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Tribune Resources Ltd intersects thick zones of gold in Ghana

Tribune Resources Ltd (ASX:TBR) has completed a drilling program comprising 59 drill holes for 4800 metres at the Adiembra gold prospect in the Japa Concession, Ghana.

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Tribune Resources Ltd intersects thick zones of gold in Ghana

Highlight assays from the program include:
- 13 metres at 4.87g/t gold from 7 metres;
- 13 metres @ 1.97g/t gold from 93 metres; and
- 15 metres @ 2.18g/t gold from 36 metres.

The Japa concession lies within the eastern portion of the Kumasi Basin of the Proterozoic Birimian Supergroup of West Africa.

There are no lithological controls on gold mineralization at the Adiembra prospect. Gold is found within all rocks.

The gold bearing quartz veins at Adiembra are composed of quartz, carbonate and pyrite.

Tribune will resume drilling after the rainy season.

Incidentally, the company owns 75% share of the East Kundana Joint Venture (EKJV) with Rand Mining.

During the September quarter, 273,648 tonnes of EKJV ore were processed at the Kanowna Plant.

Importantly, 27,951 ounces of gold and 5,685 ounces of silver were credited to the companies’ bullion accounts.

Tribune is well funded with $11.5 million cash as at 30 September 2016.

The company’s share price has doubled since the beginning of 2016, last trading at $7.00.

Quick facts: Tribune Resources Ltd

Price: 6.52 AUD

ASX:TBR
Market: ASX
Market Cap: $360.9 m
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