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Burey Gold extends mineralised zone at Giro Gold Project

Published: 12:00 01 Nov 2016 AEDT

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Burey Gold Ltd extends mineralised zone at Giro Gold Project

The drilling demonstrates that mineralisation remains open to the southeast.

The majority of holes ended in mineralisation and will be followed up with diamond drilling to evaluate the extent and grade of mineralisation at depth.

The significant intercepts include:
- 24 metres at 2.32 g/t gold from 85 metres including 11 metres at 4.41 g/t gold from 95 metres;
- 6 metres at 4.01 g/t gold from 61 metres; and
- 8 metres at 4.71 g/t gold from surface.

The company is currently awaiting results for an additional 7 holes.

The Giro Gold Project comprises two exploitation permits covering a surface area of 610 square kilometres and lies within the Kilo-Moto Belt, a significant under-explored greenstone belt.

The Kilo-Moto Belt hosts Randgold Resources Ltd’s (LON:RRS) 17-million ounce Kibali group of deposits, lying within 30 kilometres of Giro.

Kibali produced 642,720 ounces of gold in 2015 and is targeting production of 610,000 ounces for 2016, confirming a favourable mining environment in the region.

Burey’s share price has increased by 176% during the past six months, last trading at $0.069.

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