.16 g/t Au over
5 m, including 28.00 g/t Au over 1 m, approximately 50 meters below
the surface (Figure 2).
- DDH T17RD139 (Eleonore South) – 21.53 g/t Au over 1.8 m at
approximately 115 meters below the surface (Figure 2).
- DDH T17RD002 (Eleonore South) – 10.24 g/t Au over 3.7 m at
approximately 130 meters below the surface (Figure 2).
- DDH T17DD016 (Eleonore North) – 14.62 g/t Au over 3.3 m at
approximately 85 meters below the surface (Figure 3) (Photo
1).
- RC T17RC109 (Eleonore North) – 5.76 g/t Au over 2 m at
approximately 95 meters vertical depth (Figure 3). This hole
extends the Eleonore North zone by 100 meters.
- RC T17RC115 (Eleonore Central) – 2.70 g/t Au over 7 m,
including 8.06 g/t Au over 2 m, at approximately 35 meters below
the surface (Figure 4).
*All intersections reported are down-hole lengths.
Eleonore South
Hole T16RC107 (section E8300), located approximately 50 meters
south of T17RC045 (14.1 g/t Au over 10 m, referenced in Algold's
press release dated April 25, 2017)
returned two significant near-surface mineralized intervals. Hole
T16RC107 was orientated at a more optimal bearing than T17RC045 and
served to confirm the north to north-northeast strike direction of
the mineralization. With surface outcrop masked by a transported
overburden, the intersection of these gold-bearing structures
confirms the continuity of high-grade mineralization associated
with kilometer-long shear zones at Eleonore South zone.
Sixty meters south of hole T17RC107, diamond tail hole T17RD002
(section 8200) was drilled to test for potential plunging
high-grade structures. The hole successfully intersected the
vertically dipping mineralized zone identified in hole T17RC003 and
although the result was not significant, it does suggest that
higher-grade, wider mineralized plunges are possible.
Mineralization was also confirmed 50 meters north of hole T17RC045
in hole T17RC112, (Section E8400), which remains open along strike
to the north.
Five hundred meters south of hole T17RC045, diamond tail hole
T17RD139 (section E7880) intersected two gold-rich zones, on the
same structure, 116 meters and 140 meters below the surface. Screen
fire assays confirmed the presence of coarse gold (>105µm) as
shown in Photo 2 below.
Hole T17RC122 represents a new discovery and the most easterly
mineralized area intersected at Eleonore South. The area displays
an assemblage similar to other Eleonore mineralization identified
to date with quartz, biotite and pyrite associated with local
shearing. The structure is believed to be dipping near
vertically. Results of recent drilling carried out to test the
strike and down-dip extensions of the structure are still
pending.
Eleonore North
In DDH T17DD016, (section 9840) a steeply-dipping visible
gold-bearing quartz vein was intersected at 109 meters. The
gold was finely disseminated along the selvages of a
chlorite-biotite-pyrrhotite alteration zone. The core drill hole
confirms the vertical dip of the structure and is the deepest
intersection on this vein to date, at 85 meters below the surface.
The vein remains open at depth.
Hole T17RC109 (section 10600) intersected a high-grade quartz
vein on the shallow-dipping northern most vein, currently
identified in the main Eleonore area. This hole confirms that
the mineralization is still open at depth, with this intercept
being 50 meters down dip of the mineralization intersected in hole
T17RC059.
Drilling Program
The Phase III 20,000-meter RC and 5,000-meter DDH drilling
program was initiated on February 1,
2017 with the objective to further delineate the high-grade
gold deposit. The Phase III drilling program concluded on
August 25, 2017 with 182 RC holes, 18
DDH and 30 RC pre-collar/diamond tails completed for a total of
24,205 meters of RC and 5,930 meters of diamond drilling.
As of September 1, 2017, Algold
had collected 16,188 samples (excluding QA/QC) as part of the Phase
III drilling program, with 9,522 samples having been sent to the
SGS Bamako facilities for analysis. Algold is in receipt of 8,975
assay results, with 7,213 samples still pending (excluding
QA/QC).
