Modern Mining January 2019

MINING News

Sampling programme by Orca identifies large anomaly our primary focus on Block 14 in the Sudan. “Following on the early success at Morondo, our discovery of a broad soil anomaly in the highly prospective Korokaha North permit clearly demon- strates the quality of our strategic property portfolio in Côte d’Ivoire. This discovery is

of significance given its close proximity to Randgold’s Tongon mine (15 km). The next steps for Orca in Côte d’Ivoire are to deliver a PEA on Morondo, further define the anomalies at Korokaha North and con- tinue the systematic assessment of our extensive property portfolio.” „

Orca Gold Inc, listed on the TSX-V, reports that an initial sampling programme on its 100 %-owned Korokaha North gold proj- ect in Côte d’Ivoire has outlined an 8 km by 1 km soil anomaly. The programme conducted at Korokaha North, which is Orca’s second exploration permit, follows the company’s success in defining a maiden 1,2 Moz inferred min- eral resource at the Koné prospect in the Morondo exploration permit. Gold mineralisation at Morondo was first discovered by Red Back Mining in 2010. Soil sampling at Korokaha North, based on an 800 m by 50 m grid, has defined a large anomaly over an 8 km strike length and up to 1,15 km wide (at +20 ppb Au). Within this broad envelope, coherent anomalies of +50 ppb Au up to 4 km in strike length are clearly defined. Orca, whose prime asset is the Block 14 gold project in Sudan, holds a portfolio of three exploration permits and seven permit applications in Côte d’Ivoire. Following the acquisition of this portfolio from Kinross in October 2017, exploration initially focused on the delineation of a mineral resource at the Koné prospect. Commenting on the new discovery, Hugh Stuart, President and Director of Orca Gold, said: “Our aim in Côte d’Ivoire is to systematically work through our property portfolio with an aim to add value for Orca shareholders whilst not detracting from

Algold gets more time to complete study Algold Resources, listed on the TSX-V, reports that the Mauritanian Ministry of Oil, Energy and Mines has granted a 12-month extension to the Corporation for the com- pletion of the Tijirit gold project feasibility study.

which Algold owns 75 %, the Government of Mauritania holds 15 % and Wafa Mining and Petroleum has 10 %. This is an impor- tant endorsement for Algold and we are grateful for the Government of Mauritania’s continued strong support.” Over the past 30 months, Algold has suc- cessfully completed several key milestones including: acquiring Tijirit; several rounds of financing to raise over $25 million, with $7,9 million from Mauritanian partners; 75 000 m of drilling in four phases; fil- ing of an NI 43-101 resource report and a Preliminary Economic Assessment; and receipt of a 30-year mining lease from the Government of Mauritania. The Tijirit project encompasses an area measuring more than 750 km 2 , which is comprised of the 306-km 2 Tijirit exploita- tion licence and the 460-km 2 Tijirit East exploration licence. The project is situ- ated approximately 25 km south-east of the Tasiast gold mine. Exploration is being carried out on the Eleonore, Sophie I, Sophie II-III, Lily and SVS zones. „

At Algold’s request, the Government of Mauritania granted an extension for the delivery of the feasibility study. This will allow Algold to pursue more technical work, including drilling, metallurgy and hydro- geology, which can potentially expand the project’s scope and resources. The feasibility study was originally scheduled for comple- tion by the end of 2018. “Algold and the Government of Mauritania have always worked closely together in the development of the Tijirit gold project,” said Benoit LaSalle, Algold’s Chairman and CEO. “The extra time pro- vided by the extension will allow for more technical work to be performed, which is yet another illustration of the synergy and team spirit created by the establishment of the TIREX Gold Company, a partnership in

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