- The Tijirit Exploration License shows the potential to host a >1.5M ounce gold deposit within four (4) prospects. The project is situated 30 km southeast of the Tasiast mine and was acquired from Gryphon Minerals (ASX) for 10M shares of Algold. Best intersects within the 4 prospects include (historical):
- 6m @ 17.63 g/t Au, 8m @ 2.97 g/t (Eleanor Prospect)
- 6 m @ 10.47 g/t Au, 4m @ 9.63 g/t Au (Sophie Prospect)
- 67 m @ 1,16 g/t Au, 2m @ 20.90 g/t Au (Lily Prospect)
- Algold also own the promising Legouessi and Kneivissat Licenses. Rock chip samples have returned values up to:
- 57.2 g/t Au and 29.5 g/t Au on NL
- 23 g/t Ag, 0.19% Cu, 0.97% Pb, 0.86% Zn on NL; up to 0.58% Cu on SL
- 1.7 g/t Au over 5m in DDH SL03
- Algold owns 100% of the Tijirit & Akjout Project.
- Société Mauritanienne d’Exploration (“SME”) owns 100% of property.
- Algold owns 90% of SME.
- Algold owns a 51% interest (earning in from Caracal Gold).
- Algold can increase its participation to a maximum of up to 90%.
Proximity to the Tasiast Mine
The Kneivissat property is situated in close proximity to a major structure hosting the Tasiast mine of Kinross :
2015 GOLD EQUIVALENT PRODUCTION – 219,045 oz.
2015 PROVEN & PROBABLE RESERVES – 8.2 M oz. @ 1.93 g/t Au
2015 MEASURED & INDICATED – 3.2 M oz. @ 1.33 g/t Au