Junior explorer Amani Gold has uncovered high-grade gold while drilling the Peteku prospect at its Giro gold project in the Democratic Republic of the Congo.
The company today announced the return of assay results from a four-hole reverse circulation (RC) drilling campaign with significant intersections including 3m at 3.18 grams per tonne gold from 36m and 2m at 3.45g/t gold from 46m.
Other highlights included 8m at 1.24g/t gold from 63m, 6m at 1.13g/t gold from 62m and 1m at 3.39g/t gold from 102m.
The Peteku prospect is an active artisanal gold mining pit measuring about 50m by 40m and 20m deep, with miners primarily targeting oxide gold hosted by quartz veins.
This recent drilling had targeted near-surface gold mineralisation below a regional gold-in-soil anomaly.
Amani said since significant gold mineralisation was intersected in all four initial holes, a further drilling program of about 10 RC holes has been planned.
This additional drilling will target mineralisation along strike and deeper below the Peteku open pit.
The Peteku prospect is located about 4km south-west of the Kebigada gold deposit, which has been estimated to contain a resource of 45.62 million tonnes at 1.46g/t gold for 2.14 million ounces of gold at a cut-off grade of 0.9g/t gold.
Last month, Amani returned high-grade gold assays from deeper diamond core drilling at Kebigada with significant intersections including 4.5m at 4.63g/t gold from 31.5m and 38.5m at 2.22g/t gold from 278m.
These results followed the positive drilling assays returned from the deposit in late October.
The Giro gold project comprises two exploration permits covering 497sq km in the Kito-Moto Belt of the DRC.
Peteku and Kebigada are located within the same permit, PE5046.
In addition to Kebigada, Amani has outlined has a gold resource at the Douze Match deposit in PE5049, bringing Giro’s global resource to more than 3Moz gold.
First shipment from Geita gold trading hub
Amani also has a 60% equity interest in the Amago Trading joint venture, which has recently secured a gold dealer licence in the gold-rich Geita district of Tanzania.
At the start of December, Amani announced Amago had completed its first shipment of 6.77kg of gold (with a purity of 78%) from Geita to a Hong Kong refinery.
Amani said Amago’s new licence, which permits it to buy, sell or deal in gold, is expected to produce a substantial revenue stream for the company.
Source: Small Caps