Source: Polymetals
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  • Polymetals (POL) receives the first results from its recently completed phase two drilling program at the Alahiné Gold Project in West Africa
  • So far, the company has received 27 per cent of assays from the program and noted several key gold intersections
  • This program comprised 98 holes over 7320 metres and was designed to test the project’s “prolific” artisanal gold workings
  • POL expects the next batch of assays in mid-September, which will help plan further drilling to extend the oxide mineralisation and test new targets
  • Shares are sitting steady at 14.5 cents at 3:27 pm AEST

Polymetals (POL) has received the first results from its recently completed phase two drilling program at the Alahiné Gold Project in West Africa.

So far, the company has received 27 per cent of assays from the program and recorded several gold intersections, including eight metres at 5.26 grams of gold per tonne from surface.

The work comprised 98 holes, including 94 air core and four reverse circulation, for a total of 7320 metres, and was designed to test the project’s “prolific” artisanal gold workings .

Polymetals Supervising Geologist Clive Hastings commented on the findings.

“We are very encouraged by the preliminary results received from the Alahiné phase two program, particularly the high-grade results from relatively shallow holes and eagerly await further assay results,” he said.

“The new results from the phase two program provides Polymetals with clear follow-up targets for the upcoming field season, anticipated to commence in November.”

Mr Hastings said, based on the initial results, the Alahiné Project appears to demonstrate a number of similarities with neighbour AngloGold Ashanti, in terms of geology and mineralisation styles.

“We look forward to the next phase of drilling to test the fresh rock potential beneath the north-south zones.”

POL is expecting the next batch of assays in mid-September, with the results from phase two set to enable planning for further drilling at Alahiné.

The further work will aim to extend the project’s oxide mineralisation and test new targets.

Shares were sitting steady at 14.5 cents at 3:27 pm AEST.

POL by the numbers
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