AFRICAN MINING AND EXPLORATION plc
(“AME” or “the Company”)
DRILLING UPDATE – KARAN LICENCE, MALI
African Mining & Exploration plc (AIM: AME), the AIM listed gold exploration company operating in
Mali, West Africa, announces the findings of its initial Drilling Programme.
Highlights
12,269 metre Reverse Circulation (“RC”) drill programme completed over four target areas
within the Karan Licence;
Drilling targeted four prospects delineated by geochemical and geophysical data;
Approximately 2.9 km of the 25km structure drilled ;
Evidence of pervasive gold mineralisation discovered, associated with 3 of the 4 main targets;
Significant mineralisation found associated with quartz veining and porphyritic intrusions with
dispersed low-grade halos;
Peak intersections include 1 metre (“m”) at 11.75 grams per tonne gold (“g/t Au”), 1m at
8.62g/t Au, 1m at 5.88g/t Au, 1m at 4.73g/t Au and 2m at 3.90g/t Au.
Large low grade intersections include 39m at 0.21g/t and 101m at 0.11 g/t.
Further exploration drilling required to follow up mineralised structural targets within the
Karan Licence;
Screened fire assay to be completed on representative mineralised holes to detect for the
presence of coarse grained gold
Mark Jones, Chief Executive Officer comments “Gold mineralisation has been found on all four
prospects and we are encouraged by the structures associated with the mineralisation in the host
rocks indicating the presence of gold in the system. These structures are consistent with what is
found elsewhere in Mali in similar terrain. Exploration remains at an early stage and the next phase
aims to improve our understanding of the structures controlling mineralisation and thereby refine
the next round of drilling to intersect higher grade intercepts which it is assumed are currently
reflected in the larger low-grade gold halos that have been intersected”.
For further information, please contact:
African Mining & Exploration plc
+44 (0)207 499 4059
Mark Jones (Chief Executive Officer)
Singer Capital Markets Limited
+44 (0)20 3205 7500
(Nomad and Broker)
James Maxwell/Jennifer Wyllie
Farm Street Communications
+44 (0)759 3340 107
+44 (0)203 176 4249
Exploration programme
The Reverse Circulation (”RC”) programme completed on targets in the Karan Licence comprised a
total of 83 holes for 12,269 metres drilled. To date, assays have been received for all of the holes,
bringing the total number of assay results to 12,920.
Drilling was completed using a well-established international drilling contractor with rig supervision
being supplied at all times by experienced AME geologists.
Sampling protocols and drilling procedures were independently assessed and approved by an
independent geological consultant as part of AME’s standard QA/QC review.
Drilling depths were generally planned for 175 to 200 metres to obtain coverage across the
structural targets, but were constrained at some sites due to the presence of groundwater and
problems with the drill rig compressor. This resulted in minor changes to the drill plan; with drill
holes brought closer together to ensure lateral coverage and that near vertical structures were not
missed.
Exploration completed since acquisition of the Licence includes the following:
12,269m RC drilling (83 drill holes);
12,920 samples collected and submitted for gold fire assay;
475 line kilometres (”km”) of ground magnetic geophysics;
1.2 line km of IP – Resistivity geophysics;
875 grab and channel samples collected and analysed;
21 BLEG samples collected by Newmont under terms of an agreement;
Kouroudjin Target
A fence of 12 holes was drilled across the target focussing on regional structure defined by airborne
geophysics complemented by artisanal pits.
The local geology is dominated by a fine-grained schist with moderate chlorite alteration intruded by
a porphyritic unit. Silicification, quartz veining and pyrite are common throughout and appear to
show more intensity proximal to the contact with the intrusion and schist. Encouragingly these areas
show increased gold mineralisation, suggesting the intrusion is an important control.
Peak intersections are illustrated in Table 1 below and show the presence of both high-grade
intersections generally associated with quartz veins and lower grade wider zones typically associated
with disseminated sulphides and quartz stockwork alteration.
