African Gold (ASX: A1G) has scooped up more ground in western Mali by acquiring 100% of Abra Resources, with previous exploration at the new tenements returning up to 115.5 grams per tonne gold.
The Abra acquisition boosts African Gold’s landholding in the region to 436 square kilometres, and will give African Gold ownership of the Samanafoulou, Sitikali, Yatia, Faleme, Golokasso permits.
Through the acquisition, African Gold also has an option to acquire 95% of the 80sq km Walia permit, which abuts Barrick Gold’s 14 million ounce Loulo mine.
The new western Mali tenements will form part of the company’s Kedegou-Kenieba project.
According to African Gold, the new projects contain numerous targets for drill testing, with several high priority targets identified along strike of Loulo within Walia.
The Sitikali project covers 45sq km and is 20 north-east of Loulou. Sitikali hosts several large-scale and recent artisanal workings and limited historic drilling has unearthed 6.6m at 115.5g/t gold and 4m at 28.9g/t gold.
Meanwhile, the Yatia project encompasses 47sq km and is next to the 2.1Moz Tabako-Segala mine. Similar to Sitikali, previous drilling at the permit has been limited. However, a former shallow reconnaissance program uncovered 10m at 2.87g/t gold and 2m at 7.4g/t gold.
The 110sq km Faleme project has had 25 historical shallow holes drilled across the project with better results including 7m at 4.2g/t gold, 5m at 8.6g/t gold and 24m at 2.01g/t gold.
Over at the 90sq km Golokasso project in south Mali, anomalies have been firmed up from historical wide-spaced air-core drilling.
Golokasso abuts Resolute Mining’s Syama permits which include the 9Moz Syama mine.
The Abra acquisition also gives African Gold ownership of the 1,400sq km Agboville gold project in Cote D’Ivoire.
Agboville is closes to Barrick’s 2.7Moz Tongon mine, Perseus’ 3.4Moz Yaoure operation and Endeavour’s 4.5Moz Ity mine.
Commenting on the acquisition African Gold executive director Steve Parsons said he was “very excited” the company had managed to secure more land in one of the world’s “premier” gold mining districts.
“It is incredible that such limited historic work has been undertaken in such a prolific gold producing region.”
He added the company would begin exploring the new permits immediately, with initial work to include data collection, collation, validation and interpretation.
During the December quarter, field work will include mapping and geochemical sampling programs, followed by drilling.