Searchgold finds it in Gabon

Drilling by Searchgold Resources (RSG-M) has increased the resource at its Bakoudou gold deposit in southeastern Gabon.

Prior to Searchgold’s program, which ended in October 1998, the deposit was drilled by manganese miner Comilog, controlled by the Gabonese government, steel giant USX, and French interests. In 1984, Comilog drilled off a resource in a 300-by-400-metre area, estimating 7 million tonnes grading 3 grams gold per tonne, but the resource was still open along strike and downdip.

The new estimate of Bakoudou’s indicated resource, based on 20 drill holes and 3,000 metres of drilling, is 3.9 million tonnes grading 6.4 grams gold. The gold is in quartz veins in altered volcanic rocks, with some disseminations in the wall rocks. The oxidized zone has an average depth of 50 metres but can extend to 85 metres.

Searchgold has a 90% interest in the property, which had been held by Golden Gram Resources (RSG-M). The government of Gabon retains a 10% interest. The property is south of the manganese mining centre of Moanda, which has rail and road connections.

The company plans more drilling along strike and dip extensions of the mineralized structure, as well as a soil survey. Some work will be done in February, with the balance completed between June and October.