AusQuest (ASX: AQD) has hit further high grade gold intercepts from diamond drilling at the Comoe joint venture with Etruscan Resources Bermuda in Burkina Faso.
The latest highlights are; 6 metres at 8.5 grams per tonne (g/t) gold from 267 metres, and 3 metres at 9.66g/t gold from 164 metres.
The importance of the latest gold hits for AusQuest is that higher gold grades continue to depths of at least 200 metres at Phaco South and 120 metres at Phaco North.
The company said these results continue to support the presence of a large VMS gold system at Phaco Hill containing high-grade gold shoots which extend to depth.
What is interesting about the Comoe joint venture is the project is surrounded by multi-million ounce gold mines, and is located within the unexplored Banfora Greenstone Belt.
Within 200 kilometres to the west is the 7.9 million ounce Syama, the 4.3 million ounce Tongon and the 2.0 million ounce Nogbele.
Then 150 kilometres to the east is the 2.2 million ounce Konkera.
Also about 500 kilometres to the south-east is the 16.5 million ounce Ahafo, which is in Ghana.
Even though these multi-million ounce gold mines are not adjacent to Comoe, they support the potential of the surrounding area, which is largely under explored from modern mining techniques.
AusQuest already has some big resource company support for the company's operations, with Cliffs Natural Resources (NYSE: CLF) the major shareholder with 30%.