Algold Extends High Grade Salma Vein to 3 km Strike
(Thomson Reuters ONE) -
MONTREAL, Oct. 03, 2017 (GLOBE NEWSWIRE) -- ALGOLD RESOURCES LTD. (TSX-
V:ALG) ("Algold" or the "Corporation") today announced assay results, including
high grade values of 100 g/t Au and 89 g/t Au, from rock chip panel (1m(2))
sampling carried out on the new Salma vein at the Corporation's Tijirit project
in Mauritania. Assay results from the samples, which were gathered during recent
systematic 50 meters spaced pitting and trenching exploration activities, extend
the known gold mineralized structure to 3 kilometers on strike.
Highlights
* 100 g/t Au - In-pit (10 meters below the surface), 1 m(2) panel sample
* 100 g/t Au - In-pit (7 meters below the surface), 1 m(2) panel sample
* 88.9 g/t Au - In-pit (9.5 meters below the surface), 1 m(2) panel sample
* 25 samples grading higher than 10 g/t Au - 1 m(2) panel samples
* 75 samples grading higher than 1.0 g/t Au - 1 m(2) panel samples
* Average grade of 10.0 g/t Au (104 rock chip samples)
* Average grade of 13.3 g/t Au for samples grading >1 g/t Au (75 rock chip
samples)
Trenching and Pitting Program
Assay results grading up to 100 g/t Au and 88.9 g/t Au were recorded from a
series of pits dug over a 3 kilometers strike (Figure 1). The Salma vein
represents the newest high-grade discovery at Tijirit, located only five
kilometers from the Eleonore and the Lily veins. The Salma vein has now been
traced over a three-kilometer-long mineralized gold structure situated on the
prospective granite-greenstone contact zone. Results from the Salma vein were
not included in Algold's most recent NI 43-101 technical report.
The results from the rock-chip-sampling program continue to demonstrate the
significant potential for the identification of additional high-grade gold zones
throughout the more than 25-kilometer-long Eleonore corridor. The 104 rock chip
samples, which were gathered over an area of 1x1 meters, taken at the base of a
series of 1-to-10-meter-deep pits, were collected during detailed mapping
traverses. Importantly, of the 104 samples, 25 samples assayed graded higher
than 10 g/t Au with 75 grading over 1.0 g/t Au.
The pitting and trenching sampling was carried out during the month of August
2017, concurrently to Algold's Phase III drilling program, which also concluded
during the month. Algold expects to receive additional results from its Phase
III drilling program assays in the coming weeks, approximately 5,000 of which
are still pending.
Granite Contact Zone
The eastern boundary of this contact is located 3.6 kilometers east of Eleonore
and extends to the north for approximately nine kilometers. Auriferous quartz
veins have been identified over much of this contact, located within a potential
"pressure shadow" setting. All of these results are sited outside the area of
the mineral resources currently defined on the property (reference: Algold's
press release dated June 15, 2017).
"These results highlight the compelling potential of the new Salma vein to
rapidly add substantial high-grade resources at the Tijirit Project," said
Algold CEO, Francois Auclair. "We continue to focus on building and expanding
upon the existing and new mineralized zones, which are all within very close
proximity."
Detailed geological descriptions of all mineralized zones can be found on
Algold's website (www.algold.com) and on SEDAR (www.sedar.com) in the report
entitled "Algold 43-101 Technical Report: Tijirit Maiden Mineral Resources
Estimates for the Tijirit Gold Project in Mauritania".
Quality Assurance / Quality Control (QA/QC)
Analytical work for drill core and chips, geochemical samples and rock chip
samples is being carried out at the independent SGS Laboratories Ltd. in Bamako,
Mali. The 50 g fire assay with ASS finish analytical services are accredited by
SANAS and are carried out with a quality assurance protocol in line with ISO
17025:2005. Samples are stored at the Corporation's field camps and put into
sealed bags until delivered by a geologist on behalf of Algold to the laboratory
in Bamako, Mali, where samples are prepared and analyzed. Samples are logged in
the tracking system, weighed, dried and finely crushed to better than 70%,
passing a 2 mm (Tyler 9 mesh, US Std. No.10) screen. A split of up to 1,000 g is
taken and pulverized to better than 85%, passing a 75-micron (Tyler 200 mesh)
screen, and a 50-gram split is analyzed by fire assay with an AA finish.
