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Firefinch (ASX:FFX) - Managing Director, Michael Anderson
Managing Director, Michael Anderson
Source: Firefinch
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  • Firefinch (FFX) receives the latest round of results from the Viper Deposit, within the Morila Gold Project in Mali as mining operations begin
  • FFX said the latest results indicate the presence of discrete high-grade zones within the mineralised system
  • Best results include nine metres at 15.1 grams of gold per tonne (g/t) from 40 metres downhole, including one metre at 98.7 g/t
  • Mining operations have begun, initial mining will provide oxide feed to the Morila plant and an updated MRE is expected once current drilling is complete
  • Shares are trading grey at 46 cents at 9:44am AEST

Firefinch (FFX) has received the latest round of results from the Viper Deposit, within its 80 per cent owned Morila Gold Project in Mali, as mining operations begin.

The resource definition drilling program is testing extension to the mineralisation at the southern end of the deposit, along strike and down dip from results earlier this year in March and June.

From the latest results, FFX said the best intercepts included nine metres at 15.1 grams of gold per tonne (g/t) from 40 metres downhole, including one metre at 98.7 g/t, as well as two metres at 12.5 g/t from 70 metres.

The company said the results indicate the presence of discrete high-grade zones within the mineralised system.

Additionally, the company notes the intensity of drilling required to delineate the zones and plans to refine geological modelling to determine potential structural controls on these zones.

From there, the modelled high-grade trends are set to be verified and refined by ongoing drilling along the Viper system.

Mining operations are underway at Viper with Malian-owned and -operated contractor EGTF completing pre-mining activities such as grade control drilling, site clearing and topsoil removal.

This work was completed as a standalone project before the mobilisation of the Mota Engil and InterMine joint venture, who are contracted to mine the Viper pit, as well as the N’Tiola pit and Morila Super Pit.

FFX has engaged the two mining contractors in an attempt to accelerate material movement, which could assist the near-term mining schedule.

Initial mining at Viper has been designed to provide oxide feed to the Morila plant, which FFX said will increase the ore types available for blending and processing.

Currently, the mineralisation at the southern end of Viper is contained within the ore reserve design and is classified as an indicated mineral resource.

Results from the grade control drilling will be used to update the mineral resource and ore reserve when resource definition drilling is complete.

Looking ahead, the company said as mining kicks off in the southern portion of Viper, drilling will be focussed on other areas within the mineralised system.

FFX intends to follow up high-grade intersections in previous drilling, and delineating deeper zones to assist ongoing geological interpretation and update mine data.

Shares were trading grey at 46 cents at 9:44am AEST.

FFX by the numbers
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