Firefinch Ltd (ASX:FFX) (OTCMKTS:EEYMF) (FRA:N9F) has delivered more high-grade gold hits at Morila Pit 5, a mining area on the western margin of the Morila Super Pit.
Simultaneously, the company has also started diamond drilling at the NE target of Morila Super Pit.
Firefinch said the Pit 5 drill results confirmed the thickness and tenor of mineralisation present outside the previously mined Morila Super Pit, with positive implications for high-grade mineralisation elsewhere at Morila, a gold mine in Mali 80% owned by Firefinch.
Morila potential building
Firefinch managing director Dr Michael Anderson said the company’s excitement surrounding the Morila Super Pit was growing rapidly.
“It is very exciting to start our search for high-grade mineralisation below the Morila Super Pit, and I look forward to seeing the drill core from this initial program,” he said.
“The results at Pit 5 are evidence of the mineralisation and remaining opportunity in the Morila system, and we are looking forward to a sustained exploration and resource development strategy to unlock its full potential.”
Pit 5 drill results
The Morila Pit 5 deposit is on the margin of Morila Super Pit, less than 1 kilometre from the Morila plant, with an indicated and inferred mineral resource of 840,000 tonnes of gold at 1.1g/t.
The latest results included:
- 58 metres at 1.75 g/t gold from 91 metres;
- 16 metres at 3.98 g/t from 88 metres;
- 18 metres at 2.17 from 39 metres;
- 9 metres at 3.83 g/t from 91 metres;
- 33 metres at 1.04 g/t from 73 metres; and
- 6 metres at 4.12 g/t from 76 metres.
The geology of Pit 5 is the same as the broader Morila mineral resource, with stacked shallow to flat-lying mineralised lodes.
Firefinch said recent drilling had intersected deeper mineralisation at Pit 5, which looks to have
confirmed the interpretation used in the main, open-pittable Morila mineral resource.
The next steps are to integrate the latest drill results with the broader Morila mineralisation model, with a new mineral resource estimate and an ore reserve estimate to follow.
Diamond drilling at Super Pit
Diamond drilling has commenced at the Morila Super Pit, aiming to test for extensions to high-grade mineralisation intersected in historical drilling at Morila NE.
Prior drilling in this area returned intersections such as 14 metres at 21.7 g/t from 119 metres downhole and 6 metres at 9.0 g/t from 146 metres downhole, representing just some of the high-grade drilling intersections present outside the mined open pit at Morila, with Firefinch to systematically test a number of these targets in coming months.
The company expects that testing of each target will yield data that can be applied to refine the targeting model for Morila.
- Daniel Paproth