Ashanti Gold Inc (CVE:AGZ) has reported further encouraging drilling results at its Kossanto East project in western Mali.
The company released additional results from its recently completed 105-hole reverse circulation and diamond drill 12,000-metre drill program.
WATCH: Ashanti Gold CEO reports 'high-grade, very big interval' drill results from Mali gold project
Mineralization results at holes in the Gourbassi East main zone showed multi-metre, multi-gram intercepts with local high grade zones.
Highlight assays included 12 metres (m) at 0.72 g/t (grams per ton) gold and 2m at 2.29 g/t gold — both from one hole.
Reverse circulation results included 2m at 5.00 g/t gold and 8m at 5.48 g/t gold.
“Great results with more coming as the laboratory in Bamako continues to send Ashanti assay data. Looking forward to sharing more data and sections as they are available." said chief executive officer Tim McCutcheon.
The company said holes tested mineralization down dip, along strike and along section fences will provide sufficient data for a resource estimate later this year.
Additionally, and important to note, the reported intervals lie along zones of mineralization that has been previously drilled, which will help support geologic and resource modeling.
Further results expected soon
The Kossanto East Project, located in the Kedougou - Kenieba rock grouping, is host to the Loulo and Sadiola group of world-class deposits.
There are two drill-tested targets at the project: Gourbassi East and Gourbassi West. Previous explorers have identified anomalies, which were drilled and showed mineralization and further results from both targets are expected in the next few weeks.
Shares of Ashanti Gold were flat at C$0.14 on Tuesday.