EXPLORATION – Trio Gold picks up Ghanaian gold property

Trio Gold (TGK-A) has acquired a half-interest in the Riyadh gold concession in Ghana, which it hopes to expand by means of drilling.

The remaining half of the 98-sq. km property, situated 75 km southwest of the Obuasi mine, is held by privately owned Orovi Corp. of Denver.

To earn its interest, Trio must pay US$250,000 to Orovi by the end of January 1999, of which US$100,000 has already been paid.

To date, exploration has delineated a resource of 215,000 oz. gold in 1.3 million tonnes of material grading 5.3 grams per tonne. Drilling and trenching have concentrated on the R reef, which is 600 metres long.

As many as 70 drill holes have tested the structure to a depth of only 150 metres, though it remains open along strike, as well as at depth.

The property contains at least seven additional mineralized reefs, which have yet to be tested. The reefs are in a zone of intense shearing and faulting hosted in upper and lower Birimian rocks.

Recent trenching has uncovered another prospective area, known as the Pampe zone, which Trio believes could be as large as the R reef. Mineralization occurs in thinly bedded graywackes and phyllites as quartz reefs associated with pyrite, arsenopyrite and galena.

Trio anticipates it can double or perhaps even triple the known resource.

The first phase of drilling, which could begin as early as January, will consist of 15,000 metres and focus primarily on the R reef.