Modern Mining September 2021

REGIONAL FOCUS – WEST AFRICA

The targets are adjacent to open pits mined by Resolute between 2017 and 2018. Reverse circulation (RC) drilling targeting oxide mineralisation extensions and conceptual targets at Syama North commenced in 2020 with excel- lent results reported in April 2020. Exploration has continued in 2021 with RC drill programmes at Syama North designed to outline mineable oxide resources. Mineralisation typically occurs within shear zones and around shallow west dipping lithological contacts, in the same manner as the main Syama orebody and the Syama North satellite deposits. Deeper sulphide mineralisation is open down dip and remains a target for future exploration. The results confirm coherent zones of gold min- eralisation south of the Beta oxide pit and north of the BA01 oxide pit. Drilling density is sufficient to undertake resource modelling and pit optimisation which will be carried out prior to making a decision to recommence open pit mining. RC drilling at the A21 area similarly intersected zones of oxide mineralisation adjacent to existing open pits. Drilling undertaken in 2021 has identified oxide and sulphide mineralisation to the east and west of the open pits related to gold lodes in the hanging wall and footwall of the previously mined zones. Garalo-Ntiela Gold Project Meanwhile, work continues at Contango Holdings Plc’s Garalo-Ntiela Gold Project area in southern Mali. Aeromagnetics and airborne geophysics for the collection of magnetic and radiometric data commenced at the start of July 2021 and have been completed across both licences as planned. Results from the survey were expected in early August 2021. It is important to remember that the project has been drilled extensively previously and as such the collection of this data was to further aid direct mine planning activities and support the proj- ect’s accelerated development into production. The survey did however also target some as yet untested areas within the project area, par- ticularly at Ntiela where exploration work earlier this year yielded very encouraging results. The company believes the results of these studies will outline extensions of the G1 and G3 deposits, previ- ously identified as showing the potential to host in excess of 1,8 Moz of gold. Ground-based induced polarisation (IP) is expected to commence upon receipt and interpretation of this new data in early August 2021. The project camp is nearing completion, support- ing the permanent presence of up to 20 employees and contractors, along with a secure storage building for drill core. Expectation remains that Garalo-Ntiela will merit the development of a processing hub capable of supporting multiple open pit operations

successful with multiple, very high-grade intersec- tions returned from drilling down dip and outside the current resource model. These drill results extend the high-grade zone down dip by a further 150 m and it is expected that the mineral resources will be significantly increased when next estimated later in 2021. Key drilling results received this year include:  TADD841 8 m @ 28 g/t from 383 m  13 m @ 14,52g/t from 397 m

Alpha, Beta and BA-01 pit imagery, geology and drillhole locations.

 TADD842 20 m @ 3,94 g/t from 398 m  TADD848 12 m @ 4,44 g/t from 164 m  TADD954 9 m @ 17,42 g/t from 415 m  TADD968 18 m @ 36,77 g/t from 416 m  TADD984 4 m @ 27,65 g/t from 159 m  TADD987 10 m @ 10,86 g/t from 341 m  TADD996 32 m @ 2,14 g/t from 239 m

Meanwhile, the drilling programme for the remainder of 2021 will continue to infill and expand the high-grade mineralisation underneath the South Pit. A drill density of 50 m centres will be required to classify the new zone as indicated resources. Due to the high-grade nature and the shallow location of this zone it is expected that underground mining activities will concentrate on this zone in the early years of production. Oxide exploration opportunities at Syama A re-evaluation of the Syama Shear Zone north of Syama identified several targets for follow up drilling.

26  MODERN MINING  September 2021