Siguiri Gold Project
SIGUIRI GOLD IS TARGETING THE NEAR TERM PRODUCTION OF A BULK-TONNAGE, AT-SURFACE OPEN PIT MINING OPERATION.
- Extensive shallow Artisanal workings
- Simple metallurgy
- Easy recoveries
- Low strip ratio
- Easily processed material
The Siguiri Gold Project is located within the prolific Birimian Greenstone Belt, containing 300Moz+ Au and host to several multi million-ounce gold mines and projects.
Recent drilling in late 2022 has significantly expanded two of the Company’s key deposits.
The Siguiri Gold Project (SGP) comprises 3 tenements (North, South and West) covering 168km2 located in the highly prolific Siguiri Basin. In close proximity to the SGP are the world class 210k AuOz/yr Siguiri Mine (AngloGold Ashanti) and 200k AuOz/yr Lefa Mine (Nordgold).
To date, at least 4 mineralised corridors have been identified across the north and South tenements with the NNE mineralised zones traced for ~12.8km.
Siguiri Gold is targeting the near-term production of a bulk-tonnage, at-surface open pit mining operation.
Extensive shallow Artisanal workings cover much of the ~12.8km mineralised zones which demonstrates not only the simple metallurgy and easy recovery of mineralisation, but for any future open pit mining operation, the low strip ratio of easily processed material.
Through further drilling programs, it is Siguiri Gold’s intention to deliver a Maiden Resource in 2023.
2021 Exploration Program
Siguiri Gold carried out a 20,000m drill program in 2021 which targeted near surface mineralisation below and around existing artisanal open pits. 200 holes were drilled to an average depth of ~100m and successfully confirmed the expected mineralisation within the target areas, delivering promising results:
- Near surface mineralisation exists within free digging material, at depths of beyond 100m, reducing operating costs and allowing for economic extraction at much lower grades
- Numerous holes, especially in the Kokoun and Mog zones, ended in mineralisation with some of the highest-grade assay results returned to date (including 15m at 5.8 g/t and 10m at 1.8 g/t)
A drone based magnetic survey was completed to help define structural domains and controls on the property. Major faults and magnetic domains were defined as well as identifying numerous felsic to intermediate intrusions throughout the property, the relationship of which with mineralisation is still being interpreted.
2022 Independent Geologists Report
In August 2022, Shango Solutions completed a detailed Geological Report over SGP concluding the significant prospectivity of the project and confirmed the following:
- At least 4 mineralised corridors identified across North and South Tenements
- NNE trending mineralised zones can be traced for ~12.8km
- Key SAG mineralisation types (Kami and Kosise) present on Siguiri Gold Tenements
- Based on aeromagnetic data, mineralised lithologies typical of SAG expected to be present on West Tenement
- ~10% of 2021 boreholes reported intersections above 20 mg/t
2022 Exploration Program
Siguiri Gold is currently carrying out a Geochemistry program across the three tenements – this program is anticipated to be complete by year end 2022.
The Company completed a drill program In August 2022, with further drilling to recommence early in 2023 in the dry season. Preliminary results received in November 2022 have significantly expanded two of the Company’s key prospects, Tamba and Kokoun.
This drill program was designed to infill the identified mineralisation at Tamba and Kokoun and has been successful in doing so. At Tamba, drilling has confirmed presence of high-grade zones within the larger ore zone remaining open to the north and at depth whilst at Kokoun, drilling has been confirmed to be open at depth and along strike.
When drilling recommences in early 2023, the target will be to extend the known mineralisation and test the deposits down to depths of 200-250m.
Initial drilling on the West claim will be planned based on Geochem results.
The Company aims to deliver a maiden resources in 2023.
Siguiri Gold Chairman, Michael Minosora commented,
“The latest drilling results in from our Tamba and Kakoun deposits are hugely significant for the Company as they underpin management’s views of the sound geological model at our Siguiri Gold Project. The results in from Tamba in particular, demonstrate the strong potential for this project to deliver a high grade deposit potentially commencing at surface which would allow Siguri Gold to target a low cost gold production operation.”
Key highlights from Tamba drilling include:
| Hole | Depth From | Width | Grade |
|---|---|---|---|
| SG-22-202 | 24m | 84m | 0.81 g/t |
| including | 33m | 1.38 g/t | |
| including | 7m | 3.4 g/t | |
| SG-22-206 | 23m | 85m` | 0.72 g/t |
| including | 17m | 1.32 g/t | |
| SG-22-209
(drilled down the deposit) | 7m | 13m | 1.35 g/t |
| 50m | 16m | 1.35 g/t | |
| 91m | 59m | 1.94 g/t | |
| including | 36m | 2.89 g/t | |
| including | 26m | 3.32 g/t | |
| including | 15m | 3.96 g/t | |
| including | 7m | 5.16g/t |
Plan view of the Tamba deposit showing drill hole traces and the location of the mineralisation.
Key highlights from Kakoun include:
| Hole | Depth From | Width | Grade |
|---|---|---|---|
| SG-22-220 | 84m | 33m | 0.62 g/t |
| including | 13m | 1.08 g/t | |
| SG-22-222A | 13m | 11m | 1.81 g/t |
| 45m | 15m | 1.04 g/t |
Plan view of the Kokoun deposit with drill hole traces and mineralisation zones highlighted.
Siguiri Gold Project Overview
OWNERSHIP
- 100% owned by Peak Guinea, a wholly owned subsidiary of Siguiri Gold
GEOLOGY & MINERALISATION
- Orogenic, shear hosted gold deposit
- Stockwork of gold-bearing veins within weathered (laterite/saprolite) bedrock
- Gold within quartz veins and disseminated within laterite/saprolite
- NNE trending shears
HISTORY
- Previously owned by a Russian mining company
- Historically completed a drilling program; results are not available
- Peak Guinea acquired the Southern and Northern Tenements in 2017
- Peak Guinea acquired by Siguiri Gold in 2020
- Western Tenement (90km2) added in 2021
ARTISANAL MINING
- High-density of artisanal miners present throughout the entire property
- Open pit depths up to ~20m
- Grades up to 50 g/t Au mined from shear-hosted quartz veins