In order to reduce future processing time for assay results
analysis, a Mobile Site Preparation Unit (MSPU) managed by SGS has
been installed on the Tijirit property. The MSPU laboratory became
operational in late August and is expected to increase efficiency
and reduce lag time in the preparation and shipment of assay
samples, thereby reducing overall turnaround time for assay
results.
Table 1: Assay
Results - Phase III Drilling Program
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Hole
ID
|
Prospect
|
East
UTM
|
North
UTM
|
From
(m)
|
To
(m)
|
Vertical
Depth*
(m)
|
Average
Grade**
(g/t
Au)
|
Width***
(m)
|
Section
Line
|
Comments
|
T17DD016
|
Eleonore N
|
9588.53
|
9845.13
|
109.00
|
112.30
|
84
|
14.62
|
3.30
|
9840
|
|
T17RC109
|
Eleonore N
|
979.52
|
1246.28
|
123.00
|
125.00
|
95
|
5.76
|
2.00
|
10600
|
|
T17RC110
|
Eleonore N
|
9761.70
|
9841.18
|
113.00
|
115.00
|
88
|
3.37
|
2.00
|
9840
|
|
T17RC113
|
Eleonore C
|
9766.47
|
8798.93
|
135.00
|
138.00
|
102
|
1.94
|
3.00
|
8790
|
|
T17RC115
|
Eleonore C
|
9751.04
|
8921.66
|
45.00
|
52.00
|
37
|
2.70
|
7.00
|
8920
|
|
Including
|
47.00
|
49.00
|
|
8.06
|
2.00
|
|
T17RC116
|
Eleonore C
|
9923.85
|
8998.34
|
130.00
|
133.00
|
102
|
2.24
|
3.00
|
9000
|
|
T17RC117
|
Eleonore C
|
9778.86
|
8995.46
|
42.00
|
51.00
|
35
|
1.37
|
9.00
|
9000
|
|
T17RD081
|
Eleonore C
|
9908.74
|
9160.51
|
38.00
|
44.00
|
32
|
1.79
|
6.00
|
9160
|
Shallow (45 deg.)
dipping mineralization,
|
60.50
|
62.00
|
47
|
4.99
|
1.50
|
sample with
VG
|
T17RC107
|
Eleonore S
|
9933.87
|
8322.60
|
42.00
|
57.00
|
37
|
6.84
|
15.00
|
E8320
|
50 m south of
T17RC045 (14 g/t Au of 10 m)
|
Including
|
42.00
|
46.00
|
|
24.00
|
4.00
|
|
|
|
117.00
|
125.00
|
95
|
2.16
|
8.00
|
|
Including
|
118.00
|
120.00
|
|
6.04
|
2.00
|
|
T17RC122
|
Eleonore S
|
10211.05
|
7850.56
|
62.00
|
67.00
|
50
|
8.16
|
5.00
|
E7350
|
New vein
discovery
|
Including
|
63.00
|
64.00
|
|
28.00
|
1.00
|
|
T17RC126
|
Eleonore S
|
9935.77
|
8299.70
|
38.00
|
42.00
|
31
|
1.88
|
4.00
|
8300
|
New vein
discovery
|
T17RD002
|
Eleonore S
|
9823.55
|
8201.96
|
168.00
|
171.70
|
131
|
10.24
|
3.70
|
8200
|
|
|
|
Including
|
168.5
|
170.00
|
|
9.90
|
1.50
|
|
T17RD044
|
Eleonore S
|
9797.84
|
8298.59
|
155.75
|
159.75
|
122
|
2.81
|
4.00
|
8300
|
|
186.60
|
189.65
|
145
|
5.81
|
3.05
|
145 m below surface -
50 m below T17RC107.
|
Including
|
188.00
|
188.55
|
|
28.30
|
0.55
|
VG-bearing
zone
|
T17RD139
|
Eleonore S
|
10004.54
|
7869.99
|
148.75
|
150.55
|
116
|
21.53
|
1.80
|
E7880
|
Incl. 64 g/t Au over
0.6 m
|
182.00
|
184.4
|
143
|
5.14
|
2.40
|
|
Including
|
183.00
|
184.4
|
|
7.99
|
1.40
|
|
*Vertical depth of
intersection below RL collar.
