re: Ann: Drilling started at Lingokoto gold p... Hello fellow...

re: Ann: Drilling started at Lingokoto gold p... Hello fellow traders

I thought I would follow up on my last post (26th Mar when it was 1.1c) about this company after I have done a bit more homework.

By the time you read this, drilling will be well underway at the Lingokoto Gold Project. We could be witnessing the discovery of a brand new major gold resource in Senegal.

Everyone knows about the monster 12m Au/oz RandGold Resources Loulo Mine a mere African mile away.

A friend of mine who was at the recent African Indaba Resources conference, said that the MD of TSX listed Teranga (The only producer in Senegal operating the 200koz/PA Sobadola Gold Mine) was talking to the Erin management team about potentially taking a cornerstone equity position in Erin. These funds would be used to prove up a resource should the current round of drilling demonstrate the potential to prove up a significant mineable resource near surface at Lingokto.

Further south, AIM listed Stratex International PLC has released very positive results from Dalafin – 59.6m from surface grading 2.2 g/t AU including 18m at 4.27 g/t AU. Dalafin’s drilling results have come from an inferior anomalous gold prospect compared to Erin’s Ligokto gold Project. Confirmed by the recent soil mapping program.

In the Exploration game, Nearology is one way to go about making a buck. I have attached my interpretation of Erin’s current aircore drilling program. As you can see they are putting drill lines through all the major surface anomalies at Longokoto. I totally agree with Harimo in that I very much doubt that Erin’s management will release single drill hole results. A more likely scenario is that they will consolidate the results by sections and give a more meaningful big picture view to the market when appropriate.

The good news is we shouldn’t have long to wait.

Cheers Dexter

Disclosure: I own ERI and options.