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Exore Resources Ltd

Exore Resources hits high-grade gold at Bagoe project in Cote d’Ivoire

The company’s Cote d'Ivoire gold projects are on the convergence of two of West Africa’s most prolific gold belts, Tongon and Syama.

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The share price reached a new 12 month high today, up more than 11% to 7 cents

Exore Resources Ltd (ASX:ERX) has hit high-grade gold in maiden reverse circulation (RC) drilling at Antoinette prospect within the Bagoe project in northern Cote d’Ivoire.

First results have been received from the initial 13 drill holes for 1,913 metres of a 60-hole and up to 10,000-metre phase one RC program at Antoinette Central.

Best result was 25 metres at 6.87 g/t gold from 32 metres.

Results “exceed expectations”

Exore Resources managing director Justin Tremain said: “Initial results from Antoinette drilling are exceeding our expectations and confirm Antoinette Central is a significant, high-grade gold discovery at surface.

“Drilling is continuing and we are excited about what we are seeing, we are also confident that these results are just the beginning as we continue to step out and test mineralisation down dip, along strike and parallel from Antoinette Central.

“We have two rigs operating on site and look forward to regularly reporting further drilling results, which will include ongoing results from Antoinette and results from the first holes drilled into the 8-kilometre-long Veronique high-tenor soil anomaly.”

Shallow high-grade intersections

The drilling targeted mineralisation from surface within the top 150 metres and intersected multiple shallow lodes which remain open in all directions.

Other shallow high-grade intersections from Antoinette Central include:

  • 23 metres at 3.89 from 120 metres;

  • 6 metres at 6.02 from 92 metres; and

  • 7 metres at 4.97 from 71 metres.

Gold mineralisation

A new parallel zone of bedrock gold mineralisation has also been identified at Antoinette West, 400 metres from Antoinette Central with five shallow RC holes drilled and up to 8 g/t gold returned.

The company is also progressing its first pass aircore drilling at Veronique with first results expected shortly.

- Jessica Cummins 

Quick facts: Exore Resources Ltd

Price: $0.08

Market: ASX
Market Cap: $34.92 m
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