SearchGold Confirms the Presence of Bakoudou's Gold Corridor over a 3 Km Strike Length with Surface Values up to 34,50 g/t Au.MONTREAL Montreal (mŏn'trēôl`), Fr. Montréal (môNrāäl`), city (1991 pop. 1,017,666), S Que., Canada, on Montreal island, surrounded by St. Lawrence River and Rivière des Prairies. -- SearchGold Resources Inc. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:RSG RSG Revenue Support Grant (UK) RSG Recovery Storage Group (Microsoft Exchange) RSG Ready, Set, Go! RSG Regional Support Group RSG Research Study Group (NATO) ) announced today the first progress results of the ongoing exploration program on its 90%-owned Bakoudou Gold Project located in Gabon Gabon (gäbôN`), officially Gabonese Republic, republic (2005 est. pop. 1,389,000), 103,346 sq mi (267,667 sq km), W central Africa. It borders on the Atlantic Ocean in the west, on Equatorial Guinea and Cameroon in the north, and on Congo , Africa. The work consisted of soil geochemistry geochemistry, study of the chemical changes on the earth. More specifically, it is the study of the absolute and relative abundances of chemical elements in the minerals, soils, ores, rocks, water, and atmosphere of the earth and the distribution and movement of , prospecting and surface rock sampling. This work confirms the strong gold potential of the property and notably : - The presence of a northwest trending gold-bearing corridor over a strike length of 3 km defined by soil geochemistry, surface rock samples and drill holes. - The presence of high-potential sectors along this gold bearing corridor that could represent geological replicas of Zone A. The highlights of this program are : - Definition of a 500 m extension to the Bakoudou main soil geochemical anomaly. This extension has been defined 1,2 to 1,7 km northwest of Zone A and the anomaly, 2,0 km in total length, remains open towards the northwest. - Identification of mineralized quartz boulder trains with values of up to 34,50 g/t Au between 0,5 and 1,7 km north-west of Zone A. - Identification of new gold showings south of Zone A. Two high potential sectors stand out northwest of Zone A: "Bakoudou village" sector This sector, in an area where artisan mining previously occurred, is located at the northwest extremity extremity /ex·trem·i·ty/ (eks-trem´i-te) 1. the distal or terminal portion of elongated or pointed structures. 2. limb. ex·trem·i·ty n. 1. of the Bakoudou gold corridor, 1,9 km northwest of Zone A. The geochemical anomaly Abnormality or deviation. Pronounced "uh-nom-uh-lee," it is a favorite word among computer people when complex systems produce output that is inexplicable. See software conflict and anomaly detection. , which has the highest intensity in this sector with a peak of 2377 ppb ppb abbr. parts per billion Au at the level of line 18N, separates in two branches outlining a potential sector over 400 m wide. Quartz quartz, one of the commonest of all rock-forming minerals and one of the most important constituents of the earth's crust. Chemically, it is silicon dioxide, SiO2. boulders, originating in part from the old artisan work and sampled essentially along the Koudou river over a distance of 400 m, yielded values of up to 34,50 g/t Au. The bedrock continuity of the veins is confirmed by gold-bearing intersections of up to 4,80 g/t Au over 1,80 m recovered in previous drill holes. Of the 20 rock samples collected in this sector, 7 yielded values greater than 0,50 g/t Au and a description is provided in the following table.
---------------------------------------------------------------------
BAKOUDOU VILLAGE
---------------------------------------------------------------------
Sample Comments Grade
number g/t Au
---------------------------------------------------------------------
---------------------------------------------------------------------
BGG - 200 Grey to white saccharoidal Qz, very altered 2.32
plagioclase spots and limonite.
---------------------------------------------------------------------
BGG - 201 Milky white Qz, fractured with limonite planes. 3.14
---------------------------------------------------------------------
BGG - 202 Grey to white Qz, slightly fractured. Limonite 1.64
planes, altered plagioclase spots.
---------------------------------------------------------------------
BGG - 203 Grey to smoky Qz, fractured. Plagioclase, 3.74
chlorite, limonite and hematite spots.
---------------------------------------------------------------------
BGG - 205 Brown to smoky Qz with fractures and 1.79
hematite planes.
---------------------------------------------------------------------
BGG - 209 White to brown saccharoidal Qz with 2.34
hematite planes.
---------------------------------------------------------------------
BGG - 219 White to grey saccharoidal Qz with presence 34.50
of muscovite.
---------------------------------------------------------------------
"Bakoudou center" sector This sector is located at the center of the gold corridor, 1,0 km northwest of Zone A. The geochemical anomaly shows a peak of 451 ppb Au at the level of line 7N. Quartz boulders sampled on either side of the central part of the anomaly yielded values of up to 14,10 g/t Au. The bedrock continuity of the veins is confirmed by gold-bearing intersections of up to 4,80 g/t Au over 1,70 m recovered in previous drill holes. Of the 15 rock samples collected in this sector, 5 yielded values greater than 0,50 g/t Au and a description is provided in the following table.
---------------------------------------------------------------------
BAKOUDOU CENTER
---------------------------------------------------------------------
---------------------------------------------------------------------
Sample Comments Grade
number g/t Au
---------------------------------------------------------------------
---------------------------------------------------------------------
BGG - 221 Milky whitish-grey to brown Qz, chlorite spots. 1.00
---------------------------------------------------------------------
BGG - 236 White to brown Qz, rare feldspar spots. 0.99
---------------------------------------------------------------------
BGG - 245 Grey to white microsaccharoidal Qz, feldspar 2.97
and limonite spots.
