Axmin Resources (AXM-V) has confirmed that mineralization extends to at least 340 metres depth on the Komahun prospect of the Nimini Hills project in Sierra Leone.
Axmin, which holds a 60% interest in the project and is the operator, has recently completed 11 holes totalling 3,500 metres of drilling.
The remainder of the project is held by Eldorado Gold‘s (ELD-T) subsidiary AFCAN Barbados.
Assays from the main zone of Komahun include a 10.5-metre intersection grading 16.8 grams gold per tonne, 11.7 metres grading 5.6 grams gold per tonne and 28.5 metres grading 2.6 grams gold per tonne. Axmin tested 400 metres of strike length and detected gold mineralization as deep as 340 metres though the deposit remains open at depth.
Located 300 and 900 metres from the main zone are South 1 and South 2, which were also tested. The company says they appear to be part of the same structure as the main zone.
Drilling from South 1 returned 4.5 metres grading 3.2 grams gold per tonne and 9 metres grading 2.7 grams gold per tone.
Axmin is waiting on results from four more holes. Once they are received the company will get started on a mineral resource update, projected to be ready early in the third quarter.
The company has the option to increase its interest to 80% by completing a feasibility study.
Axmin shares were unchanged in Toronto today at 41 apiece on a trading volume of 33,500 shares.
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