Famien Resources (ASX:FMN) has expanded its net ground position in Côte d’Ivoire by 871km² while reporting further gold intersections from the Bonougbara Trend.
The increase follows the grant of the 376km² Korhogo Exploration Permit and the acquisition of three permit applications covering 757km² around Ferkessédougou.
Famien, formerly Enegex, has also surrendered a lower-priority permit covering 262km². It plans to begin stream-sediment sampling at Korhogo in the coming months.
Meanwhile, results from 13 reverse circulation (RC) holes at Bonougbara’s North Target have confirmed gold mineralisation beneath artisanal workings across 400m of strike.
Better results include 8m @ 0.94 grams per tonne gold (Au) from 94m and 6m @ 1.29g/t Au from 108m in hole GOERC0006. The intervals include 4m @ 1.69g/t Au and 2m @ 2.81g/t Au, respectively.
Other intersections include 8m @ 1.27g/t Au from 52m, including 1m @ 3.84g/t Au; 4m @ 2.44g/t Au from 54m, including 2m @ 4.02g/t Au; and 2m @ 3.82g/t Au from 64m.
The results represent downhole lengths, with true widths unable to be estimated.
Famien says only 720m of the 5km-long Bonougbara Trend has been tested, with gold mineralisation or artisanal mining voids encountered on every drilled cross-section. The widest cumulative mineralised intervals occurred at the northern edge of drilling, requiring follow-up to the north and at depth.
Managing Director Paul Roberts says drilling has tested less than 20% of the gold-anomalous trend.
“Our ongoing RC drilling on the Bonougbara Trend has obtained encouraging gold intercepts on less than 20% of the known gold-anomalous trend, which has the hallmarks of a large gold mineralised system,” Roberts says.
“Plainly, there is a lot more work to be done here and we look forward to undertaking a larger RC program when we return to Gogo in a few months’ time after following up on our highly encouraging AC drill results at Kalama Bave in the Tougbo permit.”
Famien will pay up to US$300,000 ($418,700) under the acquisition agreement over 12–20 months, including US$100,000 shortly. The former holders will retain a 2% net smelter return royalty on gold production, half of which Famien can purchase for US$5 million.
At the Toumodi Permit, about 20km along strike from Montage Gold’s (TSX:MAU) Blaffo Guetto deposit, stream-sediment sampling has outlined 28km² of gold-anomalous catchments.
Peak results reached 15.7 parts per billion (ppb) Au and 19.4ppb Au. A reconnaissance soil-sampling program covering the anomalous area is scheduled to begin within two weeks.
Drilling at Bonougbara’s remaining North and Central targets is complete, while the rig is expected to move to Kalama Bave at the Tougbo Permit before returning to Bonougbara for follow-up work.
Famien Resources is a gold explorer building a portfolio of early-stage projects across Côte d’Ivoire.
Write to France Pinzon at Mining.com.au
Images: Famien Resources
