From the ASX Announcement 23-Apr-12 “NEW GOLD DISCOVERY – BOUNGOU GOLD PROSPECT, SOUTH-EAST BURKINA FASO”
“The Natougou-trend soil anomaly has been defined to date over a 750 metre strike length. The anomaly is open-ended to the north-east at the limit of soil sampling. Additional soil sampling has been completed at Natougou to seek to extend the anomaly to a minimum 1.5 kilometre strike length. Assay results are pending.”
Looking at only the 0.50gm/t Au cutoff grade (pink) in the Natougou Area cross section, Fig 3, assuming this is typical along strike, and using the grades and intersection lengths given, I estimate there are 280k oz Au over 750 m and if the structure is the same in the second half, 560k Oz Au over the 1.5 km strike length.
There may be more gold there than you would think at quickly reading the report and a potentially significant addition to MET’s future resource.
So who is selling at reduced prices?
MET Price at posting:
41.0¢ Sentiment: Hold Disclosure: Held
