Firefinch hits 21m at 13.45g/t gold, discovers high-grade zone at K3 Prospect

Firefinch Limited (ASX: FFX) has reported the discovery of a new, very high-grade zone 250 metres south of the K3 prospect within the Company’s 100% owned Finkola permit, part of the Massigui Project which adjoins the Morila Gold mine in Mali.

The company reported that the drilling intersected 21 metres at 13.45 g/t gold from 110 metres in KOTRC128 including 4m at 46.45 g/t gold from 114 metres , and 3m at 16.1 g/t gold from 121 metres.

FFX said that KOTRC128 was the first hole drilled to investigate an aircore anomaly extending from the south end of the K3 prospect. The company said that additional drilling is being planned to test the area immediately around this intercept.

Drilling at K3 prospect

The K3 prospect is part of a group of targets close to the N’Tiola, Viper and Koting satellite deposits and is located 20 kilometres from the Morila Gold Mine in Mali. Morila is owned 80% by Firefinch. The company had completed aircore drilling in December 2020 targeted on a gold in auger soil sample anomaly.

Firefinch had recently commenced drilling aimed at testing anomalous gold in shallow reconnaissance Aircore drilling that extends up to 400m south of the K3 prospect.

The company has now reported encouraging results from the drill program.

High-grade gold discovery at K3 prospect

The company reported that the drillhole KOTRC128 on section 1306000mN at K3 intersected the best gold intersection drilled to date by Firefinch across either the Morila or the Massigui Gold Projects, 21 metres at 13.45 g/t gold from 110 metres.

The intersection included two high-grade zones 4m at 46.5 g/t gold from 114 metres; and 3m at 16.1 g/t gold from 121 metres.

FFX said that the mineralisation is a shear zone hosted, low sulphidation (pyrite and arsenopyrite) quartz vein system, with varying levels of silica, chlorite, biotite, and sericite alteration of the host greywacke similar to other mineralisation in the area. Mineralised lodes in the area generally strike-north south and dip sub-vertically. K3 is also assumed to be sub vertical and is expected to have a true width of about 10 metres.

Potential for another goldfield

FFX said that the high-grade intersection in KOTRC128 demonstrated the significant potential within Firefinch’s 685km2 of tenure to find another goldfield beyond Morila.

The company said that additional drilling is being planned to test the area immediately north, south, and east of this intercept.

Management comments

Firefinch’s Managing Director Michael Anderson said: “I’m told that this is the best intercept Firefinch has drilled to date. Of course, we are only just getting started, but what a fantastic early result from our drilling campaign.

Finding and delineating a new potential source of oxide mill feed, on a tenement that is already moving through the process of gaining an exploitation license, will provide additional flexibility to our mill start up. We look forward to keeping our shareholders updated as further results come to hand.”


Image Source: Firefinch Limited

Written By Jonathan Norris
Jonathan is a founder of and has been covering the resources industry since 2018. With over 17 years experience in print, broadcast and online media, Jonathan has seen first hand the transformative effect of online niche media.