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Equator Resources expands gold mineralisation in West Africa

Published: 20:40 19 Aug 2013 EDT

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Equator Resources (ASX:EQU) has revealed more promising assay results from a 28 hole reverse circulation drilling program within the Bukon Jedeh licence area, extending the mineralised zone from Main Ridge to the 99 Steps and Ballah Camp prospects.

Mineralisation was intersected in the majority of the holes drilled. As with earlier drilling, many intercepts appear  related to an intrusive granitic body.

Higher grade intercepts included:

1 metre at 9.72 grams per tonne of gold from 86 metres, at Main Ridge
1 metre at 16.6 grams per tonne from 40 metres, at 99 Steps
6 metres at 2.03 grams per tonne from 33 metres, including 1 metre at 8.35 grams per tonne from 37 metres, at Ballah Camp.

Importantly, Wider intercepts of lower grade, anomalous halo mineralisation within the granitic body were also recorded in three holes at 99 Steps.

These thicker zones had not been encountered previously at the project and included 75 metres from surface at 0.4 parts per million gold, 78 metres from 36 metre depth at 0.44 parts per million, and a 39 metre interval from 63 metres at 0.55 grams per tonne.

Based on the first two phases of drilling at Bukon Jedeh, there appears to be potential for large tonnage, modest grade gold system within a granitic host, similar to the intrusion related gold system at the Fort Knox gold mine in Alaska.

If confirmed, this would be a positive step for Equator, which has a market cap of $1.9 million.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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