Exploration on the Mine License produces 131 metres at 3.45 gpt gold and 87 metres at 3.11 gpt gold
November 2, 2011: Toronto, Canada – Teranga Gold Corporation (“Teranga” or “the Company”) is pleased to provide an update of its Mine License and Regional Exploration programs through the September quarter of 2011.
Highlights:
Exploration at the Sabodala Pit confirms the potential for higher grades in an expanded pit to depth and to the north – drilling intersected significant widths of high grade mineralization, including hole SBDH141D of 131 metres at 3.45 grams of gold per tonne (“gpt”) and SBDH143D of 87 metres at 3.11 gpt included in four mineralized zones, on the Main Flat Extension just outside the current pit design – the new high grade zones remain open down plunge and to the northwest. These grades are twice the current average reserve grade of 1.5 gpt at Sabodala.
Exploration drilling at Masato confirms the extension of the Masato deposit from the neighbouring property onto the Sabodala Mining Licence – including hole SMRC051D of 49 metres at 3.59 gpt in two mineralized zones and hole SMRC055D of 64 metres at 2.45 gpt in three mineralized zones – with significant potential for further upside as the deposit remains open at depth and along strike.
High-grade drill intersections at Gora continue to expand the potential footprint of the deposit. The deposit remains open in all directions.
Additional high-grade drilling results were received from a second regional deposit at Toumboumba.
Teranga plans to update reserves and resources at year end.
TGZ Price at posting:
$2.28 Sentiment: None Disclosure: Not Held
