Int’l Tournigan hits solid gold grades in Ghana

A 22-hole drill program at the Riyadh concession in southwestern Ghana has confirmed gold mineralization in a vein structure 2.6 km long.

International Tournigan (ITG-V) is spending $2.5 million to explore the concession in order to earn a 50% share from Orovi, a private company based in Denver, Colo. The property is near the Obuasi gold mine of Ashanti Goldfields (AHD.U-T).

Soil surveys identified a 2.6-km strip with high gold concentrations, coincident with a vein structure called the R’ Reef.

A 15,000-metre program of diamond drilling began in July. Thus far, 22 holes have been drilled, and assay results have been received for 18.

The drilling tested two zones: R-5050 (near the middle of the soil anomaly) and R-5850 (near its eastern end). Another zone, R-3750, was tested in 1995.

In R-5050, 13 holes intersected gold mineralization with grades ranging from 0.6 to 25.5 grams gold per tonne over core lengths of 0.5-4.8 metres. Among the better intersections were 2.6 metres grading 25.5 grams gold and 3.3 metres grading 20.1 grams.

In R-5850, five holes intersected core lengths of 0.8-2.3 metres with gold grades of 1.6-18.6 grams gold, including a 2.1-metre intersection with 13.3 grams.

The structure is open to depth, and mineralization and structural style are said to resemble those of the Obuasi mine.

Obuasi produced 932,323 oz. gold in 1995 from vertical quartz-vein structures (known locally as “reefs”) hosted in volcanic and sedimentary rocks of the Birimian supergroup.

Tournigan will send a second drill to Ghana and redrill four holes where the core recovery was poor. The company will test along strike and downdip from the showings.