General 2015-05-10The Lingokoto exploration permit 10333 (Lingokoto Permit) isheld by AfriGem SL (Afrigem). Pursuant to the terms of a joint venture agreement with AfriGem, Erin holds an 80% interest in the Lingokoto Permit and is required to sole fund all exploration expenditure until completion of a bankable feasibility study. The Lingokoto Permit covers an area of approximately 157 km2 and is located near the border with Mali, approximately 14 km west of the operational Loulo Gold Mine, a 100 million tonne deposit at greater than 4g/t Au. The Loulo Mine is situated in a similar geological setting to that which is present within the Lingokoto Permit. Erin has completed regional geological and regolith mapping together with regional soil sampling on an 800 metre by 800 metre grid. Anomalous areas have been defined from the regional soil sampling programme (red zones). Lower order anomalies are defined due to the thick cover that exists throughout the permit area. There is no evidence of modern exploration having taken place within the licence. The gold anomalism occurs over extensive areas of the volcano-sedimentary rocks and is crossed by northeast trending structures. Elevated boron values are coincident with the gold anomalies occurring within the andesite volcanics and the calcareous volcaniclastics. Elevated boron levels are potentially indicative of the occurrence of tourmaline. The gold mineralisation at the Loulo Mine has a close association with tourmaline. The presence of areas of un-explored anomalous gold geochemistry within a structural and geological setting having analogies to the nearby major gold mining operation provides a high quality exploration target for further evaluation.
Nearby Location News
Alecto, Ashanti to jointly develop Mali-based Kossanto project 2016-08-22To further develop the 247 00 oz Mali-based Kossanto East gold project, owner Alecto Minerals has signed a nonbinding letter of intent (LoI) with TSX-V-listed Ashanti Gold. The Canadian exploration and development company now has the right to earn a 65% stake in the project by completing a preliminary feasibility study (PFS) within 36 months. Should Ashanti not complete the PFS within the allocated time, it may instead elect to pay $4-million to Alecto within 90 days.
Sofia, Senegal: 16m grading 12.33g/t Au from 8m (SFRC073) 2016-08-04
Endeavour exceeds 2015 production guidance 2016-01-15TSX-listed Endeavour Mining has exceeded its 2015 production guidance, CEO Neil Woodyer announced this week. Endeavour’s five mines, which included the Ity mine since November, produced 517 948 oz of gold in 2015, exceeding the targeted guidance of between 475 000 oz and 500 000 oz.
Teranga Gold Announces Receipt of Environmental Approval for High-Grade Gora Deposit 2015-03-16
Gora is the first deposit to be discovered on Teranga's large regional land package
Alecto to develop gold projects with Desert Gold 2015-03-09Aim-listed mineral exploration company Alecto Minerals has signed a cooperation agreement with TSX-listed Desert Gold to jointly develop the Farabantourou gold permit and the Kossanto East gold project, in Mali, and bring them into production. “With a combined estimated indicated and inferred resource of over 365 000 oz gold and falling within a 10 km radius of each other, we believe there is significant scope to develop the Kossanto East and Barani East deposits into a commercial mining opportunity. Accordingly, working in collaboration through the sharing of information and resources with Desert Gold marks a significant step towards achieving this goal,” Alecto CEO Mark Jones said in a statement on Monday.