---------------------------------------------------------------------
BGG - 246 Brown to smoky Qz , 5% oxydized material. 14.10
---------------------------------------------------------------------
BGG - 247 White to grey microsaccharoidal Qz, 6.37
limonite spots.
---------------------------------------------------------------------
A sector with a surface area of 7,5 km2 (2,5 x 3) located south of Zone A was the object of systematic boulder Boulder, city, United States Boulder, city (1990 pop. 83,312), seat of Boulder co., N central Colo.; inc. 1871. A Rocky Mountain resort and a suburb of Denver, it is the seat of the Univ. of Colorado (1876). and outcrop sampling. The highlights of this part of the program are : - Discovery of a micro saccharoidal quartz boulder yielding a value of 1,04 g/t Au 1,3 km south-east of Zone A. - Discovery of a saccharoidal quartz boulder yielding a value of 1,78 g/t Au on the Magnima permit, approximately 3,0 km south of Zone A. - Recovery of visible gold by panning in four locations. An important quantity of quartz boulders were located and sampled in this sector. This points to a favorable fa·vor·a·ble adj. 1. Advantageous; helpful: favorable winds. 2. Encouraging; propitious: a favorable diagnosis. 3. structural environment given the preferential pref·er·en·tial adj. 1. Of, relating to, or giving advantage or preference: preferential treatment. 2. positioning of quartz in structural related features. Of the 157 rock samples collected in this sector, 2 yielded values greater than 0,50 g/t Au and a description is provided in the following table.
---------------------------------------------------------------------
BAKOUDOU SOUTH
---------------------------------------------------------------------
---------------------------------------------------------------------
Sample Comments Grade
number g/t Au
---------------------------------------------------------------------
---------------------------------------------------------------------
BGG - 511 White to grey microsaccharoidal Qz, very 1.04
fine-grained and fractured.
---------------------------------------------------------------------
BGG - 597 White to rusty dark Qz, slightly saccharoidal 1.74
with 5% oxydized material.
---------------------------------------------------------------------
Even though a low percentage of samples returned gold values, the results remain encouraging given the lack of previous work in this sector. In-depth work will allow a better definition of the mineralized min·er·al·ize v. min·er·al·ized, min·er·al·iz·ing, min·er·al·iz·es v.tr. 1. To convert to a mineral substance; petrify. 2. To transform a metal into a mineral by oxidation. 3. zones. Promising regional context A preliminary analysis of satellite images and topographic topographic describing or pertaining to special regions. data shows that Zone A displays a specific geological ge·ol·o·gy n. pl. ge·ol·o·gies 1. The scientific study of the origin, history, and structure of the earth. 2. The structure of a specific region of the earth's crust. 3. A book on geology. signature (NNO/NE lineament lin·e·a·ment n. 1. A distinctive shape, contour, or line, especially of the face. 2. A definitive or characteristic feature. intersections) and that replicas of this geological context exist in a 10 km radius around Zone A. The discovery of a deposit similar to Zone A within such a perimeter The boundary of a system or network, which defines the inside and outside. It is typically determined by firewalls and addresses. See DMZ. would allow to generate resources with optimized economics if a scenario of a central treatment unit fed by ore from Zone A and eventual satellite ore bodies is implemented. Future exploration work At the scale of the gold bearing corridor defined so far, SearchGold will undertake a detailed ground follow-up follow-up, n the process of monitoring the progress of a patient after a period of active treatment. follow-up subsequent. follow-up plan of the Bakoudou Center and Bakoudou Village sectors allowing better target definition prior to executing core drilling. At the regional scale, a geoscientific data compilation Compiling a program. See compiler. is presently under way and will allow a better definition of exploration targets to be developed by SearchGold in the short term. SearchGold is presently conducting a Bankable bank·a·ble adj. 1. Acceptable to or at a bank: bankable funds. 2. Guaranteed to bring profit: a bankable movie star. Feasibility Study The analysis of a problem to determine if it can be solved effectively. The operational (will it work?), economical (costs and benefits) and technical (can it be built?) aspects are part of the study. Results of the study determine whether the solution should be implemented. with the intention of developing the Project's Zone A into a profitable open-pit gold mining operation. This study is carried out under the direct supervision of Met-Chem Canada Inc, a world-renowned Mining and Engineering firm. Mr. Philippe Giaro, Geologist, residing in Louvain-la-Neuve, Belgium, and SearchGold's Vice-President, acted as the Qualified Person regarding the follow-up of the exploration program and the disclosure of the results. SearchGold Resources is a Canadian Canadian (kənā`dēən), river, 906 mi (1,458 km) long, rising in NE New Mexico. and flowing E across N Texas and central Oklahoma into the Arkansas River in E Oklahoma. based mining exploration company whose primary mission is to target, explore and develop diamond and gold deposits in Africa and in Canada. SearchGold's project strategy maximizes its experience and resources, and supports the company's commitment to strengthen shareholder value. If you wish to receive the press releases by e-mail please contact: info@searchgold.ca The TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. SearchGold Resources Inc. (TSX VENTURE:RSG) |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion