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Vital Metals on a high-grade gold streak in Burkina Faso

The highlight was: 17 metres at 6.0g/t gold from 114 metres.

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More assays are pending from Kollo South

Vital Metals (ASX:VML) now has reverse circulation assays starting to flow through from the wholly-owned Kollo Gold Project in Burkina Faso.

The importance of the intersections is that they delivered grade and width, with more results pending in the near-term.

Highlights included: 17 metres at 6.0g/t gold from 114 metres, including 2 metres at 30.5g/t gold.

The high-grade gold mineralisation is on the contact of an intensely sheared graphitic marker unit.

Kollo is located on the highly prospective Markoye Fault Corridor which hosts West African Resources’ (ASX:WAF) high grade 2.2 million ounce Sanbrado Gold Project.

Mark Strizek, managing director, commented:

"The gold mineralisation reported is located on the northern side of a contact with an intensely sheared graphitic marker unit that has been mapped for over 400 metres at Kollo South.

"We are seeing continuity of high grade mineralisation along strike on the clearly visible graphitic contact as we progress drilling on 50 metre sections from west to east and we are currently awaiting assay results from three reverse circulation holes that have intersected the contact."

Vital is well-funded after recently raising $5 million in a heavily oversubscribed placement.


Why Burkina Faso

Burkina Faso continues to emerge as a key gold producing country with a mining friendly government, and is now the fourth largest producer in Africa, with seven gold mines commissioned over the past decade.


Next steps for Vital

Vitals exploration program has been designed to test the contact zone over at least 300 metres on 50 metre sections from west to east at drill depths ranging from 150 metres to 250 metres.

Four reverse circulation holes have been completed, with assays for three of these pending.

A further eight holes that have been drilled or are being drilled will require diamond drill tails due to high water inflows that prevented the holes from hitting target depths with the reverse circulation rig.

A diamond rig has been secured and is expected to be on site this week to complete these holes.


Analysis

Vital is positioned to deliver considerable news flow from exploration activities in Burkina Faso, with these programs fully-funded.

Next up, preparations are underway to begin first pass reverse circulation drilling at Kollo Hill, a 1 kilometre strike length on the Kollo shear zone between Kollo Central and Kollo North that has never been tested.

The company also recently added to its board experience with the appointment of Francis Harper as a non-executive director.

Harper is the founder and director of Blackwood Capital and has extensive experience in West African mining, having served as chairman and as a major shareholder of West African Resources between 2009 and 2015.

Blackwood Capital has raised over $1 billion for smaller companies over the last 15 years, and manages the Blackwood Small Cap Companies Fund.

Quick facts: Vital Metals Limited

Price: 0.022 AUD

ASX:VML
Market: ASX
Market Cap: $47.41 m
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