Alecto Minerals’ recent surface sampling strategy has discovered more evidence of gold at their Kossanto Gold Project, West Mali.
Prospecting at the Gourbassi East Main Zone uncovered high grade mineralisation while trenching to the south of the Main Zone unveiled a new 150 metres (m) long belt.
Soil work around the Gourbassi East site exhibited low order morphic signals of approximately 2.5 kilometres (km) strip length and over 100m width. Alecto will now execute rotary air blast (RAB) drilling using their own devices and a 100 line-km magnetic evaluation above the highest gold-in-soil anomalies.
Mark Jones, Alecto’s chief executive officer, stated: “The Kossanto Gold Project in Mali has a solid resource of 107,000 ounces of gold at our Gourbassi East target and good prospects in new locations, as further exhibited by these latest prospection results.
“The new mineralisation within the existing resource region increases further confidence in our near term goal of boosting our gold assets and the detection of fresh traces across the wider tenure is exhilarating, especially given that a number of large-scale gold reserves found in the area thus far are connected with broad-scale soil anomalies at or above the 50ppb Au [parts per billion gold] threshold.”.
Alecto has also released 130.4 mln new shares with regards to its acquisition of AME West Africa, a stock subscription by Savannah Resources and a transformation of debt to equity by Fahad Al Tamimi.
Alecto Minerals plc is an Africa-centered, gold and base metal expedition firm, cited on AIM, with exploration initiatives in Mali, Mauritania and Ethiopia.
The progressive expansion of the Kossanto Gold Project in Mali is the Corporation’s major operational interest and with considerable value upside opportunity noticeable throughout the tenure.
Alecto even has a joint venture with Centamin plc over 2 potential gold discovery licences in Ethiopia which sees Alecto retain exposure to the deposits without any financial expenditure, along with the entirely owned Wad Amour IOCG Project in Mauritania which is at exploration status.
Integrated, these campaigns provide the firm with a sturdy, varied stock portfolio with remarkable prospection opportunities.