Significant new assays from the completed phase 1 drilling included 3.5 metres at 9.11 g/t gold from 88 metres.
These results confirm that Kollo has the potential to become a significant gold project with high grades and extensive exploration upside.
Gold mineralisation remains open both at depth and along strike.
The next phase of drilling at Kollo could be underway as early as late October, subject to access and logistics.
Mark Strizek, managing director, commented: “While the assays from the initial round of drilling have included some strong high grades, it is very clear that, because of the weather-interrupted nature of the program, the drilling has not adequately tested most of the key targets.”
Drill result details
The latest results, which follow the initial assays from mid-September, continue to demonstrate the high-grade nature of the gold mineralisation at Kollo.
Significant intercepts included:
- 3.5 metres at 9.11 g/t gold from 88.1 metres;
- 1.63 metres at 4.05 g/t gold from 42.5 metres;
- 2 metres at 7.05 g/t gold from 48 metres; and
- 2 metres at 2.73 g/t gold from 100 metres.
Kollo is an advanced exploration project with high grade gold mineralisation from surface.
Previous drilling highlights include:
- 5 metres at 60.36 g/t gold from 75 metres including 2 metres at 128.5 g/t gold;
- 44 metres at 6.39 g/t gold from 8 metres;
- 31 metres at 3.19 g/t gold from 34 metres; and
- 15 metres at 7.78 g/t gold from 105 metres including 1 metre at 59.76 g/t gold.
Queensland gold assays pending
Vital is also expecting initial gold assays within weeks from its 100%-owned Elephant Creek Gold Prospect, located in Far North Queensland.
A total of 12 holes, for 708 metres, from an initial drilling program of up to 2,000 metres have been completed.
The drilling has been designed to target shallow gold mineralisation associated with the quartz vein systems at Elephant Creek.
Multiple untested gold targets
The company has numerous exploration targets in Burkina Faso aside from known gold mineralisation at Kollo.
These include:
Kollo and Kollo Extensions
- Kollo Central: untested due to topography – will test with track-mounted rig;
- Kollo South-west extension: with supporting geochemistry and discordant magnetic signature; and
- Kollo Northwest: extension of Kollo mineralisation under transported soil.
Regional
- Boungou South: limited drilling, gold-in-soil geochemistry and discordant magnetic structure;
- ADB / Cassava: robust gold-in-soil geochemistry (+600m strike) along major structure;
- Eastern Boundary North and South: untested major structure which forms the belt margin in south; and
- Tangassougou: regional gold-in-soil geochemical anomaly.
Analysis
Phase 1 drilling at Kollo has given investors a taste of the potential that Vital’s West African ground has for discovering an economic gold resource.
The Kollo Gold Project sits within the Markoye Structural Corridor, which is known to host several world-class gold deposits, including two recent major gold discoveries – Namdini by Cardinal Resources Ltd (ASX:CDV) and Tanlouka by West African Resources Ltd (ASX:WAF).
Vital has received some high-grade gold results at Kollo but there is still a lot of drill testing required along strike and at depth.
The Kollo project offers world-class exploration upside, with the upcoming drilling program set to build on the very encouraging results from the rain-interrupted phase 1 drilling.
The company will remain leveraged to news flow and exploration upside as it is expecting its first assays from Elephant Creek in the coming weeks.
Vital is trading up 55% year to date, currently trading at $0.019.