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AXMIN Inc. announced the initial results from the beginning of a proposed 10,000 metre core drilling program that is targeting resource expansion at its wholly-owned Komahun Gold Project in Sierra Leone.
Of the first 34 holes (5,077 metres), 15 holes have targeted infill drilling and the eastern strike extension at the Komahun Main Zone, and 19 holes will focus on the newly discovered Western Zone, which is thought to be the faulted extension of the Main Zone. Initial results from infill drilling at Main Zone continued to deliver good grades and confirmed that the deposit is open to the east, results include, 6.08 g/t Au over 24.8 metres, and 3.53 g/t Au over 12.5 metres and 4.39 g/t Au over 13.5 metres. First results in the Western Zone, defined by a 500 metre southwest trending gold soil anomaly and trenching, include 17.33 g/t Au over 2.5 metres. Full results for this phase of drilling are expected shortly. All intersections lengths reported in this Press Release are core length, see attached map for locations of drill holes.President and CEO of AXMIN, Mr. George Roach, comments, “We are encouraged that the initial results of the drilling campaign confirm the resource upside potential that exists at Komahun. In line with previously announced plans to spin-off AXMIN’s Sierra Leone assets into a publicly traded company, of which AXMIN will hold a controlling interest, we are pursuing an exploration program at Komahun to unlock the value of the asset held there. On completion of the spin-off, all funds advanced for the current exploration program at Komahun will be reimbursed to AXMIN, thereby allowing AXMIN to continue with its primary focus of developing the Passendro Gold project in Central African Republic.” Komahun contains 110,000 ounces measured and indicated resource with an average grade of 9.1 g/t Au, plus 435,000 ounces inferred resource at an average grade of 4.3 g/t Au. The next phase of drilling, planned to re-start in third quarter, will focus on depth extensions at Komahun Main Zone, potentially further defining the Western Zone and exploring the large Sendekor prospect. The Sendekor prospect, located 4 km to the southwest of Main Zone is defined by a banded iron stone ridge (“BIF”), elongated geochemical anomaly (+60 ppb) and trenching over a 2.8 km length. It is expected that the Company will initiate a resource update in the fourth quarter this year. Further information click here. |
