Timbuktu Gold set to drill in Mali

Drilling at Timbuktu Gold’s (TBT-A) Sitakili gold concession in Mali is set to begin, while a meeting to change the company’s name has been postponed.

The Calgary-based junior has contracted Boart Longyear of North Bay, Ont., to conduct 3,000 metres of diamond drilling to a maximum depth of 300 metres.

Meanwhile, a shareholders’ meeting to authorize a name change has been postponed to February or March.

Timbuktu resumed trading in early December 1996, seven months after being halted following allegations that drill results from the Sitakili property had been tampered with. Independent analysis of spectacular first drill results from Sitakili showed the drill core had been “salted” with gold.

Trading was suspended when reports of past activities of company president Oliver Reese began to circulate. Reese, who has a record of securities infractions dating to 1965, later resigned and surrendered for cancellation 9.8 million shares.

Print


 

Republish this article

Be the first to comment on "Timbuktu Gold set to drill in Mali"

Leave a comment

Your email address will not be published.


*


By continuing to browse you agree to our use of cookies. To learn more, click more information

Dear user, please be aware that we use cookies to help users navigate our website content and to help us understand how we can improve the user experience. If you have ideas for how we can improve our services, we’d love to hear from you. Click here to email us. By continuing to browse you agree to our use of cookies. Please see our Privacy & Cookie Usage Policy to learn more.

Close