According to geophysical data and interpretation, there are a substantial number of conjugate
structures present which appear to be associated with mineralisation. Further work including
diamond drilling is required to achieve a better understanding of the structures and the relationship
with mineralisation.
Table 1: Kouroudjin Target peak drill intersections
Borehole
Final Depth
(m)
RC11KDJ001
160
RC11KDJ012
162
Intersection
From
(m)
94.00
Inc. 95.00
99.00
110.0
27.00
Inc. 33.00
58.00
85.00
Intersection
To
(m)
111.0
96.00
101.0
111.0
36.00
34.00
59.00
91.00
Interval
(m)
Grade
(g/t Au)
17.00
1.00
2.00
1.00
9.00
1.00
1.00
6.00
1.03
2.63
3.9
1.08
1.17
8.62
11.75
1.04
Fintakourouni Target
The Fintakourouni Target is located in the north of the Karan Licence. A total of 11 RC holes were
drilled of which 8 holes were drilled along a wide-spaced fence line over a strike length of
approximately 500m specifically to test for the linear structure being followed by artisanal mining.
Two more holes were used to test a chargeability anomaly generated by an IP-resistivity survey,
whilst another hole was drilled back across RC11FIN002 to test the mineralisation intersected
between 142m and 156m depth.
Drilling intersected a broad zone of meta-sediment with intermediate intrusions. No structural
interpretation has been possible and further drilling is required to establish the dip direction of the
structures being followed by artisans which are not replicated at depth in drilling.
Mineralised intersections achieved were consistent with the presence of quartz vein material and in
close proximity to the intermediate shear. Further work is required to establish controls to
mineralisation.
Table 2: Peak gold assays – Fintakourouni Target
Borehole
Final Depth
(m)
RC11FIN002
160
RC11FIN010
162
Intersection
From
(m)
142.0
Inc. 142.0
148.0
21.00
Inc. 24.0
Intersection
To
(m)
156.0
144.0
149.0
27.00
27.00
Interval
(m)
Grade
(g/t Au)
14.00
2.00
1.00
6.00
3.00
0.51
1.40
2.26
1.02
1.82
Koukouroula Target
55 holes were drilled over Koukouroula which is an area dominated by artisanal workings. The
original programme envisaged drilling toe to heel fences to provide full coverage of the prospect but
this was not always possible due to the large number of active miners in the area.
The geology of Koukouroula is dominated by the dark fine grained schist, with minor porphyritic
intrusions and significant quartz veining is common throughout the area, reaching up to 20 m wide
intercepts and commonly associated with low-grade but anomalous gold mineralisation. The level
and variety of alteration is notable and indicative of an area strongly affected by mineralising fluids.
Intersections of note for Koukouroula are illustrated below in Table 3.
Table 3: Koukouroula Target Peak assay intersections.
Borehole
RC11KOU006
RC11KOU007
RC11KOU017
RC11KOU029
RC11KOU038
Final
Depth (m)
146
150
Depth from
Depth to
44
10
162
63
189
150
87
92
and 94.00
45
11
Interval
(m)
1
1
Grade
(m)
2.26
4.73
70
7
1.29
99
113
97
12
21
3
0.42
0.33
1.2
The presence of a number of types of alteration and ample evidence of pyrite is encouraging and
further work is required that is expected to include diamond drilling to better understand the
significance of local structures in controlling mineralisation. The absence of high-grade intercepts
but the presence of lower grade pervasive mineralisation remains encouraging of higher grade areas
nearby.
Mana Target
5 holes were drilled to test the Mana target. Drilling intersected a dark fine-grained schist and highly
extensive porphyritic intrusions. Intrusions are believed to be an important control in gold
mineralisation in the region and the size of the intrusion intersected is encouraging. However,
alteration was less in evidence and will need to be discovered at which point there is an expectation
that improved grades may be discovered.
