Firefinch announced the latest results received from drilling at the Koting Project and the Pit 5 Prospect adjacent to the Morila Pit. 

The Koting deposit is located approximately 30 kilometres north‐west of Morila, only 2 kilometres from an established haul road, and is 100% owned by Firefinch through its subsidiary Birimian Gold Mali SARL. Koting was discovered by Firefinch in early 2014 and has been drilled intermittently since that time, with a significant drill program completed at the deposit in late 2019.

In January 2021 Firefinch completed an additional 38 Reverse Circulation (RC) drill holes for 5 185 metres of drilling. The drill program was planned to infill previous drilling (nominally 25 metres spaced drilling on 50 metres spaced sections) to a more regular spacing of 25 x 25 metres.   

All assay results have now been received from this programme and better results include:

  • 8 metres at 8.25 g/t gold from 28 metres in KOTRC020 including 3 metres at 17.30 g/t gold  
  • 8 metres at 1.97 g/t gold from 101 metres in KOTRC023
  • 8 metres at 2.90 g/t gold from 26 metres in KOTRC030 

“We have recommenced work on our Koting deposit with the view that Koting will provide future supplementary early feed to the nearby Morila mill,” said Firefinch chairman Dr Alistair Cowden. A long section looking east with composite intersections greater than 3 metres long and 0.5 g/t gold. Recently results from the southern section of Koting suggest that the mineralised structures continue to the SSE, towards the K2 prospect where drilling is planned later in the year.

Mineralisation is shear zone hosted, low sulphidation (pyrite and arsenopyrite) quartz vein system, with varying levels of silica, chlorite, biotite and sericite alteration of the host greywacke and siltstone. Mineralised lodes strike north‐north east and dip steeply to the west. Lodes are up to 250 metres long and 25 metres wide in plan.

Most intersections are modest grade with sporadic high grades present. Geostatistical evaluation of the distribution of gold indicates a highly variable deposit requiring infill drilling to better delineate near‐surface mineralisation, especially the high-grade zones, and to enable reliable estimation of mineral resources and subsequent ore reserves.  

Infill drilling has commenced with two RC rigs working and the program is expected to take three weeks to complete. Assay turnaround time from the independently operated on‐site laboratory at Morila is approximately two to three weeks.

Firefinch gives Koting drilling update
Drilling at Morila Pit 5 (Credit: Firefinch Limited)
Morila Pit 5 results

The Pit 5 Prospect is located on the western edge of the Morila Pit and is named after a conceptual mine design planned during 2006 but not mined.  Drilling was completed to a nominal spacing of 35m x 35m at this time, with no further drilling completed in the last 15 years.

A short RC drilling programme was completed at the Pit 5 Prospect in February 2021. 43 holes for 1 756 metres were drilled at a spacing of 25m x 25m as an initial step to determine the quantity and grade of oxide mineralisation present within Pit 5. The geology of the Pit 5 is the same as the broader Morila Mineral Resource, with stacked shallow to flat lying mineralised lodes.  

All assay results have now been received from this programme and better results include:

  • 7 metres at 5.72 g/t gold from 15 metres in SE03 including 4 metres at 9.48g/t gold;
  • 6 metres at 2.77 g/t gold from 1 metre in SE25 including 1 metre at 13.3g/t gold; 
  • 9 metres at 1.13 g/t gold from 25 metres in SE06; and
  • 5 metres at 1.74 g/t gold from 6 metres in SE09 including 2 metres at 3.72g/t gold

“With the same goal we completed an infill programme at the Pit 5 Prospect which has yielded very positive results,” added Cowden. The Pit 5 mineralisation was not included in the Morila Mineral Resource and a separate resource model is being prepared. Due to the shallow nature of the mineralisation identified and the proximity to the processing plant the Pit 5 Prospect will be evaluated as a stand‐alone project independent of the main Morila resource and is anticipated to provide another source of early mill feed in the ramp‐up of the Morila Project.

According to Cowden, once resource models have been completed and pit designs completed, both prospects will be incorporated in the life of mine plan and provide flexibility in the operational ramp‐up. “We look forward to keeping our shareholders updated on further progress,” he concluded.

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