Teranga Gold has made two new gold discoveries at Golden Hill, its joint venture project in Burkina Faso in partnership with ASX-listed Boss Resources.

Burkina Faso – Dual-listed West African gold company Teranga Gold’s new discoveries, made during its latest exploration programme, are located within the Ma and Nahiri prospects, representing the first two of the ten drill ready targets that have been identified to date at Golden Hill. All ten targets are within close proximity to each other.

The Golden Hill property is located within the highly mineralised Houndé Greenstone Belt in Burkina Faso. This belt hosts a number of high-grade gold discoveries, including the recently discovered Siou, Yaramoko and Houndé deposits, the latter property being contiguous with Golden Hill.

To the south of Golden Hill is another large land position where active exploration programmes are well underway.

“The assay results for Ma and Nahiri are very encouraging for an early stage exploration programme,” says Teranga Gold exploration VP David Mallo, adding that they display good grades, widths, continuity and strike length. The mineralised zones occur from surface with good oxide depth developed.

Additionally, the next two targets – Jackhammer Hill and Pourey-Peksou – were also drilled during the first quarter. Teranga Gold notes that while these assay results are pending, drilling intersected the expected alteration and structures at each of these targets.

“Overall, we are excited by these positive results, especially given their close proximity to one another. Based on the success of this first phase, a multi-drill second phase programme on these targets has begun,” says Mallo.

Ma prospect

At the Ma prospect, 13 diamond drill (DD) holes were completed to test the primary NW-trending Ma structure, a secondary, parallel, NW-trending structure and N-S trending cross-structures. To date, a 1 300 m strike extent of the primary Ma structure has been successfully intersected in all eight of these holes over varying spacing.

Initial assays from the Ma prospect intersected favorable results over the minimum 1 300 m strike extent drilled to date. Highlight results include:

  • 6.5 m @ 2.67 g/t Au and 3 m @ 8.86 g/t Au in GHDD-010
  • 9.8 m @ 1.92 g/t Au including 5.3 m @ 2.62 g/t Au in GHDD-011
  • 7.9 m @ 2.71 g/t Au in GHDD-015
  • 5.2 m @ 5.15 g/t Au in GHDD-017
  • 4.9 m @ 3.64 g/t Au in GHDD-020

A follow-up drill program is scheduled to begin in early May to further evaluate the strike extent on regularly spaced sections, extend drilling further along trend and test depth extensions below the initial drill holes.

Nahiri prospect

At the maiden Nahiri prospect, 17 reverse circulation (RC) drill holes were completed in four drill profiles designed to test a 500 m strike extent of a combined soil and auger geochemical anomaly. Three of the northernmost drill profiles, comprising a minimum 350 m strike extent, returned the most favorable results, within a broadly anomalous gold zone.

The initial drilling evaluation at the Nahiri prospect intersected broad, highly anomalous intersections within which highlight intervals include:

  • 14 m @ 2.85 g/t Au including 5 m @ 6.56 g/t Au and 18 m of 1.46 g/t Au including 4 m @ 2.38 g/t Au in GHRC-011
  • 13 m @ 1.56 g/t Au including 6 m @ 2.23 g/t Au in GHRC-010
  • 12 m @ 1.25 g/t Au including 3 m @ 2.28 g/t Au in GHRC-001
  • 12 m @ 1.06 g/t Au and 1 m @ 11.00 g/t Au in GHRC-015

Golden Hill project at a glance

Golden Hil is comprised of three adjacent exploration permits covering 468km2. Teranga Gold, through the acquisition of Gryphon Minerals Ltd, has an earn-in agreement with Boss pursuant to which Teranga Gold, as the operator, can earn an 80 percent interest in the joint venture upon delivery of a feasibility study and the payment of A$2.5 million.