Exore Resources Ltd (ASX: ERX) has announced a highly encouraging update on the maiden RC drilling program at the Veronique prospect within its Bagoe Project in northern Cote d’Ivoire.
The company reported that 30 RC holes to an average depth of 90 metres have been completed to date across the central zone of the Veronique gold-in-soil anomaly.
Significant results from the initial 13 RC holes (~1,300 metres) include 5m @ 12.25g/t gold from 56m; 5m @ 7.69g/t gold from 39m; 4m @ 5.26g/t gold from 91m; and 8m @ 2.08g/t gold from 37m.
The company said that high-grade gold mineralisation has been intersected over 600 metres of strike with a further 600 metres of step out drilling completed and underway, with mineralisation remaining open in all directions.
ERX said that the RC drilling at Veronique is ongoing and will continue up to a planned Christmas/New Year break, with drilling resuming in the first week of January 2020.
The company reported that there are two auger rigs drilling across the broader Veronique anomaly testing highly anomalous geochemistry to the south and north of the current area of RC drilling.
Exore said that the IP survey over potential strike extensions to Antoinette Central is nearing completion in preparation of RC drilling in January 2020.
The company announced that it remains well-funded for further aggressive drilling program with approximately $16 million cash.
Bagoe Project
The Bagoe Project in northern Cote d’Ivoire covers a total area of 425km2. Initial geochemical sampling has defined two large scale, high-tenor gold-in-soil anomalies within the Bagoe Project area, Antoinette and Veronique.
The Bagoe 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.
AC drilling at Veronique
Previous AC drilling at Veronique had identified multiple zones of WNW gold mineralisation, within the partially tested 7-kilometre NE trending gold-in-soil anomaly, with each zone extending over strike lengths of greater than 1,000 metres.
The results from recent AC drilling at Veronique included 20m @ 6.46g/t gold from 8m; 12m @ 7.00g/t gold form 16m; 4m @ 76.31g/t gold from 32m; and 4m @ 9.60g/t gold from 16m.
RC drilling at Veronique
The company had recently commenced the maiden RC drilling at the Veronique gold anomaly. To date, 30 RC holes to an average depth of 90 metres for approximately 2,700 metres have been completed at Veronique.
Exore said that the RC drilling is ongoing and will continue until Christmas before resuming in the first week of January 2020.
The company said that the maiden RC drilling has successfully intersected high grade gold mineralisation and confirms the recent outstanding AC results.
The company has now reported the initial gold assay results from Veronique.
High-grade gold mineralisation
Exore said that the latest results are from 13 shallow RC holes (~1,300 metres) drilled across 600 metres of WNW strike at ~80 metre spacing, following up on recent AC drilling results in the central ~1.5 kilometre zone of the large ~7 kilometre long Veronique gold anomaly.
Initial RC results include 5m @ 12.25g/t gold from 56m (hole BDRC0178), 4m @ 2.90g/t gold from 6m including 5m @ 7.69g/t gold from 39m (hole BDAC0184), 4m @ 5.26g/t gold from 91m (hole BDRC0188), 8m @ 2.08g/t gold from 37m (hole BDRC0189), 11m @ 1.48g/t gold from 18m (hole BDRC0186), and 2m @ 4.85g/t gold from 51m (hole BDRC0176).
The company said that the results confirm the interpreted WNW strike orientation of high-grade gold mineralisation with a well-developed weathered profile of >50 vertical metres of oxidation. Mineralisation remain open in all directions.
Exore said that the 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.
Latest updates and next steps
The company reported that in addition to the ongoing RC drilling at Veronique, Exore also has two auger drill rigs testing the broader ~7 kilometre corridor of anomalous soil geochemistry at Veronique.
This auger drilling is being undertaken to the north and south of the current area of RC drilling and is designed to define additional RC drill targets across the broader Veronique area.
Exore said that an IP survey over the potential strike extensions to the Antoinette Central gold deposit is nearing completion which will allow for RC drilling to be undertaken at Antoinette in January 2020 to test for strike extensions to the 1,000 metres of strike of high-grade gold mineralisation already defined at Antoinette Central with RC drilling.
The company said that the next stage of exploration work will consist further RC drilling along strike and beneath recently drilled AC holes.
Management comments
Exore’s Managing Director Justin Tremain said: “It is pleasing that the maiden RC holes being drilled at Veronique are delivering significant intercepts with individual assays to over 50g/t gold and confirming the previous high-grade results returned in earlier air core drilling.
High grade gold has now been defined over 600 metres of strike which remains open in all directions with step out drilling ongoing and further assays pending.”