12th Jun 2015 08:59
LONDON (Alliance News) - Avocet Mining PLC said Friday it has seen positive results from its drilling campaign at Souma, Burkina Faso, which it expects to contribute to its objectives of increasing confidence in the existing orebody at the 'Dynamite' area of the project and growing the resources.
The results are the first from an ongoing drilling and metallurgical test work programme it began in April. The full programme is expected to be completed in July.
Avocet is working to determine if Souma might be able to provide satellite ore feed to its Inata mine in Burkina Faso. Previous drilling has indicated that mineralisation at Souma is quartz hosted, Avocet said, and does not have the same carbonaceous ore types as seen at Inata.
The objective of the drill programme is to confirm Souma's metallurgy is oxide and non-carbonaceous, and to upgrade the existing resource of 0.68 ounces in order to generate a maiden ore reserve.
Shares in Avocet are trading up 14% at 5.25 pence Friday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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