Firefinch Limited (ASX: FFX) has reported ‘high-grade’ gold intersections from its first drill hole at the Morila Super Pit in Mali, returning 10.5m @ 30.4g/t Au from 309.2m.
The drill hole was tasked with testing mineralisation in the north-eastern region of the Morila project, with previous drilling returning a series of ‘high-grade’ hits outside of the super pit including 14m @ 21.7g/t Au from 119m, and 6m @ 9.0g/t Au from 146m.
“it’s taken us just one hole to demonstrate that ‘Morila the Gorilla’ is far from done”
These results confirm mineralisation outside of the current resource, in an area that that company states has seen minimal drilling below 250m, and provides potential to investigate underground mining below the current pit.
The company also notes a sample measuring in excess of 100g/t Au, which requires follow-up screen fire assay.
Cross section displaying drill hole MRD0001, drilled from the north, with gold intersected under the current super pitRamping up gold production at Morila
Firefinch owns an 80% interest in the Morila Gold Mine, which has produced 7.5 million ounces of gold since 2000.
Morila has historically been rated as one of the highest-quality gold mines in the world, with former ownership under Barrick Gold and Anglogold Ashanti.
The operation has been increasing production through its 4.5mtpa plant, with current annual output of 40,000 ounces from treatment of tailings, to a goal of 80,000 ounces annually from mining smaller satellite open pits, stockpiles and tailings.
Output is expected to increase further by resuming mining from the main Morila Pit to extract the 1.49 million ounce resource.
Management comments
Firefinch Managing Director Michael Anderson said: “We were looking for a repeat of the historical high grades in the Morila Super Pit and it’s taken us just one hole to demonstrate that ‘Morila the Gorilla’ is far from done. This is simply an incredible result from our first diamond core drillhole, which confirms not only the continuity of high-grade mineralisation below the previously mined pit, but also the significant potential for underground mining at Morila. This first drillhole is just the beginning; we look forward to ramping up our drilling efforts and to providing a steady flow of results from which to update the Mineral Resource and further optimise the Life of Mine Plan.”
Images: Firefinch Limited
