Credo Resources (ASX: CRQ) is having some exploration success at the recently acquired Burkina Faso based permits, where importantly artisanal gold workings highlight known gold in the area.
Sampling is continuing, and to date has produced a gold-in-soil anomaly with a peak value of 654ppb gold. The anomaly appears to be extensive, and extends for over 1.2 kilometres in strike length at above 20ppb.
Credo added that the anomaly appears to be open in a number of directions, with more results forecast for delivery in around a week.
Robert Kirtlan, a director of the company, commented: “it is exciting to see positive results from our very first sampling program.
"The financing arrangement with Credo was finalised on 30th November 2011, soil sampling programs commenced in December, and first results received in February. This demonstrates the excellent support services we can access in Burkina Faso."
Highlighting the prospectivity of the area, the permit Tyegana‐1 is along the same structural corridor as the Taparko gold mine which hosts 1.2 million gold ounces, and Essakane with 9 million gold ounces.