Exore reports shallow high-grade gold at Veronique

Exore Resources Ltd (ASX: ERX) has announced further exceptional shallow gold results from step-out AC drilling at the Veronique gold discovery within its Bagoe Project in northern Cote d’Ivoire.

The company reported that the latest results from broad-spaced shallow AC drilling at Veronique include high-grade hits of 4m @ 76.31g/t gold from 32m; 4m @ 9.60g/t gold from 16m; and 8m @ 2.94g/t gold from 20m.

ERX said that these results extend zone drilled in maiden diamond drill hole that had returned 8m @ 7.74 g/t gold and continue to confirm multiple, sub-parallel zones of interpreted WNW striking gold mineralisation with each zone extending for over 1km.

The company said that the mineralisation remains open in all directions.

Exore reported that the current drilling at Veronique focussed across just the central 1.6km of the >8km long, >2km wide Veronique gold anomaly. The company said that there is a highly anomalous geochemistry extending for a further 3 kilometres to the north and 3 kilometres to the south.

ERX reported that the RC drilling program at Veronique would commence early November 2019. The company reported that it is well-funded for further aggressive drilling program, with approximately $10 million cash available as of 30 June 2019.

Bagoe project

The Bagoe Project covers a total area of 425km2. The project is in a major gold producing region with several nearby large operating gold mines including Barrick’s 4.2Moz Tongon and 6.5Moz Morila mines, Resolute’s 11.5Moz Syama mine, Teranga’s 2.7Moz Wahgnion mine, and Perseus’ 1.0Moz Sissingue mine.

The two large scale, high-tenor gold-in-soil anomalies within the Bagoe project area are Antoinette and Veronique.

Veronique discovery

The Veronique Gold Discovery is located 12 kilometres to the south of Antoinette.

It is defined by an 8-kilometre by 2.2-kilometre area of coherent and highly anomalous soil samples striking NNE, often grading >200ppb gold in soils with up to 1,320ppb gold. The anomaly remains open and is only limited by the extent of soil sampling.

Over 80% of the 8km gold-in-soil anomaly at Veronique remains untested with highly anomalous gold geochemistry extending for a further 3 kilometres to the south and 3 kilometres to the north.

Gold mineralization at Veronique is hosted by zones of quartz veining and sericite alteration within an equigranular granite. Pyrite is the dominant visible sulphide and is accompanied by minor visible gold.

The company noted that this is a similar geological setting to the 2.9Moz Doropo gold discovery made by Centamin plc, in northern Cote d’Ivoire.

Diamond drill hole

The company said that a single diamond core hole was drilled at Veronique to test for down dip extensions of high-grade gold mineralisation into the fresh rock which returned 8m @ 7.74g/t gold from 78m.

The preliminary metallurgical test work undertaken on the composited intercept had returned approximately 90% gold extraction.

Drilling at Veronique

The company had commenced a 4,000m drilling of 67 Aircore (AC) drill holes at the Veronique gold anomaly. Exore said that the broad spaced AC drill traverses completed to date have focussed on just the central 1.6km of the 8km long gold-in-soil anomaly.

Exore reported that the drilling has successfully intersected further high grade, in situ gold mineralisation across multiple lodes of gold mineralisation.

The company said that shallow drilling results continue to confirm the interpreted WNW strike orientation across multiple sub-parallel zones and the presence of widespread shallow oxide gold mineralisation at Veronique.

Exore reported that the AC drilling has identified at least five sub-parallel zones of gold mineralisation with each zone extending over strike lengths of greater than 1,000m. All zones of mineralisation remain open in all directions.

High-grade AC results at Veronique

The company announced the latest AC results at Veronique.

The high grade, in situ gold mineralisation includes 4m @ 76.31g/t gold from 32m (BDAC1289); 4m @ 9.60g/t gold from 16m (BDAC1300); 8m @ 2.94g/t gold from 20m (BDAC1255); 4m @ 3.46g/t gold from 24m (BDAC1260); and 4m @ 3.01g/t gold from 8m (BDAC1262).

These latest results follow on from recently reported results from AC drilling at Veronique over the past 6 months including 20m @ 6.46g/t gold from 8m; 12m @ 7.00g/t gold 16m; 12m @ 3.63g/t gold from 4m; 12m @ 3.12g/t gold from 36m; 1m @ 38.01g/t gold from 28m (EOH); 8m @ 4.42g/t gold from 12m; 8m @ 4.30g/t gold from 12m; 4m @ 7.58g/t gold form 20m; 4m @ 6.01g/t gold from 44m; 8m @ 2.71g/t gold from 0m; 8m @ 2.33g/t gold from 24m; 8m @ 2.23g/t gold from 48m; 4m @ 4.45g/t gold from 12m; 12m @ 1.42g/t gold from 4m; 4m @ 3.31g/t gold from 16m; and 4m @ 2.48g/t gold from 12m.

Next steps

Exore reported that the next stage of exploration work will consist of a further AC drilling along strike and diamond core and RC drilling beneath recently drilled AC holes.

The company said that the significant RC drilling program at Veronique will commence following the current wet season in early November 2019.

Management comments

Exore’s Managing Director Justin Tremain said: “Shallow drilling at Veronique continues to return very impressive results and provide confidence in a significant shallow, high grade gold discovery at Veronique, with excellent scale potential.

The latest 4m @ 76.31g/t gold intercept is over 300 gram metres (width x grade) and is the best aircore result ever returned across the entire Bagoe and Liberty Project areas.

Exore’s exploration efforts will be focussed primarily on Veronique over the coming 6-12 months, along with some further drilling targeting additional shallow oxide gold mineralisation at the Antoinette area just 12 kilometres to the north.”

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Written By Christopher Norris
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