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Burey Gold finds gold mineralisation over 30km corridor in DRC

Burey Gold finds gold mineralisation over 30km corridor in DRC

Burey Gold (ASX:BYR) which recently raised $1.37 million at $0.02, has been sampling for gold over a massive 30 kilometre corridor at its Giro project in the north-east Democratic Republic of Congo.

Providing excitement, the Giro project has the same geological setting as Randgold Resources’ (LON:RRS) 17 million ounce Kibali group of gold deposits, located less than 30 kilometres from Giro.

Adding spice, Burey’s executive chairman Klaus Eckhof was a founding director of the company that discovered the Kibali Gold deposits.

Mineralisation at Giro is open at depth and all directions with ongoing exploration delivering results with diamond drilling currently underway and results are imminent.

Channel samples collected from two artisanal pits at Giro included 3 metres at 8.06g/t gold and 3 metres at 2.90g/t gold.

There was also samples of 4 metres at 2.60g/t gold, 4 metres at 9.43g/t gold and 4 metres at 1.77g/t gold from horizontal channel samples.

There would seem to be strong potential across the full 5 kilometre in outcrop and from historic geophysics.

As well the anomaly supports potential for a new discovery within the interpreted structural corridor.

Soil samples have been collected over the full 20 kilometres of the interpreted NNW trending structural on adjacent PE 5049 with results expected during the current quarter.

Diamond drilling has been completed at Kebigada (1,221 metres), Giro vein (310 metres), Peteku (100 metres) and Adoku (579 metres).

Meanwhile drilling has commenced at Mangote where 600 metres have been planned.

So news flow will provide a pipeline of price catalysts for Burey Gold.

With the top 20 shareholders accounting for 73% of the shares, Burey is leveraged to news flow.

The recent placement was again supported by Chinese investors.

 

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October 23 2015

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