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Scout drilling confirms potential at Toukwatou says Alecto

Published: 19:54 17 Jul 2014 AEST

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Alecto Minerals’ (LON:ALO) scout drilling programme on its Toukwatou prospect at Massakama in Mali has intercepted significant high-grade gold intercepts, it said today.

Alecto was following up on strong gold indications from artisanal workings in the area, with 38 shallow holes drilled over a total of 761 metres. Massakama is one of the newer targets on the flagship Kossanto project.

Strong intercepts were encountered in 11 drill holes with the best results 6 metres at 4.23 g/t at a depth of 9m, 12 metres at 3.34 g/t Au from 6m down and 6 metres at 7.84 g/t Au from 24 metres down.

A NE-SW trending corridor of mineralisation had been identified, added Alecto, covering a strike length of 300 metres and associated with an intensely quartz veined felsic intrusive. 

Mark Jones, chief executive, said: "These latest high-grade gold RAB drilling results further confirm our belief that the Toukwatou prospect at the Massakama target represents a viable new resource opportunity at Kossanto. 

"This new target area forms part of our strategy to make new gold discoveries at Kossanto, which we hope to advance further in due course through resource definition drilling in order to complement the current JORC-Code compliant inferred resource estimate of 247,000 oz Au for the Gourbassi Prospect. 

With this in mind, we believe that these latest results from Toukwatou place Alecto in a very strong position to continue to deliver promising news flow from Kossanto and add value in the next drilling season."

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