Friday, 2nd May 2008 (456 views)

Drilling at the Kofi gold project in Mali has intercepted high-grade gold over "excellent" widths, making it the second high-grade gold find reported in the west African state within 24 hours.

The company developing the Kofi property, Axmin, said it had struck gold in the Kofi SW zone, while also intersecting a new gold-bearing structure at the site.

Key intercepts from infill drilling on Kofi SW include gold grades of 6.0 g/t gold over 27.7 metres, 4.0 g/t gold over 20 metres, 3.4 g/t gold over 19.5 metres and 3.0 g/t gold over 12.9 metres, the exploration firm said.

Meanwhile, a five-hole reconnaissance drill programme followed up on previous samples and successfully detected a new zone of mineralisation.

Grades returned from this area include 1.5 g/t gold over 13 metres, 0.9 g/t gold over 16 metres and 0.8 g/t gold over 15 metres.

Axmin president and chief executive Mario Caron said: "This round of drilling reinforces our belief that substantial exploration potential remains both near surface and at depth across the Kofi [property] and that our ongoing drill programs will continue to expand the project."

The company's announcement comes after another exploration firm, Merrex Gold, reported high-grade gold strikes at its Siribaya project in the West Mali gold belt.

 

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