Red Rock Resources plc reported that three of four holes encountered gold and one intersected three gold mineralised zones from reverse circulation (RC) drilling at the Bilbale licence, southwest Burkina Faso.
LICENCES
Chairman Andrew Bell added that the mineralisation included a high grade zone near surface.
The assets are held by Faso Greenstone Resources SARL (FGR), a wholly owned subsidiary of Faso Minerals Ltd, which is itself 100% owned by Red Rock.
FGR has two prospective project areas in the Boromo and Banfora greenstone belts.
BILBALE
FGR conducted a seven-hole RC drill programme for 778 metres at the 183.62 km² Bilbale project area.
Received results are from 447 samples from the four-hole programme at the Djikologo target.
Best results from BilR22-03 drillhole include:
– 20m at 3.19 g/t gold from 22m, including 3m at 8.17 g/t and 5m at 4.66 g/t
– 8m at 2.28 g/t gold from 62m, including 3m at 4.72 g/t
– 2m at 1.25 g/t gold from 118m to end of hole (hole ended in mineralisation)
BilR22-01 drillhole results included:
– 9m at 0.37 g/t gold from 6m, including 3m at 0.78 g/t from 12m depth
FURTHER DRILLING
Red Rock is awaiting results from a further 378 samples from a three-hole programme at the Bilbale artisanal area target.
FGR plans to undertake ground geophysics followed by further drill testing.
Mr Bell said that a further ten to twelve targets at Bilbale had yet to be drill tested.
Three of the targets had been identified, through surface sampling and from some limited rock exposure, as “very prospective especially in the south of the licence”.
“Highly prospective” targets at the Boulon are also untested by drilling.
ECONOMIC DISCOVERY
Following acquisition of the Bilbale licence, the company conducted some geochemistry and mapping before moving directly to scout drilling in order to meet the licence’s spending obligations as renewal was approaching.
“No ground geophysics was carried out, and we had to be guided by the pattern of previous artisanal activity and by the limited and large scale airborne geophysics in selecting the location of our drill holes,” added Mr Bell.
“These first results are better than we could have expected, and if replicated in future holes, could lead to the declaration of an economic discovery.”
Red Rock also plans to raise funds for independent listing of its Burkino Faso assets similar to the company’s Cote d’Ivoire subsidiary.