Australian exploration company, Burey Gold Limited, has overcome poor weather in north-eastern DRC and is on track to produce planned results during the first quarter of 2015.

Extremes of wet weather and resulting wet ground conditions were encountered during the initial stages of the drilling programme and additional steel casing was required on site at the Giro Gold Project. However the first hole has been successfully drilled with dry samples recovered down to 120 meters.

Recent exploration very positive

The Giro Gold Project is located in the Moto Gold Belt, DRC in Central Africa. Giro is comprised of two exploitation permits covering a total area of 610 km2, which has been the subject of historical gold mining.

The Giro Project area had not been explored for more than 50 years (since the Belgian colonial era) with no modern exploration up to December 2013 when Panex conducted a 57-hole 2,888m reverse circulation (RC) drilling programme at the Giro Prospect.

Soil sampling and detailed geological mapping and sampling programmes have been completed at the Giro Prospect, designed to confirm the potential strike extent and continuation of gold mineralisation identified in initial earlier drilling at Giro.

First pass RC drilling completed recently identified gold mineralisation in two separate structures with significant results comprising 18m @ 7.8g/t Au, 23m @ 2.65g/t Au and 20m @ 4.15g/t Au. There is excellent potential for gold discovery at open pittable depths.

Both the Kibali and Giro projects occur within the Kilo-Moto Belt, one of the world’s principal greenstone belts, which also hosts AngloGold Ashanti’s deposits to the east and Loncore and Kilogold deposits to the south. Approximately 50Moz of gold has been discovered in the Tanzanian portion of the belt since 1994.

The company has decided to continue drilling the Giro Project over the festive period to catch up on the downtime created by the poor weather.