Sign up Australia
Proactive Investors - Run By Investors For Investors

Bassari Resources discovers gold zone 800 metres from Makabingui project

The new zone may indicate a much larger mineralised gold system than defined.
Bassari Resources discovers gold zone 800 metres from Makabingui project
The Makabingui Gold Project is in the West African nation of Senegal

Bassari Resources Ltd (ASX:BSR) has discovered a new gold zone about 800 metres east of the Makabingui mineralised system at its project in Senegal.

Geologists analysed 8 rock chip samples with one of them returning a high grade of 4.2 g/t gold.

Continuation of Makabingui system

The new find demonstrates that the entire Makabingui gold system is still open and appears to be swinging around the Sambarabougou granite in an easterly direction.

This is a continuation of the same Makabingui geological setting, with recent artisanal mining at the surface of the new area further confirming the gold zone.

READ: Bassari Resources surges 16% as finance for Makabingui Gold Project is formalised

The mineralisation from where the samples were taken is considered to be in similar shear structures at the contact of the meta-volcanics (gabbro), and meta-sediments proximate to the granite.

Bassari aims to demonstrate the potential of the new zone with an induced polarisation (IP) survey over the 800-metre-long trend.

This would provide better definition of the contact structure and would be followed up by drilling.

If the discovery proves to be an extension of Makabingui, it opens up the project to being a much larger system containing more gold than defined to date.

High-grade open pit

Bassari has completed a pre-feasibility study at the Makabingui Gold Project, modelling an initial high-grade open pit project of 1 million tonnes at 5.7 g/t gold for 174,000 ounces of production.

The study determined a $678 per ounce cash cost and expansion is anticipated from underground and infill drilling along the 8 kilometres of strike at Makabingui South.

View full BSR profile View Profile

Bassari Resources Ltd Timeline

Related Articles

September 06 2018
Kogi's plans to become an integrated steel producer will allow it to tap into a ready market
project area
July 12 2018
The Gabanintha Vanadium Project is one of the highest-grade vanadium deposits in the world.
Mark Wilson and Mark Creasy with core sample from Nova-Bollinger
April 16 2018
Mark Creasy, who was behind Sirius Resources when it struck the jackpot at Nova-Bollinger has a 30% stake in the Rockford project and a 28% stake in Legend.

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use