AMN - BURKINA FASO: Guiro project report filed

Komet Resources has announced the filing of the first technical evaluation report compliant with the 43-101A1 Regulation for its Guiro project located in Burkina Faso.

The author of the report, M. Jacques Marchand, an independent geologist engineer, concludes that the company should continue the underground development at Guiro mine as well as the exploration work of the Guiro vein and of the entire property.

Guiro was underground mined by Burkinan company Stremco, which produced 427 kg of gold from 50,000 tonnes at 8.6 grams/tonne gold from 2011 to 2013. The remaining historical resource is evaluated to 270 000 tonnes at 11 grams/tonne gold. The structure is mined over 300 metres laterally and recognised down to 230 metres. In 2015, Komet drilled this structure, running 280˚/60˚ that is now recognized over 700 metres laterally.

The report also mentions other mineralised areas of the Guiro project, which were historically assessed by Minorex in 1993 and Stremco in 2004, among which the most important are: Bayildiaga, historical surface reserve of 65,000 tonnes at 7.6 grams/tonne gold; Diouga, historical surface reserve of 22,800 tonnes at 9.2 grams/tonne gold; and Gangaol, historical surface reserve of 61,000 tonnes at 8 grams/tonne gold.

With the newly restored VAT leaching system and the re-launch of its gravimetric plant in November, Komet generated a gold production for an approximate value (not profit) of C$560,000 over the last quarter. Added to this are the constant upgrade of underground extraction and the optimization of the plant using additional equipment that has just arrived from France, Australia and Canada by boat. “We are really enthusiastic about these results and the installation of the new equipment should have a significant impact so that we have wind in the sails for the coming months,” stated André Gagné, President and CEO of the company.

www.kometgold.com

News courtesy of International Mining