Papillon Resources (ASX: PIR) continues to deliver wide, high grade gold intercepts at the Fekola discovery from infill drilling, extending its continuity to over 1,600 metres strike length.
Highlights of the intercepts within broad anomalous gold zones include:
- 24 metres at 8.44 grams per tonne (g/t) gold from 14 metres, including 9 metres at 15.27g/t gold; - 18 metres at 4.03g/t gold from 34 metres; and - 59 metres at 4.86g/t gold from 152 metres, including 12 metres at 13.12g/t.
Mineralisation remains open along strike and at depth at the project located on the Senegalo/Malian Shear Zone in Mali, where in excess of 42 million ounces of gold has been discovered.
Papillon has tenements extending over 25 kilometres strike length of the shear zone and these results would boost confidence that the company has located a very robust mineralisation system, the limits of which are still to be defined.
The company has proceeded to systematic drilling of the Fekola discovery to complete a minimum 80 metre line-spacing, over 1,600 metres of strike.
Further drilling, and particularly diamond core is required to build a better understanding of the geological controls, but results to date point to substantial exploration upside at Fekola and elsewhere along the structural trend.
In addition to the analytical results from Fekola, anomalous analytical results were also obtained from scout drilling rotary air blast testing soil geochemical anomalies, along strike in the Fekola Corridor .
The results were in excess of 10 times background values and confirm that the surface anomalies are potentially located on mineralised structures. Further exploration drilling with air core or reverse circulation will be undertaken on these targets in the next field season.
The current wet season has halted drilling activities. Multiple drill rigs, including two multi-purpose reverse circulation / diamond drill rig, have been secured for use from an expected October re-start through to June 2012.
Future exploration will include infill and step out drilling at the Fekola discovery which remains open to the north and south along strike and at depth.
Infill and extension drilling in the Fekola Corridor is planned to determine the near surface resource potential along the zone, and in particular the 3 kilometres immediately north of the Fekola discovery.
Preliminary metallurgical test work from selected reverse circulation drill samples from Fekola will be undertaken.
The company is also planning air core drilling of regional targets generated from ground geophysical surveys, geological targets and geochemical anomalies.
There will also be an extension of the IP-Gradient survey and gold-in-soil geochemistry.
Further results are pending from infill drilling at Fekola and other prospects.
PIR Price at posting:
55.0¢ Sentiment: LT Buy Disclosure: Held
