Teck eyes Kantela, Shea

Teck (TEK-T) is funding an exploration program at Orezone Resources‘ (ORZ-T) Kantela gold property in Mali.

The major can earn 60% interests in the Kantela and Shea gold properties (the latter is in Ghana) by backing Orezone’s existing options and funding exploration leading up to a mining decision at either property. At Kantela, Orezone must spend US$1.5 million and pay $200,000 over five years in return for a 100% interest.

The targeted anomaly stretches for 2 km in length and trends northeasterly, similar to high-grade zones at the neighbouring Sadiola gold mine of AngloGold (AU-N) and Iamgold (IMG-T). The mine lies 15 km to the north.

In Burkina Faso, Orezone and Australian partner Delta Gold are awaiting results from a 20-hole program of reverse-circulation drilling at the Inteidougou property. Holes targeted possible extensions to a 10-metre intersection that averaged 19.1 grams gold per tonne and to the C zone.