Thursday, July 07, 2005 MOTO Gold Mines says it will have resource estimates next month for three of its prospects at its namesake project in the Democratic Republic of Congo, with drilling continuing to hit significant mineralisation.
Drilling at the Karagba prospect hit 6m grading 4.35 grams per tonne of gold, 24m at 3.74gpt gold, 34m at 2.76gpt gold, 10m at 2.61gpt gold and 48m at 2.06gpt gold. Moto said the mineralisation remained open downdip to the southeast and down plunge to the northeast.
Karagba currently has a resource of 3.3Mt at 2.9gpt for 308,000oz.
In addition drilling at the Sessenge prospect returned hits including 6m at 5.11gpt gold, 26m at 3.04gpt gold, 28m grading 3.58gpt gold and 30m grading 2.22gpt gold.
At the Pakaka prospect, a 10,000m-infill diamond drill campaign to enable a resource upgrade from inferred to indicated returned hits of 18m grading 6.12gpt gold and 6m at 6.05gpt gold.
Moto says upgraded resource estimates are due for the Karagba and Pakaka prospects in August, with an initial resource estimate expected for the Sessenge prospect around the same time.
In May, following 14 months of drilling, Moto upped the projects resources to 6.1 million ounces, incorporating estimates from the Karagba/Durba, Megi, Mengu Hill and Pamao prospects – giving the project an overall resource of 65.8 million tonnes grading 2.9 grams per tonne gold.
The majority of the resource estimate falls into the inferred category.
Meantime Moto said results from preliminary metallurgical testwork, coordinated by RSG Global, indicate recoveries for oxide samples from all deposits are generally at or above 90%, with fresh samples from the Pakaka and Pamao deposits exhibiting gold extractions above 80%.
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