AusQuest (ASX: AQD) has intersected thick gold intersections from results of two diamond drill holes at the Phaco Hill Prospect, within the Comoe Gold Joint project in Burkina Faso, West Africa.
Highlights from two completed diamond drill holes include:
- 9 metres at 3.86 grams per tonne (g/t) gold, including: 4.16 metres at 6.94g/t gold; and
- 4 metres at 2.82g/t gold.
The company now seeks to determine the potential of the sulphide mineralisation at Phaco Hill and whether it hosts economic gold mineralisation, particularly at depth.
The diamond drilling follows-up initial reverse circulation drilling results associated with strong sulphide mineralisation including 8 metres at 7.75g/t gold and 19 metres at 2.25g/t gold.
The diamond drilling campaign at Phaco Hill is defining the potential for a Volcanogenic Massive Sulphide (VMS) style mineralised system within the project area.
Located in the Banfora Greenstone Belt, Phaco Hill has gold mineralisation open in all directions and continuous over one kilometre.
Diamond drilling is ongoing at Phaco Hill and the surrounding prospects with six drill holes also completed at the Karite Prospect located two kilometres to the south.
The company held A$17.3 million in cash at the end of February.
AusQuest holds a 51% stake in Comoe with a wholly-owned subsidiary of Etruscan Resources (TSE:E: EET).