() (OTCMKTS:EEYMF) (FRA:N9F) has recommenced work at the Koting Deposit and received gold results described as “very positive” from Pit 5 Prospect, both at the operational Morila Gold Project in Mali.
Additional drilling has commenced at Koting in a bid to better define this highly variable deposit while the Morila Pit 5 is anticipated to provide early feed as part of the ramp-up of production.
Life-of-mine plan
Firefinch executive chairman Dr Alistair Cowden said: “We have recommenced work on our Koting Deposit with the view that Koting will provide future supplementary early feed to the nearby Morila mill.
“With the same goal, we completed an infill program at the Pit 5 Prospect, which has yielded very positive results.
“Once resource models have been completed and pit designs completed, both prospects will be incorporated in our life-of-mine plan and provide flexibility in the operational ramp‐up.
“We look forward to keeping our shareholders updated on further progress.”
Koting drill results
All assay results have been received from the reverse circulation (RC) drill program and better results include:
- 8 metres at 8.25 g/t from 28 metres, including 3 metres at 17.30 g/t gold;
- 8 metres at 1.97 g/t from 101 metres; and
- 8 metres at 2.90 g/t from 26 metres.
Recently received results from the southern section of Koting suggest that the mineralised structures continue to the SSE, towards the K2 prospect where drilling is planned later in the year.
Most intersections are modest grade with sporadic high grades present.
Geostatistical evaluation of the distribution of gold indicates a highly variable deposit requiring infill drilling to better delineate near‐surface mineralisation, especially the high-grade zones, and to enable reliable estimation of mineral resources and subsequent ore reserves.
Infill drilling has commenced with two RC rigs working and the program is expected to take three weeks to complete.
Assay turnaround time from the independently operated on‐site laboratory at Morila is about two to three weeks.
Morila Pit 5 results
The geology of the Pit 5 is the same as the broader Morila mineral resource, with stacked shallow to flat lying mineralised lodes.
All assay results have now been received from the short reverse circulation drilling program and better results include:
- 7 metres at 5.72 g/t from 15 metres, including 4 metres at 9.48g/t;
- 6 metres at 2.77 g/t from 1-metre, including 1-metre at 13.3g/t;
- 9 metres at 1.13 g/t from 25 metres; and
- 5 metres at 1.74 g/t from 6 metres, including 2 metres at 3.72g/t.
Pit 5 as a standalone project
The Pit 5 mineralisation was not included in the Morila mineral resource and a separate resource model is being prepared.
Due to the shallow nature of the mineralisation identified and the proximity to the processing plant, the Pit 5 Prospect will be evaluated as a standalone project independent of the main Morila resource and is anticipated to provide another source of early mill feed in the ramp‐up of the Morila Project.