This press release has been reviewed for accuracy and compliance under National
Instrument 43-101 by André Ciesielski, DSc., PGeo., Algold Resources Ltd Lead
Consulting Geologist and Qualified Person, and Alastair Gallaugher, C.Geo.
(Chartered Geologist and Fellow of the Geological Society of London), BSc.
Geology, Algold's Exploration Manager in Mauritania, Qualified Persons as
defined by NI 43-101 Standards of Disclosure for Mineral Projects. André
Ciesielski has further approved the scientific and technical disclosure in the
news release.
ABOUT ALGOLD
Algold Resources Ltd. is focused on the exploration and development of gold
deposits in West Africa. The board of directors and management team are seasoned
resource industry professionals with extensive experience in the exploration and
development of world-class gold projects in Africa.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
For further information, please contact:
Algold Resources Ltd.
1320, boul. Graham, Suite 132, Mont-Royal, Québec, H3P 3C8, www.algold.com
François Auclair M.Sc., PGeo
President & Chief Executive Officer
f.auclair(at)algold.com
+1 (514) 889 5089
Alex Ball
Executive VP, Finance and Corporate Development
a.ball(at)algold.com
+1 (647) 919 2227
Table 1 - Gold Assay Results (Reference: Figure 1)
+---------+----------+-----------+--------+-----------+-----------+--------+---+
| | Easting | Northing | | | | Strike | |
|Sample ID| UTM | UTM |Au (g/t)|Description| Comments | (RHR) |Dip|
+---------+----------+-----------+--------+-----------+-----------+--------+---+
| | | | | | 11 meter | | |
| A10118 | 487283 | 2257314 | 100.0| Qtz vein | pit | 176 | |
+---------+----------+-----------+--------+-----------+-----------+--------+---+
| | | | | | 7.2 meter | | |
| A10180 | 487513 | 2258923 | 100.0| Qtz vein | pit | 170 | |
+---------+----------+-----------+--------+-----------+-----------+--------+---+
| | | | | | 9.5 meter | | |
| A10176 | 487543 | 2258771 | 88.9| Qtz vein | pit | 115 |52 |
+---------+----------+-----------+--------+-----------+-----------+--------+---+
| A10183 | 487307 | 2258309 | 53.9| Qtz vein |5 meter pit| 180 |44 |
+---------+----------+-----------+--------+-----------+-----------+--------+---+
| A10184 | 487288 | 2258355 | 52.7| Qtz vein |4 meter pit| 170 |60 |
+---------+----------+-----------+--------+-----------+-----------+--------+---+
| A10188 | 487284 | 2258403 | 39.2| Qtz vein |5 meter pit| 164 | |
+---------+----------+-----------+--------+-----------+-----------+--------+---+
| A10123 | 487282 | 2257373 | 33.4| Qtz vein |8 meter pit| 184 | |
+---------+----------+-----------+--------+-----------+-----------+--------+---+
| | | | | | 8.5 meter | | |
| A10114 | 487274 | 2257258 | 31.8| Qtz vein | pit | 190 |50 |
+---------+----------+-----------+--------+-----------+-----------+--------+---+
| | | | | | 7.3 meter | | |
| A10101 | 486924 | 2256066 | 31.5| Qtz vein | pit | 170 |50 |
+---------+----------+-----------+--------+-----------+-----------+--------+---+
| | | | | | 7.7 meter | | |
| A10156 | 487406 | 2258112 | 29.2| Qtz vein | pit | 182 |42 |
+---------+----------+-----------+--------+-----------+-----------+--------+---+
| A10103 | 486968 | 2256449 | 25.8| Qtz vein |7 meter pit| 176 | |
+---------+----------+-----------+--------+-----------+-----------+--------+---+
| A10097 | 486911 | 2255830 | 23.0| Qtz vein |5 meter pit| 170 | |
+---------+----------+-----------+--------+-----------+-----------+--------+---+
| | | | | | 11 meter | | |
