I've had a bit of a read through some more old Randgold anns and found some more items of interest circa 2006 re drilling around the Morila mine. Randgold seemed to believe at the time, that there was potential in the area judging by the amount of drilling undertaken. I have added a few of the more poignant excerpts below.
Q4 2005 In South Mali, we have started a hyperspectral study over Morila and surrounding area with the aim of identifying spectral and structural signatures associated with the mineralisation as well as remodelling of our geophysical data to develop a three dimensional model and the identification of conceptual targets for drilling by the second quarter of 2006. At Morila, an exploration strategy has been developed with the primary aim of providing an assessment of the full global upside resource potential within the greater Morila lease area which will in turn drive future mine planning. A 40 000 metre regional drilling tender has been awarded to Boart Longyear and will start in 2006. A 40 000 metre plus regional exploration programme is currently underway which aims to find another Morila within the 200km2 lease area. Only a few results have been obtained to date, the most interesting being SED002 which was drilled on the edge of the possible extension of the high grade axis identified in the pit. While economic mineralisation was not encountered, a broad anomalous halo with 10 metres at grades greater than 1g/t has given encouragement to pursue this target further. Q3 2006 At Morila, drilling continued as part of the 40 000 metre regional drilling programme, although failing to intersect further high grades, the results continue to define the low-grade footprint. In South Mali, Randgold has been exploring on its permits immediately adjacent to its Morila mine for several years. The techniques used to date have been successful in locating mineralised structures such as Ntiola and Kona. However, so far no economic mineralisation resembling the Morila deposit has been located. A 3 000 metre diamond drilling programme was completed before the wet season and has highlighted areas with geological, structural and metamorphic similarities to the Morila enclave. To complement the data from this drilling programme, a ground gravity survey across the Morila area permits will be carried out in the final quarter of the year. Q4 2006 At Morila the regional drilling completed 89 holes for 44 045 metres. The results, although failing to identify an additional deposit, have so far intersected the low-grade (plus 0.1g/t) footprint to the deposit. This data will be used as a vector for follow-up holes to target for higher-grade mineralisation. Q1 2007 At Morila, further research has confirmed mineralisation in a multistage intrusion related gold system. The regional drilling programme is complete and although the next Morila evades detection the mine is currently integrating all the layers of information: geology, structure and assay results, to generate a three dimensional exploration model with vectors to drive future drill programmes.
BGS Price at posting:
1.7¢ Sentiment: Hold Disclosure: Held
