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Perseus Mining Ltd

Perseus Mining farm-in partner has drill spinning at Côte d’Ivoire gold project

Manas Resources is earning a 70% interest in the Mbengué permit held by a subsidiary of Perseus.

Diamond drill rig at Mbengué Gold Project
Diamond drilling at the project in northern Côte d’Ivoire.

Perseus Mining Limited (ASX:PRU) (TSE:PRU) (OTCMKTS:PMNXF) farm-in partner Manas Resources Ltd (ASX:MSR) has started a 1,000-metre drilling program at Mbengué Gold Project in Côte d’Ivoire, West Africa.

The short program of diamond drilling is designed to validate the results of previous drilling.

It is also intended to provide a higher level of confidence in the geological and structural interpretation of mineralisation at K1 prospect and its surrounds, where multiple vein orientations have been mapped.

READ: Perseus Mining’s farm-in partner prepares to drill for gold in Côte d’Ivoire

Manas is earning a 70% interest in the project, which is held by a subsidiary of Perseus, through sole-funding exploration.

Perseus has previously undertaken several geochemical and exploration drilling campaigns over the Mbengué permit.

Previous percussion drilling work produced a number of notable intersections, including 28 metres at 8.14 g/t gold and 27 metres at 3.71 g/t; 58 metres at 1.48 g/t; and 6 metres at 6.04 g/t.

These results are from the K1 prospect, about 10 kilometres north of the Tongon gold mine operated by Randgold Resources Limited (LON:RRS).

READ: Perseus Mining boosts gold production by 45%, lowers costs by 22% in FY18

Subsequently, Manas conducted an independent review of the drilling database to validate the data for JORC Code 2012-compliance.

This review identified additional drill intercepts and two minor discrepancies in previously released information which have been adjusted.

Program expected to take four weeks

Manas expects to complete the drill program within four weeks, weather permitting, with samples planned to be sent progressively to the laboratory.

Mbengué is within the highly prospective Birimian greenstone belt of Côte d’Ivoire.

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Price: $0.77

Market: ASX
Market Cap: $899.34 m
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