Newly-listed explorer Polymetals Resources (ASX: POL) has kicked off its 2021 drilling season with a combined air core and reverse circulation (RC) program at the East Alahiné gold project in West Africa’s Siguiri Basin.
The phase two program will comprise 112 holes for a total 5,100m and target productive artisanal gold diggings enclosed by a 40 parts per billion gold-in-soil anomaly contour line at the project’s North, Central and South targets.
It will include testing of the lateral and vertical extent of a gold mineralised zone encountered during a 2,400m phase one program which returned a best intercept of 12m at 3.09 grams per tonne gold from 89m downhole.
Also planned is exploration of the inferred Siguiri-like shallow oxide gold potential demarcated by the anomaly contour and by active artisanal gold workings.
The work will be carried out by Australian-based West Africa contractor Target Drilling, and supervised by a Polymetals senior Australian geologist, four local geologists and Polymetals’ in-country manager.
Polymetals’ portfolio in north-east Guinea contains the key projects of Alahiné (over 64.21 square kilometres) and Mansala (48.23sq km), collectively known as the Golden Guinea licences.
The combined 112.44sq km of acreage hosts prolific historic and current artisanal gold mining and production and the company’s initial testing has indicated strong potential for the discovery and delineation of a large gold inventory.
The Siguiri Basin is notable for its widespread gold anomalism which has been subject to extensive modern exploration over the past 25 years.
The basin is the most productive gold mining area in Guinea, producing over 500,000 ounces of gold per year.
It hosts several active operations including AngloGold Ashanti’s (ASX: AGG) Siguiri gold mine, located 37km west of Polymetals’ licences.
Siguiri is the largest mine in the region and has produced more than 6 million ounces over its 20-year life.
Polymetals’ neighbours in the Siguiri Basin include Predictive Discovery (ASX: PDI), which owns the Bankan project to the south of Golden Guinea, and Golden Rim Resources (ASX: GMR) with its Kada project to the west.