Roxgold Inc. (TSX: ROXG)
Announced new exploration drilling results from the Company’s Boussoura Project, located on the Houndé Greenstone Belt in southern Burkina Faso.
| Roxgold | TSX : ROXG |
| Stage | Production + exploration |
| Metals | Gold |
| Market cap | C$536 m @ C$1.45 |
| Location | Ghana, Ivory Coast, and Burkina Faso |
Comment
We normally only follow companies with projects in tier 1 countries, which we define as Australia, Canada, Chile, Mexico, and the USA. There are plenty of good projects in these countries, and a good legal jurisdiction.
Africa is considered too risky for some investors, but there is a small enclave of countries on the west coast of Africa that have all the attributes of a tier 1 country. The countries are; Ghana, Mali, Ivory Coast, and, to a slightly lesser extent (due to a few terrorists), Burkina Faso.
Roxgold are already successfully producing gold in Ghana, developing a second mine in the Ivory Coast, exploring in Burkina Faso, and doing everything in the right way, so very worthy of inclusion on our watchlist.
Roxgold News – Announces Drill Results from the Boussoura Project, Burkina Faso
Roxgold Inc. (“Roxgold” or the “Company”) (TSX: ROXG) (OTCQX: ROGFF) is pleased to announce new exploration drilling results from the Company’s Boussoura Project, located on the Houndé Greenstone Belt in southern Burkina Faso.
This press release features multimedia. View the full release here
Figure 2. Fofora Plan View of Identified Veining Corridors and Drill Plan
Boussoura Project, Burkina Faso:
Highlights from scout Reverse Circulation (“RC”) and Diamond Core (“RD”) drilling
Fofora – Fofora Main
- 10.7m at 5.6 g/t Au in drill hole BSR-20-RD-FFR-106 from 103m including
- 1m at 27.4 g/t Au from 103m
- 3.9m at 14.4 g/t Au in drill hole BSR-20-RD-FFR-107 from 96.4m including
- 1m at 52.3 g/t Au from 97.8m
- 15.0m at 1.9 g/t Au in drill hole BSR-20-RC-FFR-100 from 82m
- 18.9m at 1.3 g/t Auin drill hole BSR-20-RC-FFR-98 from 112m
Fofora – VC2
- 5m at 17.0 g/t Au in drill hole BSR-20-RC-FFR-142 from 59m including
- 2m at 40.9 g/t Au from 60m
- 8m at 7.4 g/t Au in drill hole BSR-20-RC-FFR-150 from 100m including
- 1m at 48.9 g/t Au from 105m
- 10m at 2.0 g/t Au in drill hole BSR-20-RC-FFR-134 from 28m, followed by separate intervals of:
- 14m at 3.6 g/t Au from 44m, and
- 3m at 15.6 g/t Au from 79m
- 23m at 2.0 g/t Au in drill hole BSR-20-RC-FFR-143 from 41m
- 19.4m at 1.1 g/t Au in drill hole BSR-20-RD-FFR-120 from 55.4m, followed by a separate interval of:
- 5.4m at 5.4 g/t Au from 166m
Galgouli
- 7m at 15.8 g/t Au in drill hole BSR-20-RD-GAL-037 from 199m including
- 4.7m at 23.7 g/t from 199m
- 3m at 21.3 g/t Au in drill hole BSR-20-RC-020 from 47m including
- 1m at 54.5 g/t from 47m
- 3m at 11.7 g/t Au in drill hole BSR-20-RC-019 from 105m including
- 1m at 30.9 g/t from 105m
- 2m at 8.4 g/t Auin drill hole BSR-20-RC-032 from 57m
Management comments
“The Boussoura Project is Roxgold’s advanced stage exploration project that is rapidly defining mineralization over multiple areas demonstrating its large-scale potential. In addition to positive new gold intercepts which expand the Fofora Main footprint at Boussoura, today’s announcement also includes high grade drill results from VC2, a new discovery located less than 500 metres to the west of Fofora Main.
“A year ago, Roxgold announced the discovery of the Boussoura Project and has since drilled over 150 holes with consistent assay returns demonstrating broad intersections of mineralization with lower grade halos surrounding higher grade quartz veins – characteristic of the style of mineralization found within the prolific Houndé Gold Belt.
The Boussoura Project is still in its early days, yet we are growing more confident in the scale of this project, with a large land package host to numerous veined corridors running over extensive strike lengths and with numerous targets identified between Fofora and Galgouli with similar geochemistry and geophysical anomalies. We will continue to keep the drills turning at Boussoura, as we look to continue to expand and define the mineralized footprint towards the goal of a maiden resource by year end.”
John Dorward, President and CEO.
“Drilling since September has included growing the footprint of Fofora Main where we are seeing additional parallel veins to the immediate east with multiple intervals returned from drilling and giving us confidence as we head towards a maiden inferred resource by year end.
I am also excited to see the success in scout drilling, testing the numerous targets within the vein corridors to the west of Fofora Main which continues to highlight the potential of this large 9 km2 artisanal field, with the new VC2 prospect shaping up as the next candidate with results such as 14m at 3.6g/t Au from 44m in BSR-20-RC-FFR-134, 5m at 17.0 g/t Au from 59m in BSR-20-RC-FFR142 and 23m at 2.0g/t Au from 41m in BSR-20-RC-FFR-143.
In addition, results from extensions at Galgouli support the high-grade potential of this prospect, and where ongoing auger soil geochemistry results continue to highlight regional anomalism.”
Paul Weedon, Vice President Exploration
For brevity, this summary has been abridged, to read the full news release, please click HERE
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