Pasofino Gold starts exploration at Liberian gold project

21 October 2020 (Last Updated October 21st, 2020 16:59)

Canadian mining firm Pasofino Gold has commenced exploration works at the Dugbe gold project in Liberia.

Pasofino Gold starts exploration at Liberian gold project
Map showing the project area and the location of gold deposits and targets. Targets referred to in the text are labeled with red font. Credit: Pasofino Gold Limited.

Canadian mining firm Pasofino Gold has commenced exploration works at the Dugbe gold project in Liberia.

The exploration programme will include step-out drilling, drilling of new targets and large scale regional soil sampling.

With this drilling campaign, the company seeks to increase mineral resources at the 2,355km2 property by identifying new deposits.

Pasofino Gold Africa Operations CEO Ian Stalker said: “Drill testing of just three of the many gold targets previously identified on the project led to the discovery of the large Tuzon and Dugbe F deposits.

“These host Indicated and Inferred Mineral Resources of 2.3 and 1.3 Moz respectively, and our objective is to grow this resource by discovering new deposits and extending the existing resources.

“We are now ready to roll out a programme to test the best of 100+ targets present, some of which are ‘new’ and have obvious discovery potential; and drill possible extensions of the existing deposits.”

The drilling and exploration teams have already started preparations for drilling. Two new regional targets with significant discovery potentiality were also identified.

Located in the southern part of the country, the Dugbe Gold Project is situated within Birimian aged rocks that host several West African gold deposits.

Under an agreement with Hummingbird Resources, Pasofino Gold has an option to acquire a 49% economic interest (prior to giving effect to the Government of Liberia’s 10% free carried interest) in the project.

The company also has a 50% interest in the advanced-stage Roger Gold-Copper Project in Quebec.