|
**Weighted average
grade, composite based on a minimum grade of 0.3 g/t Au with
an internal dilution of 0.005 g/t Au over 2 m and an
edge grade of 0.25 g/t Au permitted.
|
***Down-hole length
(believed to be close to true width).
|
No capping of higher
values has been applied.
|
Note: Complete assay
results are available on Algold's website
(www.algold.com).
|
Detailed geological descriptions of all mineralized zones can be
found on Algold's website (www.algold.com) and on SEDAR
(www.sedar.com) in the report entitled "Algold 43-101 Technical
Report: Tijirit Maiden Mineral Resources Estimates for the Tijirit
Gold Project in Mauritania".
Quality Assurance / Quality Control (QA/QC)
Analytical
work for drill core and chips, geochemical samples and rock chip
samples is carried out at the independent SGS Laboratories Ltd. in
Bamako, Mali. The 50 g fire
assay with ASS finish analytical services are accredited by SANAS
and are carried out with a quality assurance protocol in line with
ISO 17025:2005. Samples are stored at the Corporation's field camps
and put into sealed bags until delivered by a geologist on behalf
of Algold to the laboratory in Bamako,
Mali, where samples are prepared and analyzed. Until the end
of 2016, samples were analyzed at ALS's facility in Loughrea,
Ireland. Beginning in 2017,
samples are analyzed at SGS Laboratory, Bamako. Samples are logged in the tracking
system, weighed, dried and finely crushed to better than 70%,
passing a 2 mm (Tyler 9 mesh, US Std. No.10) screen. A split of up
to 1,000 g is taken and pulverized to better than 85%, passing a
75-micron (Tyler 200 mesh) screen, and a 50-gram split is analyzed
by fire assay with an AA finish. Anomalous samples greater
than 5 g/t Au are re-analyzed by 50 g fire assay with gravimetric
finish. Selected samples may be re-analyzed using a 1 kg
cyanide leach (Bottle Roll) using "LeachWELL" or the 1 kg screen
fire assay method. Blanks, duplicates and certified reference
material (standards) are inserted to monitor laboratory performance
during the analysis.
This press release has been reviewed for accuracy and compliance
under National Instrument 43-101 by André Ciesielski, DSc., PGeo.,
Algold Resources Ltd Lead Consulting Geologist and Qualified
Person, and Alastair Gallaugher,
C.Geo. (Chartered Geologist and Fellow of the Geological Society of
London), BSc. Geology, Algold's
Exploration Manager in Mauritania,
Qualified Persons as defined by NI 43−101 Standards of
Disclosure for Mineral Projects. André Ciesielski has further
approved the scientific and technical disclosure in the news
release.
ABOUT ALGOLD
Algold Resources Ltd is focused on the
exploration and development of gold deposits in West Africa. The board of directors and
management team are seasoned resource industry professionals with
extensive experience in the exploration and development of
world-class gold projects in Africa.
FORWARD-LOOKING
INFORMATION
This press release contains and refers
to forward-looking information based on current expectations. All
other statements other than statements of historical fact included
in this release are forward-looking statements (or forward-looking
information). The Corporation's plans involve various estimates and
assumptions and its business is subject to various risks and
uncertainties. For more details on these estimates, assumptions,
risks and uncertainties, see the Corporation's most recent
Management Discussion and Analysis on file with the Canadian
provincial securities regulatory authorities on SEDAR at
www.sedar.com. These forward-looking statements are made as of the
date hereof and there can be no assurance that such statements will
prove to be accurate. Forward-looking statements are
subject to significant risks and uncertainties, and actual results
and future events could differ materially from those anticipated in
such statements. Accordingly, readers should not place undue
reliance on forward-looking statements that are included herein,
except in accordance with applicable securities laws.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
SOURCE Algold Resources Ltd.