TNM Drill Down features highlights of the top gold assays of the past week (Apr. 21-28). Drill holes are ranked by gold grade x width, as identified by our sister company Mining Intelligence.
The week’s top assay came from Fiji, at Lion One Metals’ (TSXV: LIO) construction-stage Tuvatu project. Hole TGC-0034 cut 5.7 metres (5.1 metres estimated true width) of 88.07 grams gold per tonne for a grade x width of 502. The hole, drilled as part of a closely spaced grade-control program, was one of multiple bonanza-grade holes at the URW1 lode, 120 metres east of the URA1 lode, where mining has already started.
The URW1 lode is a north-south-striking, steeply dipping narrow high-grade vein system that has been defined along 300 metres north-south and 300 metres vertical extent.
Ore is being stockpiled for processing at the project’s plant, which is scheduled for startup in the fourth quarter.
The company has started mine development at the underground project, with first production starting at 300 tonnes per day (for around 24,000 oz. gold per year) expected in December.
Tuvatu hosts indicated resources of 1 million tonnes grading 8.48 grams gold per tonne for 274,600 oz. Inferred resources add 1.3 million tonnes grading 9 grams gold for 384,000 ounces.
Collective Mining (TSXV: CNL) had the week’s next best assay at its Guayabales project in Colombia. Hole APC-42 at hit 104.8 metres of 4.21 grams gold per tonne, 68 grams silver and 0.3% copper (5.56 grams gold equivalent) from surface for a width x grade of 441.
Hope APC-42 was one of two scout holes designed to test for high-grade mineralization at the eastern contact zone between breccia and porphyry vein stockwork mineralization, which the company theorized could act as a metals trap for base metals veins entering the system. As well as confirming that theory, Collective says the hole expanded the Apollo porphyry system modestly to the southwest. The deposit currently measures 395 metres by 385 metres by 915 metres and is open for expansion.
The company has three rigs operating at Apollo, and plans to add a fourth during the second quarter, with plans to complete 30,000 metres of drilling this year.
B2Gold (TSX: B2O) reported the third-best assay for the week at the Mamba zone in Mali, 25 km north of its Fekola gold mine. Hole MSD-241 hit 46.4 metres of 8.6 grams gold per tonne starting from 443.3 metres depth for a grade x width value of 399. The company said the hole, located in the Anaconda area of its claims, confirms continuity of the high-grade sulphide shoot in the Mamba Main zone below the previously defined resource.
The company has completed 39,000 metres of infill drilling at Anaconda so far this year, out of a larger 178,000 metres planned for the entire Fekola complex.
An updated resource estimate for the Anaconda area, incorporating another 120,000 metres of drilling, is on track for the second quarter. The area, which contains the Menankoto and Bantako North permits, has a January 2022 pit-constrained indicated resource of 32.4 million tonnes grading 1.08 gram gold per tonne for 1.1 million oz. Inferred resources add 63.7 million tonnes at 1.12 grams gold for 2.3 million oz.
B2Gold is also studying the viability of a standalone mill and oxide processing facilities at Anaconda, with results expected in the fourth quarter.
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