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    Firefinch reports high-grade intercepts at Koting

    Firefinch Limited (ASX: FFX) has announced encouraging results from the drilling at the Koting Project and the Pit 5 Prospect adjacent to the Morila Pit in Mali.

    Significant intercepts from the RC drilling at Koting included 8 metres at 8.25g/t gold from 28 metres in KOTRC020 (incl. 3m at 17.3g/t gold); 8 metres at 1.97g/t gold from 101 metres in KOTRC023; and 8 metres at 2.90g/t gold from 26 metres in KOTRC030. The company said that additional drilling has commenced at Koting to better define this highly variable deposit.

    Important intercepts from the RC drilling at Morila Pit 5 included 7 metres at 5.72g/t gold from 15 metres in SE03; 6 metres at 2.77g/t gold from 1 metre in SE25; and 9 metres at 1.13g/t gold from 25 metres in SE06.

    The company said that Morila Pit 5 anticipated to provide early feed as part of ramp up of production. FFX said that the geological Interpretation and estimation of Mineral Resources is currently underway.

    Drilling at Koting

    The company had discovered Koting in early 2014. The deposit was drilled intermittently since that time, with a significant drill program completed in late 2019.

    In January 2021, Firefinch completed an additional 38 Reverse Circulation drill holes for 5,185 metres of drilling. The drill program was planned to infill previous drilling of nominally 25 metres spaced drilling on 50 metres spaced sections to a more regular spacing of 25 x 25 metres.

    The company said that all assay results have now been received from this programme.

    High-grade drill results at Koting

    The company has now reported encouraging results from drilling at the Koting Project.

    Significant results included 8 metres at 8.25 g/t gold from 28 metres in KOTRC020 including 3 metres at 17.30 g/t gold, 8 metres at 1.97 g/t gold from 101 metres in KOTRC023, and 8 metres at 2.90 g/t gold from 26 metres in KOTRC030.

    FFX said that mineralisation is 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 and siltstone. The company noted that mineralised lodes strike north‐north east and dip steeply to the west.

    The company said that additional drilling has commenced at Koting to better define this highly variable deposit. FFX said that infill drilling has commenced with two RC rigs working and the program is expected to take three weeks to complete.

    Drilling at Morila Pit 5

    The company had completed a short RC drilling programme at the Pit 5 Prospect in February 2021. The Pit 5 Prospect is located on the western edge of the Morila Pit.

    FFX said that 43 holes for 1,756 metres were drilled at a spacing of 25m x 25m as an initial step to determine the quantity and grade of oxide mineralisation present within Pit 5.

    The company said that all assay results were received from this programme.

    Encouraging results from Morila Pit 5

    The company said that encouraging results were reported from Morila Pit 5. Significant results included 7 metres at 5.72 g/t gold from 15 metres in SE03 including 4 metres at 9.48g/t gold; 6 metres at 2.77 g/t gold from 1 metre in SE25 including 1 metres at 13.3g/t gold; 9 metres at 1.13 g/t gold from 25 metres in SE06; and 5 metres at 1.74 g/t gold from 6 metres in SE09 including 2 metres at 3.72g/t gold.

    What’s next?

    The company said that the Pit 5 mineralisation was not included in the Morila Mineral Resource and a separate resource model is being prepared.

    FFX said that due to the shallow nature of the mineralisation identified and the proximity to the processing plant, the Pit 5 Prospect will be evaluated as a stand‐alone project independent of the main Morila resource, and is anticipated to provide another source of early mill feed in the ramp‐up of the Morila Project.

    Management statements

    Firefinch’s Executive Chairman, Dr Alistair Cowden, said: “We have recommenced work on our Koting deposit with the view that Koting will provide future supplementary early feed to the nearby Morila mill. With the same goal we completed an infill programme at the Pit 5 Prospect which has yielded very positive results.

    Once resource models have been completed and pit designs completed both prospects will be incorporated in our life of mine plan and provide flexibility in the operational ramp‐up. We look forward to keeping our shareholders updated on further progress.”

    *Image source: Firefinch Limited

    Jonathan Norris
    Jonathan is a founder of Mining.com.au 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.

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    • Delayed Prices (USD) - Last Updated 01-07-2022
    • Gold $1,819.00
    • Silver $20.75
    • Platinum $916.00
    • Palladium $1,898.00
    • Dalian Iron Ore i2209 $121.63
    • Aluminium $2,491.00
    • Cobalt $72,460.00
    • Copper $8,365.50
    • Lead $1,971.00
    • Nickel $23,158.00
    • Tin $26,800.00
    • Zinc $3,333.00