Avesoro Resources begins drilling campaign at New Liberty project

20 November 2017 (Last Updated November 20th, 2017 12:41)

Canadian exploration and development company Avesoro Resources has started an infill drilling programme at its wholly owned New Liberty gold mine in Liberia.

Canadian exploration and development company Avesoro Resources has started an infill drilling programme at its wholly owned New Liberty gold mine in Liberia.

As part of the 14,000m diamond core drilling campaign, the company has mobilised four rigs to the mine.

Through the 46 hole drilling programme, the company is targeting an area of the New Liberty resource model containing an inferred mineral resource of around 3.5Mt with a mean grade of 2.8g/t Au and containing 315,000oz of gold.

Avesoro Resources CEO Serhan Umurhan said: “We expect drilling operations to be completed during Q1 2018 and I look forward to updating shareholders on the progress of this campaign, which we believe has the potential to increase the mine life and significantly add to the value of New Liberty.”

“The company is targeting an area of the New Liberty resource model containing an inferred mineral resource of around 3.5 million tonnes.”

The campaign is aimed at evaluating the continuity of the ore body, as well as upgrading the classification of a proportion of the inferred material to an indicated mineral resource.

The classification is expected to increase the tonnage of mineralisation that can be converted to a mineral reserve and included in the economic model.

Avesoro expects the drilling programme to be completed during the first quarter of next year.

Once the programme is complete, work will begin on an updated mineral resource and reserve statement.

Towards the campaign, the company’s subsidiary Bea Mountain Mining has signed a contract with its affiliated party Zwedru Mining.