Semafo finds gold in Burkina Faso

Initial drilling by Semafo (SMF-T) at its Nyaf prospect in Burkina Faso has confirmed the presence of significant gold mineralization identified in 1999 through extensive trenching.

The prospect is on Semafo’s 75%-owned Mana property, 200 km west of the capital, Ouagadougou.

The drilling consisted of a 37-hole, 3,200-metre reverse-circulation (RC) campaign, followed by two diamond-drill holes. Semafo drilled the holes to a maximum depth of 75 metres below surface along the mineralized structure’s 1.7-km known strike length. The holes were collared at 100-metre intervals with a minimum of two intersections per vertical section.

Highlights from the RC phase include:

– 8 metres (from 39 metres) grading 13.54 grams gold per tonne in hole 36;

– 3 metres (from 45 metres) of 12.29 grams gold in hole 37;

– 4 metres (from 59 metres) of 13.78 grams gold in hole 32;

– 9 metres (from 29 metres) of 4.99 grams gold in hole 23;

– 12 metres (from 81 metres) of 10.3 grams gold in hole 8; and

– 9 metres (from 38 metres) of 6.26 grams gold in hole 15.

The diamond drill holes returned 4 metres (from 55 metres) of 6.89 grams gold in hole 1 and 4 metres (from 25 metres) of 22.7 grams gold in hole 4.

Semafo notes that the structure pinches and swells, and remains open in all directions.

Follow-up RC and diamond drilling will infill the oxidized portion of the deposit at 25-metre intervals, while a regional program of geochemical and geophysical surveys seeks out parallel structures.

Meanwhile, Semafo has completed its US$5-million acquisition of a 75% stake in the Segala concession in western Mali. The vendor is Oliver Gold (OGO-V).

Segala hosts oxide resources of 1.1 million tonnes grading 2.27 grams gold and sulphide resources of 14.3 million tonnes grading 2.79 grams.