After starting the phase 2 drilling on June 29, 2021, Polymetals has drilled a total of 5,200 metres consisting of 68 air core holes (AC) for 4,840 metres and three reverse circulations (RC) holes for 360 metres.
Deeper than anticipated weathering has resulted in softer drilling conditions and has significantly reduced the intended use of RC drilling in favour of the lower cost and faster AC drilling.
The company plans to complete at least an additional 2,000 metres of AC drilling based on geological interpretations and site geologist recommendations.
Testing new priority targets
Polymetals Resources CEO Alex Hanly said: “The soft drilling conditions at Alahiné North has provided greater than anticipated AC depths and increased drilling rates.
“Momentum will be maintained as we move to Alahiné South with a minimum additional 2,000 metres targeting existing geochemical anomalies in addition to testing new priority targets in areas never previously drilled.”
Polymetals has delivered the first shipment of samples from the phase 2 drilling to the SGS laboratory in Bamako, Mali, and is expecting initial results by mid-August while the results of more than 7,000 samples are likely to be out during September.
Analyses of samples from the drilling will allow the company to process the results and plan the next step in its Siguiri Basin exploration strategy.
Well-fund to carry out exploration
Polymetals’ additional AC drilling will continue to test artisanal gold workings, areas enclosed by 40 parts per billion-gold-in-soil contour and new priority targets recently identified.
Following the completion of its $5.2 million initial public offer and subsequent listing in June 2021, the company is well funded to accelerate exploration at Alahiné.