Bakoudou sampling picks out targets (July 11, 2005)

Surface work by SearchGold Resources (RSG-V) on its Bakoudou property in southeastern Gabon has defined a 3-km-long corridor of gold showings that extend northwest and southeast from the property’s known Zone A gold deposit.

Prospecting and soil geochemistry in the corridor show two areas of surface gold showings and anomalously high gold in soils northwest of Zone A, and a third area south of Zone A. SearchGold found that the gold anomaly mapped in soils over Zone A is continuous for about 2 km, mainly to the northwest of the zone.

The corridor of showings ends near Bakoudou village, where previous small-scale mining has been done by local people. Quartz boulder samples mainly returned gold grades in the 1-to-3-gram range, but the highest value was 34.5 grams per tonne.

Boulder sampling in an area about 1 km northwest of Zone A returned grades of 1 to 14.1 grams gold per tonne. Boulders and bedrock outcrops sampled south of Zone A had gold grades in the range of 1-2 grams.

Plans call for more surface work to define drill targets.

SearchGold has been drilling Zone A in concert with a feasibility study for a potential open-pit mine. The zone carries an oxide resource of 2.1 million tonnes grading 2.5 grams gold per tonne and a sulphide resource of 570,000 tonnes grading 6.1 grams. Both resources combine measured and indicated mineralization.

SearchGold has a 90% interest in the property, with Sogecor, an agency of the Gabonese government, holding the remainder.