| A10119 | 487283 | 2257314 | 23.0| Qtz vein | pit | 176 | |
+---------+----------+-----------+--------+-----------+-----------+--------+---+
| A10162 | 487409 | 2258219 | 23.0| Qtz vein |5 meter pit| 165 | |
+---------+----------+-----------+--------+-----------+-----------+--------+---+
| | | | | | 10 meter | | |
| A10126 | 487280 | 2257407 | 20.5| Qtz vein | pit | 185 | |
+---------+----------+-----------+--------+-----------+-----------+--------+---+
| A10181 | 487307 | 2258309 | 19.9| Qtz vein |5 meter pit| 180 |44 |
+---------+----------+-----------+--------+-----------+-----------+--------+---+
| A10186 | 487288 | 2258355 | 16.0| Qtz vein |4 meter pit| 170 |60 |
+---------+----------+-----------+--------+-----------+-----------+--------+---+
| | | | | | 8.5 meter | | |
| A10135 | 487355 | 2257600 | 15.1| Qtz vein | pit | 182 | |
+---------+----------+-----------+--------+-----------+-----------+--------+---+
| | | | | | 7.5 meter | | |
| A10130 | 487300 | 2257466 | 14.7| Qtz vein | pit | 180 | |
+---------+----------+-----------+--------+-----------+-----------+--------+---+
| | | | | | 7.7 meter | | |
| A10154 | 487406 | 2258112 | 14.1| Qtz vein | pit | 182 |42 |
+---------+----------+-----------+--------+-----------+-----------+--------+---+
| A10165 | 487414 | 2258278 | 13.8| Qtz vein |7 meter pit| 192 |40 |
+---------+----------+-----------+--------+-----------+-----------+--------+---+
| A10182 | 487307 | 2258309 | 13.6| Qtz vein |5 meter pit| 180 |44 |
+---------+----------+-----------+--------+-----------+-----------+--------+---+
| | | | | | 8.5 meter | | |
| A10134 | 487355 | 2257600 | 13.4| Qtz vein | pit | 182 | |
+---------+----------+-----------+--------+-----------+-----------+--------+---+
| | | | | | 10 meter | | |
| A10143 | 487361 | 2257827 | 11.4| Qtz vein | pit | 185 | |
+---------+----------+-----------+--------+-----------+-----------+--------+---+
| | | | | | 5.3 meter | | |
| A10159 | 487413 | 2258170 | 11.4| Qtz vein | pit | 180 |50 |
+---------+----------+-----------+--------+-----------+-----------+--------+---+
| | | | | | 7.7 meter | | |
| A10153 | 487406 | 2258112 | 9.69| Qtz vein | pit | 182 |42 |
+---------+----------+-----------+--------+-----------+-----------+--------+---+
| | | | | | 8.5 meter | | |
| A10115 | 487274 | 2257258 | 8.89| Qtz vein | pit | 190 |50 |
+---------+----------+-----------+--------+-----------+-----------+--------+---+
| | | | | | 7.3 meter | | |
| A10102 | 486927 | 2256061 | 8.6| Qtz vein | pit | 170 |50 |
+---------+----------+-----------+--------+-----------+-----------+--------+---+
| | | | | | 8,5 meter | | |
| A10116 | 487274 | 2257258 | 8.49| Qtz vein | pit | 190 |50 |
+---------+----------+-----------+--------+-----------+-----------+--------+---+
| A10096 | 486911 | 2255830 | 7.83| Qtz vein |5 meter pit| 170 | |
+---------+----------+-----------+--------+-----------+-----------+--------+---+
| A10124 | 487282 | 2257373 | 7.09| Qtz vein |8 meter pit| 184 | |
+---------+----------+-----------+--------+-----------+-----------+--------+---+
| A10167 | 487414 | 2258278 | 6.85| Qtz vein |7 meter pit| 192 |40 |
+---------+----------+-----------+--------+-----------+-----------+--------+---+
| | | | | | 10 meter | | |
| A10125 | 487280 | 2257407 | 6.55| Qtz vein | pit | 185 | |
+---------+----------+-----------+--------+-----------+-----------+--------+---+
| | | | | | 10 meter | | |
| A10127 | 487280 | 2257407 | 5.9| Qtz vein | pit | 185 | |
+---------+----------+-----------+--------+-----------+-----------+--------+---+
