Nevsun Resources (NSU-T) intersected several high-grade, steeply dipping pods of gold mineralization while drill-testing the downdip extension of the Tabakoto project in Mali, West Africa.
The 50-hole, 18,151-metre drill program at the company’s 90%-owned Tabakoto property has increased the depth of the mineralized zone by 200 metres.
Mineralization trends in a northerly direction for 2.2 km and dips steeply to the east in a series of parallel zones.
Nevsun has discovered steeply plunging pods of high-grade mineralization in these parallel zones. Hole 161 exemplifies this occurrence; at 90 metres, the hole intersected 95.52 grams gold per tonne over 16.6 metres. In addition, several high-grade zones crosscut the dominant north-south-trending mineralization. Highlights include: hole 160, which hit 7.39 grams over 64.85 metres; hole 153, which encountered 7.23 grams over 12.89 metres; and hole 138, which hit 71.54 grams over 1.9 metres.
The last preliminary reserve estimate indicated a resource of 5.9 million tonnes grading 7.20 grams gold, equivalent to 1.57 million contained ounces (using a cutoff grade of 3 grams).
Gold mineralization is associated with a felsic to intermediate porphyry dyke swarm intruding into altered shales and greywackes. The dykes are silicified and sulphidized and are on the hinge of a north-south-trending fold. The gold occurs as coarse free grains and is also bound up in sulphide minerals.
Metallurgical testing, conducted by Lakefield Research in Toronto, indicates that the Tabakoto resource has non-refractory ore with a high gold recovery potential. Gold recovery ranged from 93% to 95% using a standard cyanidation process.
The Vancouver-based junior has budgeted $4.5 million for drilling and exploration over the next six to eight months. Two rigs are currently testing induced-polarization targets. In addition, definition drilling at 50-metre centres will focus on the main zone of mineralization.
Reverse-circulation drilling is under way in an attempt to identify potential resources in the oxidized zone. Nevsun has 29.2 million shares fully diluted and a working capital of $25.3 million.
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