Picture of Drilling at Coka Rakita

The Drill Down: Best Gold Assays (Feb. 23 – Mar. 1)

One project in Serbia led the week’s results. Dundee Precious Metals Inc. (TSX: DPM) has shared new assay findings from its drilling program at Coka Rakita in eastern Serbia. In second was Carolina Rush Corp. (TSX-V: RUSH) and its assay results from a core hole, the first follow-up drill hole at the Tanyard breccia on its Brewer Property along trend with the producing Haile Gold Mine. In third was an intercept from West African Resources (ASX: WAF) Sanbrado project in Burkina Faso.

Drill holes are ranked by gold grade x width as identified using the Mining Intelligence platform.

#1) Dundee Precious Metals – Coka Rakita

Dundee Precious Metals Inc. has shared new assay findings from its ongoing infill drilling program at Coka Rakita in eastern Serbia, following the announcement of an inferred mineral resource estimate of 1.8 million ounces of gold. Additionally, results from scout drilling programs at Dumitru Potok and Frasen prospects, situated approximately one to 1.5 kilometers north of the Coka Rakita deposit, have been disclosed. 

The infill drilling program at Coka Rakita has continued, with 9,200 meters drilled across 19 completed drill holes and seven ongoing ones since the previous update in November 15, 2023. Notably, the program has yielded high-grade intercepts, with the most significant being reported from drill hole RIDD052A. 

This intercept revealed a broad interval of high-grade gold mineralization, with visible gold observed over approximately 20 meters of the hole, associated with skarn altered sandstone and intermittent brecciated intervals. Fire assay results indicated an 81-meter interval grading at 50.57 g/t Au and 0.15 percent Cu from 122 meters, including a single one-meter interval of 3,025 g/t Au from 173 meters to 174 meters.

#2) West African Resources – Sanbrado

For 2024, a total of 18,000 metres of resource definition drilling is planned targeting the Inferred Mineral Resource between the 1600 metres to the 1350 metres. Drilling is expected to commence in Q2 2024 and be completed by the end of 2024.  The drilling budget is largely focused on extending existing underground resources and reserves at Sanbrado.

The drill program is aiming to convert up to 400kozs Au from an Inferred Mineral Resource classification to Indicated Mineral Resource. The additional resource has the potential to increase the reserve life by up to 3 to 4 years.

Further drilling has been completed recently between 200 metres and 1780 metres and results are expected to be released later in Q1 2024.

#3) Carolina Rush – Brewer Property

Carolina Rush Corp. announced assay results from core hole B23C-021, the first follow-up drill hole at the Tanyard breccia, located 150 meters south of the historic Brewer breccia.

The Tanyard zone, discovered in 2021, intersected significant gold and copper mineralization. Drill results for B23C-021 revealed notable intercepts, including 62.5 meters at 8.45 g/t Au, with high-grade zones such as 2.5 meters at 168.72 g/t Au.

The company’s president praised these results as the most significant to date for the Brewer project, especially following a renegotiated option agreement. 

Senior geologist Patrick Quigley emphasized the significance of the Tanyard zone’s discovery, noting its proximity to the former mine and its potential for expansion. The Tanyard breccia zone is described as a sequence of sedimentary and volcanoclastic rocks, folded into an east-west syncline.

It is believed to be similar to the Brewer breccia but with high-grade gold-telluride mineralization. Geological evidence suggests the Brewer and Tanyard breccias are part of a large diatreme breccia complex, potentially overlaying a copper-gold porphyry system.

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