| A10094 | 486915 | 2255757 | 5.4| Qtz vein |6 meter pit| 178 | |
+---------+----------+-----------+--------+-----------+-----------+--------+---+
| A10150 | 487391 | 2258016 | 5.36| Qtz vein |3 meter pit| 166 |52 |
+---------+----------+-----------+--------+-----------+-----------+--------+---+
| A10099 | 486922 | 2255857 | 5.3| Qtz vein |3 meter pit| 176 |70 |
+---------+----------+-----------+--------+-----------+-----------+--------+---+
+---------+----------+-----------+--------+-----------+-----------+--------+---+
| | Easting | Northing | | | | Strike | |
|Sample ID| UTM | UTM |Au (g/t)|Description| Comments | (RHR) |Dip|
+---------+----------+-----------+--------+-----------+-----------+--------+---+
| | | | | | 5.5 meter | | |
| A10169 | 487425 | 2258381 | 5.09| Qtz vein | pit | 162 | |
+---------+----------+-----------+--------+-----------+-----------+--------+---+
| A10108 | 487526 | 2257083 | 4.79| Qtz vein |8 meter pit| 188 |52 |
+---------+----------+-----------+--------+-----------+-----------+--------+---+
| A10121 | 487282 | 2257373 | 4.78| Qtz vein |8 meter pit| 184 | |
+---------+----------+-----------+--------+-----------+-----------+--------+---+
| | | | | | 7.7 meter | | |
| A10155 | 487406 | 2258112 | 4.6| Qtz vein | pit | 182 |42 |
+---------+----------+-----------+--------+-----------+-----------+--------+---+
| | | | | | 10 meter | | |
| A10142 | 487361 | 2257827 | 4.59| Qtz vein | pit | 185 | |
+---------+----------+-----------+--------+-----------+-----------+--------+---+
| | | | | | 3.2 meter | | |
| A10193 | 487266 | 2258459 | 4.59| Qtz vein | pit | 120 |58 |
+---------+----------+-----------+--------+-----------+-----------+--------+---+
| A10187 | 487288 | 2258355 | 4.38| Qtz vein |4 meter pit| 170 |60 |
+---------+----------+-----------+--------+-----------+-----------+--------+---+
| | | | | | 3.2 meter | | |
| A10192 | 487266 | 2258459 | 4.09| Qtz vein | pit | 120 |58 |
+---------+----------+-----------+--------+-----------+-----------+--------+---+
| | | | | | 8.5 meter | | |
| A10113 | 487274 | 2257258 | 4.07| Qtz vein | pit | 190 |50 |
+---------+----------+-----------+--------+-----------+-----------+--------+---+
| A10122 | 487282 | 2257373 | 3.83| Qtz vein |8 meter pit| 184 | |
+---------+----------+-----------+--------+-----------+-----------+--------+---+
| A10110 | 487526 | 2257083 | 3.82| Qtz vein |8 meter pit| 188 |52 |
+---------+----------+-----------+--------+-----------+-----------+--------+---+
| A10107 | 487504 | 2256905 | 3.29| Qtz vein |7 meter pit| 176 | |
+---------+----------+-----------+--------+-----------+-----------+--------+---+
| | | | | | 7.5 meter | | |
| A10174 | 487440 | 2258441 | 3.17| Qtz vein | pit | 220 | |
+---------+----------+-----------+--------+-----------+-----------+--------+---+
| A10095 | 486911 | 2255830 | 3.08| Qtz vein |5 meter pit| 170 | |
+---------+----------+-----------+--------+-----------+-----------+--------+---+
| A10149 | 487393 | 2258019 | 3.04| Qtz vein |3 meter pit| 166 |52 |
+---------+----------+-----------+--------+-----------+-----------+--------+---+
| | | | | | 5.3 meter | | |
| A10160 | 487413 | 2258170 | 3.03| Qtz vein | pit | 180 |50 |
+---------+----------+-----------+--------+-----------+-----------+--------+---+
| A10166 | 487414 | 2258278 | 2.85| Qtz vein |7 meter pit| 192 |40 |
+---------+----------+-----------+--------+-----------+-----------+--------+---+
| A10104 | 487504 | 2256905 | 2.83| Qtz vein |7 meter pit| 176 | |
+---------+----------+-----------+--------+-----------+-----------+--------+---+
