Alecto Minerals, the AIM-quoted mineral exploration company focused on West and East Africa, is pleased to announce an updated independent resource estimate 80% resource estimate increase for its wholly owned 207 km2 Kossanto Gold Project in the prospective Kenieba Inlier in western Mali. This has been prepared following completion of the recent drilling at the Gourbassi East and Gourbassi West targets.
“This significant 80% increase in the inferred resource estimate for the Kossanto Project represents another key exploration milestone for the company as we continue to prove up the economic potential of this exciting gold project. The inferred resource estimate of 193,000 ounces of gold has been delineated over two (Gourbassi East and West) of the three main target areas at the Kossanto Project, highlighting the continued potential for further significant resource upside,” said Alecto CEO Mark Jones.
The two target areas which comprise the current Gourbassi resource are just 3.7km apart and therefore, from a practical mining perspective, can be viewed as a single project. The combined resource is near surface (less than 100m deep) and we believe is likely to provide no significant metallurgical challenges.
“In terms of additional upside potential in the near-term, Gourbassi West consists of two proven zones of mineralisation, which we have tested using RAB drilling for continuity. Initial results are highly encouraging and we are now completing an infill RC drill programme seeking to demonstrate the continuity between the zones which should then allow for one larger target zone at Gourbassi to be defined with increased tonnage and resource opportunity,” adds Jones.
“Interestingly, excluding our highly prospective Massakama prospect to the west of the Kossanto Project licence area, the value of the estimated in-situ gold is now over US$250 million which again underpins the economic potential of the Kossanto Project as we continue to explore and unlock its inherent value.”
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