St. Jude sniffs Goulagou gold

Drilling by St. Jude Resources (SJD-T) has confirmed the presence of gold mineralization at the Goulagou property in Burkina Faso.

The program entailed nine reverse-circulation holes to substantiate results from an old core-hole — 2.53 grams per tonne over 22 metres, 3.33 grams over 34 metres and 6.76 grams over 17 metres. The recent results are similar: from 0.83 to 3.6 grams over 3 to 50 metres.

In the late 1990s, Channel Resources (CHU-T) sunk 311 holes to outline 19.4 million tonnes in two parallel zones grading 1.12 grams. The discovery attracted Placer Dome (PDG-T) to the project in 2000, though the major walked away after just a year of exploration.

Mineralization is mainly associated with quartz veinlets and zones of silicification in steeply, south-dipping graphitic argillites. The host rocks are oxidized down to 100 metres below surface.

St. Jude can earn an 80% interest in the 209-sq.-km property by paying US$300,000 over five years and another 10% by paying US$1 million in one year of pouring the first gold bar. The vendors retain a 5% net profits interest, and the government retains a 10% carried interest.

Print


 

Republish this article

Be the first to comment on "St. Jude sniffs Goulagou gold"

Leave a comment

Your email address will not be published.


*


By continuing to browse you agree to our use of cookies. To learn more, click more information

Dear user, please be aware that we use cookies to help users navigate our website content and to help us understand how we can improve the user experience. If you have ideas for how we can improve our services, we’d love to hear from you. Click here to email us. By continuing to browse you agree to our use of cookies. Please see our Privacy & Cookie Usage Policy to learn more.

Close