Eden Roc makes new discoveries in W. Africa

Diamond drilling by Eden Roc Mineral (EDN-T) has encountered a new sulphide lens on the Asupiri gold prospect in southeastern Ivory Coast.

The 4-hole program tested sulphide mineralization below existing oxide levels on the Asupiri, Aniuri and Adiopan prospects.

The new lens, discovered in Hole 117, returned 5 metres (from 191 to 196 metres) averaging 4.74 grams gold per tonne, including 2 metres (194-196 metres) grading 8.39 grams gold. It was intersected to the north and downdip of the main Asupiri zone, which hosts probable sulphide reserves of 903,000 tonnes grading 2.8 grams gold. A second hole drilled on the prospect intersected 2 metres (66-68 metres) grading 7.36 grams gold.

On the Aniuri prospect, hole 121 intersected 5 metres (250-255 metres) averaging 4.9 grams gold, including 3 metres (252-255 metres) grading 6.47 grams gold. Hole 12, drilled at the Adiopan prospect, intersected 7 metres (100-107 metres) averaging 2.48 grams gold, including 2 metres (103-105 metres) grading 5.98 grams gold.

Eden Roc is drilling three more holes at Asupiri and Adiopan, and will use samples from drill core to complete metallurgical tests. Two more rigs are expected to be operational by late November, increasing to five the number of drills dedicated to proving up sulphide resources for the Asupiri, Aniuri and Adiopan zones.

In other news, Eden has acquired Marshall Minerals’ (MAH-T) interest in exploration permit PRA-51. The deal required the issuance of 1.3 million Eden Roc shares and the forgiveness of $1.7 million in debt owed by Marshall. The shares will be released to Marshall over three years. The company will have a 45.2%-interest in Eden Roc, which, in turn, holds a 68% interest in the SOMIAF mining permit. Included in the permit are the Asuipir, Aniuri and Adiopan prospects. The remaining 32% interest is held by SODEMI, a government agency.

The permit covers several exploration targets, including the Sikassou prospect, containing two gold oxide zones discovered last year along the southwestern extension of the Aniuri structure. Both zones have had their strike lengths increased by the completion of two recent holes.

Hole 49 intersected 5 metres (19-23 metres) grading 3.42 grams gold, and hole 50 intersected 4 metres (17-21 metres) grading 4.61 grams gold. Combined with previous drill results, the two zones have been traced for 400 and 200 metres, respectively.

Eden Roc has budgeted $1 million for the next 12 months for exploration on PRA-51. Exploration work will consist of re-examining historical showings, following up on airborne identified targets, and testing the southern extension of the Afema shear zone (currently being mined).

Minable oxide reserves for the Afema shear zone are 5.9 million tonnes grading 2.88 grams gold, while probable sulphide reserves stand at 8.8 million tonnes grading 5.04 grams gold.