Algold Resources Ltd. (TSXV:ALG) (“Algold” or the “Corporation”) today announced assay results from a trenching and pitting program carried out during the first and second quarters of 2018 at the high-grade Salma Vein System and Eleonore zone located at the Corporation’s Tijirit project in Mauritania.
The Salma Vein, discovered in mid-2017 (reference Algold’s press release dated June 7, 2017), is located approximately five kilometers northeast of the Eleonore zone. The Salma Vein System has been traced over a ten-kilometer-long mineralized structure situated at the prospective granite-greenstone contact zone.
“The ongoing trenching and sampling program at Salma and Eleonore continues to intersect noteworthy results and highlight the significant potential of the Salma area to rapidly add substantial high-grade gold mineralization at the Tijirit Project,” said Algold’s Executive Vice-President, Exploration, Francois Auclair.
Highlights
Salma
- 85.0 g/t Au over 0.40 meters true width from channel T18TRS103, a new area 750 meters north of drill hole T18RC028
- 13.21 g/t Au over 1.40 meters true width from channel T18TRS96, next to grab sample A10417, which returned 127.0 g/t Au and reverse-circulation (“RC”) drill hole T18RC028, which returned 1.26 g/t Au over 3 meters. (Figure 1)
Eleonore
- 14.56 g/t Au over 1.65 meters true width from channel T18TR001, a steep dipping vein located between the Eleonore South and the Eleonore Central zones, not previously tested by drilling.
- 4.67 g/t Au over 4.06 meters true width from channel T18TRM03, a quartz-rich shear zone in the eastern part of Eleonore South, between two drill fences and to the northwest of current drilling. (Figure 2)
The channel sampling and trenching carried out in 2018 successfully identified new gold-bearing structures within the mining licence area. At Salma, 93 samples were collected from 26 channels covering 56.3 meters, in addition to the samples collected in 2017. At Eleonore, 1,506 samples were collected from 14 new trenches excavated for a total length of 2,964 meters. The Company is in receipt of the results for 776 samples to date.
Salma
Channels at Salma were excavated over a one-kilometer strike-length, where several gently dipping veins were observed. While the vein dips are shallower than elsewhere at Salma, the structural setting is similar, the mineralization is associated with localized shearing. Exploration work is ongoing along the Salma granite contact and 1.6 kilometers further to the south where another granite-greenstone contact has been identified.
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/7eb27a7a-3e82-46ef-9afa-65564b2ad85e
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/1d8e009a-0bf9-4963-9877-8834caff62ae
Sampling at Salma was carried out predominantly in pits excavated by artisanal miners. The samples were generally taken at depths varying from 3 to 5 meters in trenches (or pits). (Reference Algold’s press release dated December 6, 2017). (Reference Photo 1)
Throughout Salma the mineralization trends in a north to northeast direction and is associated with local shearing. Gold was found within quartz veins ranging in width from 0.2 to 3.25 meters, located close to the contact of an intrusive granite pluton and the mafic volcanics. Locally, veins pinch and swell along the structure. Individual veins have been mapped for over 500 meters, with parallel veins often recorded. The southern end of Salma has been termed Eleonore East. Various orientations were observed with flat-lying, shallow dipping, discordant and shear-associated veins recorded. Gold has been found in all of these structures.
Eleonore Trenching
The mechanical trenching at Eleonore was initiated in mid-April to assist in the geological and structural mapping of the Eleonore zone. The trenching program, along with the current drilling program, will be used to prepare an updated Mineral Resource Estimate, which the Company expects to complete in Q4 2018. A hydraulics excavator was used to dig the trenches, which are generally 1.3 meters wide and 2 to 3.5 meters deep. Lengths vary from 48 meters to 334 meters. (Reference Photo 2.)
Table 1: Salma Channel Sampling Program Assay Results
| Hole ID | Prospect | East UTM |
North UTM |
From (m) |
To (m) |
Vertical Depth* (m) |
Average Grade** (g/t Au) |
Width*** (m) |
| T18TRS93 | Salma | 486355 | 2255590 | 0.0 | 0.4 | 2 | 2.74 | 0.40 |
| T18TRS94 | Salma | 486386 | 2255539 | 0.0 | 1.15 | 2 | 6.41 | 1.15 |
| T18TRS95 | Salma | 486321 | 2255465 | 0.0 | 0.5 | 2 | 8.35 | 0.50 |
| T18TRS96 | Salma | 486401 | 2255511 | 0.0 | 1.4 | 2 | 13.21 | 1.40 |
| T18TRS99 | Salma | 486512 | 2255770 | 0.0 | 3.07 | 2 | 0.70 | 3.07 |
| T18TRS101 | Salma | 486411 | 2255851 | 0.2 | 0.7 | 2 | 12.50 | 0.50 |
| T18TRS103 | Salma | 486334 | 2256257 | 0.0 | 0.4 | 2 | 85.00 | 0.40 |
Table 2: Eleonore Channel Sampling Program Assay Results
| Hole ID | Prospect | East UTM |
North UTM |
From (m) |
To (m) |
Vertical Depth* (m) |
Average Grade** (g/t Au) |
Width*** (m) |
| T18TRM03 | Eleonore S | 481978 | 2249001 | 0.0 | 4.06 | 2 | 4.67 | 4.06 |
| T18TRM05 | Eleonore S | 481974 | 2249482 | 0.5 | 2.10 | 2 | 1.19 | 1.60 |
| T18TRM01 | Eleonore S | 481935 | 2248347 | 0.0 | 1.96 | 2 | 1.14 | 1.96 |
| T18TR001 | Eleonore S | 481891 | 2249284 | 262.0 | 263.65 | 2 | 14.56 | 1.65 |
| T18TR005 | Eleonore S | 482024 | 2248948 | 166.0 | 168.0 | 2 | 1.13 | 2.00 |
*Vertical depth of intersection below surface.
**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 two meters and an edge grade of 0.25 g/t Au permitted.
***True width
No capping of higher values has been applied.
Complete assay results are available on Algold’s website (www.algold.com).
Salma Vein System and Eleonore Sampling Procedure
Channels were sampled in the weathered rock honouring geological contacts. Material was collected using hammer and chisel with care taken to avoid sampling bias. For trenches T18TR001 to T18TR014 at Eleonore, a composite sample was collected from continuous channels taken horizontally along the north-facing wall at the bottom of the trench (Reference Photo 2). Once collected, samples were dried, crushed, homogenized and split with 250-gram samples sent to SGS Bamako for 50-gram fire-assay analysis. Prior to sample preparation, quality control (“QC”) samples were inserted, as per Algold’s sampling procedure, to monitor the preparation and assay laboratory’s procedures.
New Prospect Jemelein Rock Chip Sampling
Promising initial results have also been received from the Jemelein Prospect, located on the Company’s exploration licence 1117B2, located east of Algold’s mining licence. The area occurs along the southern contact of the Salma Granite and represents a large shear zone trending to the north east. Auriferous mineralization occurs in quartz veins/stockworks with associated pyrite within a felsic schistose unit with results returning up to 3.34 g/t Au. A mineralized banded iron formation grading 3.7 g/t Au has also been identified within the main shear corridor. Aeolian sand covers much of the prospective area, restricting the use of surface geochemical methods for exploration.
Drilling
Drilling commenced in early May 2018 with two diamond core and two RC drill rigs currently in operation at Eleonore. The primary objective is to upgrade current inferred resources to the indicated category. The Company is expecting to receive the …read more
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