| | | | | | 11 meter | | |
| A10120 | 487283 | 2257314 | 2.78| Qtz vein | pit | 176 | |
+---------+----------+-----------+--------+-----------+-----------+--------+---+
| | | | | | 10 meter | | |
| A10141 | 487361 | 2257827 | 2.76| Qtz vein | pit | 185 | |
+---------+----------+-----------+--------+-----------+-----------+--------+---+
| A10131 | 487331 | 2257509 | 2.64| Qtz vein |1 meter pit| 185 |40 |
+---------+----------+-----------+--------+-----------+-----------+--------+---+
| A10191 | 487284 | 2258403 | 2.49| Qtz vein |5 meter pit| 164 | |
+---------+----------+-----------+--------+-----------+-----------+--------+---+
| | | | | | 11 meter | | |
| A10117 | 487283 | 2257314 | 2.24| Qtz vein | pit | 176 | |
+---------+----------+-----------+--------+-----------+-----------+--------+---+
| A10146 | 487399 | 2257968 | 2.22| Qtz vein |6 meter pit| 160 |70 |
+---------+----------+-----------+--------+-----------+-----------+--------+---+
| | | | | | 10 meter | | |
| A10144 | 487361 | 2257827 | 2.11| Qtz vein | pit | 185 | |
+---------+----------+-----------+--------+-----------+-----------+--------+---+
| A10145 | 487399 | 2257968 | 1.9| Qtz vein |6 meter pit| 160 |70 |
+---------+----------+-----------+--------+-----------+-----------+--------+---+
| A10164 | 487409 | 2258219 | 1.83| Qtz vein |5 meter pit| 165 | |
+---------+----------+-----------+--------+-----------+-----------+--------+---+
| A10190 | 487284 | 2258403 | 1.83| Qtz vein |5 meter pit| 164 | |
+---------+----------+-----------+--------+-----------+-----------+--------+---+
| | | | | | 10 meter | | |
| A10128 | 487280 | 2257407 | 1.58| Qtz vein | pit | 185 | |
+---------+----------+-----------+--------+-----------+-----------+--------+---+
| A10189 | 487284 | 2258403 | 1.55| Qtz vein |5 meter pit| 164 | |
+---------+----------+-----------+--------+-----------+-----------+--------+---+
| | | | | | 7.5 meter | | |
| A10129 | 487300 | 2257466 | 1.53| Qtz vein | pit | 180 | |
+---------+----------+-----------+--------+-----------+-----------+--------+---+
| | | | | | 2.4 meter | | |
| A10140 | 487347 | 2257713 | 1.5| Qtz vein | pit | 190 |52 |
+---------+----------+-----------+--------+-----------+-----------+--------+---+
| A10147 | 487399 | 2257968 | 1.33| Qtz vein |6 meter pit| 160 |70 |
+---------+----------+-----------+--------+-----------+-----------+--------+---+
| | | | | | 5 meters | | |
| A10112 | 487273 | 2257234 | 1.23| Qtz vein | pit | 182 |44 |
+---------+----------+-----------+--------+-----------+-----------+--------+---+
| A10105 | 487504 | 2256905 | 1.22| Qtz vein |7 meter pit| 176 | |
+---------+----------+-----------+--------+-----------+-----------+--------+---+
| | | | | | 5.3 meter | | |
| A10158 | 487413 | 2258170 | 1.2| Qtz vein | pit | 180 |50 |
+---------+----------+-----------+--------+-----------+-----------+--------+---+
| | | | | | 4.7 meter | | |
| A10152 | 487401 | 2258064 | 1.08| Qtz vein | pit | 196 |60 |
+---------+----------+-----------+--------+-----------+-----------+--------+---+
| | | | | | 9.5 meter | | |
| A10179 | 487543 | 2258771 | 1.06| Qtz vein | pit | 115 |52 |
+---------+----------+-----------+--------+-----------+-----------+--------+---+
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Algold Resources Ltd via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 03.10.2017 - 13:00 Uhr
Sprache: Deutsch
News-ID 562272
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contact information:
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