TMS 3.70% 2.8¢ tennant minerals limited

Diakouli gold prospects

  1. 928 Posts.
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    I know that everyone is focused upon the cobalt acquisition,but I was just rereading the last quarterly
    and the Company is planning a 5000 m auger drilling program on its Burkina Farso tenements.

    Straws recently commented that DP has high expectations for this project too.

    Diakouli Gold Project, Burkina Faso

    During the September Quarter the Diakouli Exploration Permits, comprising Daikouli East, Diakouli West and Diakouli South were provisionally renewed for a period of 9 years as two separate tenements one in the name of Blina Minerals SA and the other in the name of SEB SA, the private Company of Mr B Traore. Blina has a joint venture with Mr Traore under which the Company may earn an 80% interest by spending US$500,000 over 4 years. Current expenditure is about US$370,000. The delay in renewal of the licenses was due to introduction of the new Mining Code in Burkina Faso.

    Blina has high regard for the exploration areas and as previously reported in the March 2017 Quarterly Report has carried out a complete review of the previous exploration work which has confirmed the potential of the areas. The largely soil covered mafic intrusive and volcanic rocks of the Birimian greenstones lie 20km north of the multimillion ounce Natougou gold mine and many gold-in-soil anomalies in transported soils point to sources of gold within the exploration permits. Several exploration targets have been delineated from geophysical interpretation adjacent to domal structures. The Natougou gold mineralization is located on the flank of domal structure within a flat dipping northwest structure in sheared mafic rocks.

    Blina had previously planned a 5,000m auger drilling programme which was delayed pending the renewal of the licenses and geopolitical problems. The Company will now look to implement this programme as soon as feasible.
 
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