Arrow Minerals Limited (ASX: AMD) has announced that it has extended exploration rights along strike at the “richly gold endowed” Boromo Belt in Burkina Faso, via an exploration joint venture deal with Trevali Mining Corporation (TSX: TV).
The deal sees Arrow gain gold exploration rights over Trevali’s permits, creating a total of 1,200km² coverage across “world class” Paleoproterozoic Birimian Greenstone lithologies.
Arrow goes for gold, Trevali seeks base metals
The Agreement entitles Arrow to undertake gold exploration on Trevali’s permits, and grants Trevali exploration access to Arrow’s licenses for base-metals exploration.
The agreement consolidates eight exploration licences, with five 100% owned by Trevali: Kikio, Kordie, Pilimpikou, Semapoun, Viveo; and three 100% owned by Arrow: Divole East, Divole West, Dyapya.
Key deal terms include:
- Arrow secures exploration rights over Trevali permits in return for 51% interest in gold on Trevali permits. If Arrow discovers base metals on Trevali permits, Trevali will reimburse 2x exploration costs + 2% NSR royalty.
- Trevali secures exploration rights over Arrow permits in return for 51% interest in base metals on Arrow permits. If Trevali discovers gold on Arrow permits, Arrow will reimburse 2x exploration costs + 2% NSR royalty.
- Exploration data to be shared between both parties.
Boromo Gold Belt exploration
The Burkina Faso gold mining industry has exploded over the past decade, emerging as a major global producer with a surge in exploration targeting prospective belts including Hounde, Boromo, Bouroum and Diapagas.
As a result of the presence of the Perkoa Zinc Mine in the central area of the Boromo Gold Belt, no modern gold exploration has occurred over the tenements covered by this Agreement.
Arrow is aiming to build on the discovery of the Dassa gold deposit on its Divole West tenement with an aggressive exploration campaign across 80km of Boromo greenstone belt, provided by this Agreement.
“The Boromo Greenstone Belt hosts some of the largest gold deposits in Burkina Faso, exemplified by the multimillion-ounce Bissa and Bouly deposits to the north and Poura to the south”
Management comments
Arrow Minerals Managing Director Howard Golden said: “The Boromo Greenstone Belt hosts some of the largest gold deposits in Burkina Faso, exemplified by the multimillion-ounce Bissa and Bouly deposits to the north and Poura to the south. This agreement with Trevali gives us access to over 80 km of the belt that has historically been explored almost exclusively for base metals. This portion of the belt has seen historical gold exploration that only scratched the surface but yielded high grade gold anomalism. We have a successful team on the ground as demonstrated by the discovery of the Dassa deposit (see ASX announcement on 21 March 2021) and they are excited and highly motivated by the opportunity presented by this Agreement.”
Images: Arrow Minerals Limited