AMN - MAURITANIA: Tijirit gold mineralisation extended

Diamond and reverse-circulation drilling at Algold Resources' Tijirit Gold Project in Mauritania has extended high-grade mineralisation. The company has recently received results from the Phase III 30,000-metre drilling program completed in late August.

The results, which include 6.14 g/t gold over 4 metres, continue to demonstrate the high-grade nature and the continuity of the mineralisation, both near-surface and at depth, over the 3.5km strike length of the Eleonore zone.

Additionally, drilling results from the Lily and Sophie zones extended the width of the mineralisation, thereby continuing to add significant gold ounces to the Tijirit project.

Best results from Eleonore South are: 6.14 g/t over 4 metres, including 21.30 g/t over 1 metre approximately 125 metres below the surface; 2.75 g/t over 8 metres approximately 115 metres below the surface; and 7.74 g/t over 2.10 metres. The northern and down dip extensions of this mineralised zone are yet to be tested.

From Lily best results are: 0.37 g/t over 111 metres, including 1.11 g/t over 19.55 metres from 36.35 metres; and 0.34 g/t over 179 metres, including 1.01 g/t over 17 metres from 138 metres. This hole and subsequent holes drilled in the Lily area demonstrate the pervasive low-grade mineralization of the Lily gold zone.

One hole at the Eleonore North Zone confirmed the northern extension of this zone, which remains open at depth. Further drilling will be required to test this structure to the north.

The banded iron formation (BIF) continues to be the main exploration target at Sophie II, with recent drilling extending the mineralisation at depth over the 1.5km strike length currently defined by drilling. The BIF structure, as defined by surface mapping and geophysics, is part of a more than 5km-long soil anomaly and remains a significant exploration target.

Wide, lower-grade BIF-associated mineralization was intersected at Sophie III, extending the mineralisation at depth. In addition, new BIF-associated anomalies 1km southwest of the known Sophie III mineralisation were drill tested, the results of which returned values up to 0.7 g/t Au over 4 metres.

As of November 1, Algold had collected 16,188 samples as part of the Phase III drilling program, with 15,363 samples sent to the SGS Bamako facilities for analysis. Algold is in receipt of 14,545 assay results, with 1643 drill samples still pending and under preparation.

Sampling of previously untested core drilling from 2016 and 2017 as well as resampling of select RC intervals is under way. Accordingly, a further 2643 samples have yet to be analysed.

www.algold.com