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Perseus Mining leveraged to high-grade gold results from West African project

Published: 18:36 13 Nov 2018 EST

Gold nuggets
Drilling has returned “anomalous to significant intercepts”.

Perseus Mining Limited (ASX:PRU) is leveraged to high-grade gold results returned by Manas Resources Limited (ASX:MSR) from the M’bengué project in northern Côte d’Ivoire, West Africa.

Results from the maiden drilling program of 13 holes for 1,312 metres have confirmed the presence of “significant” gold mineralisation, often over substantial widths.

They have also been “highly successful” in providing a greater understanding of the geological setting and mineralisation style at M’bengué.

Manas earning 70%

Manas is earning a 70% interest in the project from Perseus subsidiary Occidental Gold SARL by sole-funding exploration.

At Turaco prospect seven holes were drilled for 772 metres with best results of 1 metre at 14.8 g/t from 87 metres, 9 metres at 5.05 g/t from 60 metres and 21 metres at 2.11 g/t from 7 metres.

Madala prospect returned an intercept of 7 metres at 7.54 g/t from 46 metres, La Vieux prospect’s best result was 1 metre at 12.6 g/t from 9 metres and Burkinabe prospect best was 1 metre at 4.14 g/t from 12 metres.

READ: Perseus Mining achieves strong cash flow from gold sales in West Africa

Manas chairman Alan Campbell said: “Based on the very limited amount of diamond drilling undertaken, the results are encouraging as all four prospects drilled returned anomalous to significant intercepts with only one hole failing to intercept +1 g/t gold mineralisation.”

READ: Perseus Mining exploration increases gold reserves at Sissingué mine

M’bengué is about 6 kilometres north of Randgold Resources Limited’s (LON:RRS) Tongon mine and 90 kilometres southeast of Perseus Mining’s Sissingué mine.

The permit covers an area of just under 400 square kilometres over the highly prospective Senoufo greenstone belt.

READ: Perseus Mining new scoping study supports Yaouré going underground as well

Campbell added: “These results support the company’s view that the M’bengué licence has the potential to host a significant gold deposit.

“The presence of multiple intercepts from a limited amount of shallow drilling into widely spaced targets within proximity of the world-class Tongon gold mine is noteworthy.

“In addition to the encouraging diamond drilling results, we have also identified several new targets for further exploration.”

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on 10/23/2023