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Projects & Royalties

Sebessounkoto Sud

Project: Sebessounkoto Sud
Commodity: Gold
Royalty: 2.5 % NSR
Subsidiary: LGN Holdings (BVI) Inc.
Location: Western Mali
Deposit Style: Shear-hosted gold (Birimian greenstone belts)
Key Attributes: Extensive hard-rock artisanal gold mining activity
Asset Stage: Reconnaissance trenching
Results: 61 m @ 0.6 g/t Au (trench)
Next Phase of Work: Reconnaissance drilling
Deal Partner: Desert Gold (TSX-V:DAU)
Deal Terms: 3M shares + US$50k + milestones + 2.5 % NSR

Project Overview

The 28.0km2 Sebessounkoto Sud project is located approximately 15km south east of the Diba project and hosts a 2.7km long gold in soil anomaly as well as a number of active and historic artisanal workings which are up to 150m long and 40m deep. Trenching results, undertaken by LSE listed Randgold Resources (LSE: RRS), which had a joint venture with Legend Gold Corp on the project, reportedly returned up to 0.68g/t Au over 61.4m. The joint venture between Legend and Randgold ended in 2016. Project is currently being operated by Desert Gold (https://www.desertgold.ca/).

  • Project Overview
    Project Overview
  • Regional Geochemistry
    Regional Geochemistry
  • Soa Gold Prospect
    Soa Gold Prospect

Exploration Programme

A regional soil sampling programme completed by previous owners of the project on a 500m x 250m (and in places 250m x 100m) grid identified a number of gold in soil anomalies. The programme was completed between 2005 and 2007 and along with subsequent auger programmes and termite mound sampling a 2.7km long northeast striking anomaly has been defined.

Ground induced polarisation (IP), high resolution resistivity + induced polarisation (HIRIP) and ground magnetics surveys were completed by Terra Tec Mali Sarl between 2006 and 2007. A regional airborne VTEM surveying was then completed by Geotech Airborne Limited in 2008 followed by a ground gravity survey.

Mapping, prospecting and the investigating of recently opened artisanal workings has been undertaken by the Company. Spoil (waste material) and termite mound sampling has defined the 2.3km long Soa gold prospect. The Company has also recorded numerous and often interlinked vertical shafts as well as open pits excavations, the largest of which measures approximately 150m long and 40m deep. Artisanal mining was observed to focus on saprolite along a NNE striking, near vertical to shallow west dipping, brittle-ductile shear zone. The activity has exposed multiple alteration zones typically associated with shallow dipping en-echelon shear zones and stockworks, comprised of ‘smoky quartz’. Spoil from the workings yielded values of 5.18g/t, 3.98g/t & 2.4g/t Au. Historic rock chip samples from Soa include 18.5 g/t Au and 12g/t Au, with a historic channel sample results of 61.4m @ 0.68 g/t Au (including 17.6m @ 1.38g/t Au). Separately a review of the historic VTEM data has identified an approximately 6.3km long NNE striking anomaly roughly 850m west of and parallel to the Soa prospect.

The next phase of work at Sebessounkoto Sud is expected to include trenching and auguring, in addition to further surface mapping and sampling along the geophysical target.

  • Artisanal workings
    Artisanal workings
  • Investigating spoil
    Investigating spoil
  • Newly opened trench
    Newly opened trench

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