Eden Roc proves up Ivorian gold deposit

Eden Roc Mineral (EDN-T) has released encouraging results from the latest 14 holes drilled on the Afema gold project in southeastern Ivory Coast.

The project forms part of the Somiaf joint venture, in which Eden Roc, as operator, holds a 68% interest. The remainder is held by the Ivorian government.

All the recent holes intersected at least one zone of gold mineralization, while four encountered two or more. Three holes were drilled to explore the Amangara zone, where the company encountered 4 metres (from 31 to 35 metres) of 12.7 grams gold per tonne in hole 20, and 3 metres (from 29 to 32 metres) of 6.8 grams plus 3 metres of 4.8 grams, starting at 35 metres down-hole, in hole 18.

The remaining 11 holes tested for gold-bearing oxide and sulphide mineralization in the recently discovered Junction zone.

Highlights from the oxidized portion include: hole 32, which intersected 3 metres (from 36 to 39 metres) grading 7.9 grams gold; hole 27, which hit 8 metres (from 6 to 14 metres) averaging 3.9 grams; and hole 29, which returned 3.22 grams gold over 13 metres (from 18 to 31 metres).

In the sulphide zone, Eden Roc encountered: 18 metres (from 67 to 85 metres) of 5.3 grams gold and 7 metres (from 78 to 85 metres) of 10.5 grams in hole 23; and 9 metres (from 94 to 103 metres) averaging 5.2 grams in hole 33.

To date, the Junction zone has been traced over a strike length of 400 metres and to a depth of 60 metres, and the company says the structure will provide a least a year’s supply of oxide ore for heap leaching. Currently, the company is mining oxide material from reserves of 5.9 million tonnes grading 2.88 grams gold.

Although last year’s head grade of 1.9 grams gold was lower than the average for overall reserves, Eden Roc expects ore from the Junction zone to be higher, averaging about 5 grams gold. The company is currently piling ore from the Junction zone onto leach pads.

Meanwhile, drilling in the previously outlined sulphide zones of Aniuri, Asupiri and Adiopan has been temporarily suspended following the release of results that indicate the geology is more complex than originally thought.

The company expects to finish an updated geological model by the end of the third quarter, at which time drilling will resume.

At last report, the sulphide resource, contained within permit CM-29, was estimated to be 8.8 million tonnes grading 5.04 grams gold. Oxide reserves contained within permit CM-29 stand at 5.9 million tonnes grading 2.88 grams gold per tonne.

In other news, the company reports that it produced 20,008 oz. gold in 1996, compared with 24,633 oz. in 1995. The company cites an unusually high rainfall during the summer months as the cause of the reduced recoveries.

However, a new recovery plant has since been commissioned, which is expected to double the company’s capacity for processing pregnant solutions from leach pads.