Papillon Resources strengthens board with acting MD appointment ahead of maiden gold JORC Resource
Papillon Resources (ASX: PIR) has added strength to its board with an executive appointment as the company works towards delineating a maiden gold JORC Resource in mid-2012 at the Fekola Project in Mali, West Africa.
Robert Behets joins the board of Papillon as a non-executive director and also assumes the role of acting managing director while the recruitment process continues.
Behets has more than 24 years experience in the mineral exploration and mining industry and brings a combination of technical, commercial and managerial skills to Papillon.
He joins Papillon from Mantra Resources, where he played an instrumental role in that company’s founding, growth and development through to its acquisition by ARMZ for about A$1 billion in 2011.
Other previous roles include manager commercial for the St Ives Gold Operations and group manager of exploration, both for WMC Resources.
As acting managing director, Behets takes over from Alan Campbell. In his time as managing director, Campbell led Papillon through a period of exploration success and helped to grow shareholder value.
Papillon's Fekola Project is located in the same corridor as the Mali West regional gold province, which has more than 22 million ounces of gold within 60 kilometres.
Other projects in the vicinity include Randgold Resource's (LON: RRS) 11.5 million ounce Loulo project and AngloGold Ashanti's (NYSE: AU) 13.1 million ounce Sadiola project.
Earlier this month Papillon delivered further exceptional high grade gold intercepts from Fekola, with a peak intersection of 97.6 metres at 5.41 grams per tonne (g/t) from 182.5 metres.
Importantly this intersection ended in mineralisation, with the final 32 metres returning 11.37g/t gold to the end of the hole, highlighting that the ore body remains open and that grades could continue to increase at depth.
Additional broad diamond drilling results include; 22 metres at 5.24g/t gold from 164.1 metres; 48 metres at 2.49g/t from 139.0 metres; and 62 metres at 2.67g/t from 182.0 metres.
PIR Price at posting:
92.0¢ Sentiment: Buy Disclosure: Held
