Embracing the cyclical nature of the mining sector
LGN Holdings (BVI) Inc.
2.7km shear zone, drilling includes 18m @ 2.02g/t Au
Resource (Non 43-101)
Ind: 0.24Moz @ 0.94g/t & Inf: 0.35Moz @ 1.03 g/t
Next Phase of Work:
RAB and Auger drilling
Joint Venture Partner:
The 100km2 Tabakorole project is located in southern Mali, approximately 280km south of the capital Bamako. The project sits on the Massagui Belt which hosts the 7.0Moz Morila gold mine operated by Randgold Resources Ltd. Exploration to date has identified a 2.7km long shear zone which is up to 200m wide and hosts a mineral resource (Table 1). Historic drilling results to date include 2.02g/t Au over 18m and 1.22g/t Au over 25m (Table 2). A qualified person has not completed sufficient work to classify the historical estimate as current mineral resources or mineral reserves. The Company has not verified this historic data and the Tabakarole project does not have an NI 43-101 compliant reserves or resource.
Table 1: Tabakarole project mineral resource (not in accordance with NI 43-101)
A regional soil sampling programme completed on a 500m x 100m grid defined a strong gold in soil anomaly at Tabakorole. The programme was completed by BHP in the early 1990s. Since 2003 a total of 28,912m of diamond, 31,943m of RC, 6,577m of auger and 60,676m of air core drilling have reportedly been completed in addition to 1,400 line-km of airborne geophysics. A more recent 14 hole RC infill drilling program (totalling 741m) has reportedly confirmed the continuity and grade of oxide mineralization at Tabakorole, as projected from the deeper sulphide intersections. The next phase of work is expected to include scoping studies and resource definition drilling.