HomeGoldToro Gold delivers positive infill drilling results and meets DFS expectations

Toro Gold delivers positive infill drilling results and meets DFS expectations

Senegal West African gold company Toro Gold has completed a shallow infill core drilling campaign at its wholly owned Mako project and to ensure its production start-up meets forecast expectations.

The work was completed through late 2015 and focussed on mineralisation scheduled to be mined during the first 18 months of production as detailed in the Mako definitive feasibility study (DFS).

Upon completion of the DFS in mid-2015, a review of the mine design and associated production schedule against the Mineral Resource was completed to ensure that the initial 18 months of forecast production was based on material classified as Measured Resource as defined under the JORC 2012 guidelines.

The review identified an area within the starter pit location that was supported by mineralisation classified as Indicated rather than Measured.

An infill core drilling campaign was designed to improve the geological confidence of this material and comprised 31 holes for a total 1 850 m in order to reduce the drill spacing across the starter pit area and volume to 20 m x 40 m. The results have now been received for the programme.

Highlights includes:

  • 46.5 m @ 4.2g/t Au from 3 m;
  • 44.5 m @ 3.9g/t Au from surface;
  • 45 m @ 3.2g/t Au from 21 m;
  • 39 m @ 3.5g/t Au from 35 m;
  • 36 m @ 3.4g/t Au from 45 m;
  • 46.5 m @ 2.5g/t Au from surface; and
  • 48.5 m @ 3.7g/t Au from surface.

“These latest drilling results continue to demonstrate the robust nature of the gold mineralisation at the Mako project. Focussing on the starter pit location, these results support the early stage production plan which benefits from early access to high grade ore at lower strip ratios which in turn underpins strong cash flow generation,” says Martin Horgan, CEO of Toro Gold.

“Optimisation work continues at the project as the company prepares for a construction decision pending the finalisation of the permitting and funding raising processes. We look forward to updating you in due course on the progress at Mako.”

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