Table 4: Mana Target peak drill intersections
Borehole
Final Depth
(m)
RC11MAN001
RC11MAN004
72
156
RC11MAN005
162
Intersection
From
(m)
68.0
117.0
Inc. 119.0
61.00
Intersection
To
(m)
69.00
156.0
120.0
64.00
Interval
(m)
Grade
(g/t Au)
1.00
39.00
1.00
3.00
0.56
0.21
5.88
1.22
Coarse Grained Gold Potential
Artisanal mining at Karan has shown the presence of coarse-grained gold (+0.1 mm) on the property.
Routine sample preparation for fire assay can undervalue grades where coarse-grained gold is
present. Now that we have completed assays using the routine process, it is our intention to check
grades in representative mineralised holes using the significantly higher-cost screened fire assay
method to ensure we have not failed to capture coarse-grained gold in the results. This means that
mineralised intersections may return higher grades than previously identified.
Screened fire assay takes considerably longer to complete, we therefore do not expect initial results
back for approximately 6 weeks. We will update shareholders and the general market once the
programme is finished.
Planned Exploration
The Company is currently reviewing assay results and considering the next stage of exploration.
Further geophysical surveys are being planned along with some multi-element soil geochemical
programmes, RAB drilling and possible diamond drilling to establish structure detail. The Company is
also in consultation with Malian geological expertise familiar with the deep weathering profiles
typically found in the Karan region to discuss other exploration techniques that may be beneficial. A
thesis will also be undertaken this summer by a Masters student, with a focus on the alteration and
mineralisation styles identified during the recent RC drilling programme.
Table 5: Summary of drill data for Karan Licence exploration programme
Hole ID
Project
RC11KDJ001
Kouroudjin
Intersection
Intersection
Width
Grade
From (m)
To (m)
(m)
(g/t Au)
4
15
11
0.26
60
62
2
0.84
94
111
17
1.03
2m @ 0.66g/t
7-9m
1m @ 2.63g/t
95-96m
(m)
2m @ 3.9g/t
99-101m
110-111m
0.11
1m @ 0.7ppm
80-81m
1m @ 3.16g/t
90-91m
1m @ 1.98g/t
146-147m
1m @ 0.59g/t
57-58m
1m @ 8.62g/t
33-34m
Kouroudjin
80
98
18
RC11KDJ003
Kouroudjin
No
Significant
Intersections
RC11KDJ004
Kouroudjin
No
Significant
Intersections
RC11KDJ005
Kouroudjin
90
97
7
0.84
RC11KDJ006
Kouroudjin
124
127
3
0.54
156
157
1
0.59
RC11KDJ007
Kouroudjin
No
Significant
Intersections
RC11KDJ008
Kouroudjin
21
22
1
0.5
39
40
1
0.83
137
151
14
0.3
32
48
16
0.1
Kouroudjin
Depth (From - To)
1m @ 1.08g/t
RC11KDJ002
RC11KDJ009
Including
79
98
19
0.13
121
122
1
0.79
RC11KDJ010
Kouroudjin
No
Significant
Intersections
RC11KDJ011
Kouroudjin
50
70
20
0.14
RC11KDJ012
Kouroudjin
6
7
1
0.73
9
10
1
0.55
27
36
9
1.17
58
59
1
11.75
1.04
2m @ 1.93g/t
85-87m
0.51
2m @ 1.4g/t
142-144m
1m @ 2.26g/t
148-149m
1.02
3m @ 1.82g/t
24-27m
0.1
1m @ 0.24g/t
72-73m
85
91
6
RC11FIN001
Fintakourouni
No
Significant
Intersections
RC11FIN002
Fintakourouni
142
156
14
RC11FIN003
Fintakourouni
No
Significant
Intersections
RC11FIN004
Fintakourouni
No
Significant
Intersections
RC11FIN005
Fintakourouni
No
Significant
Intersections
RC11FIN006
Fintakourouni
No
Significant
Intersections
RC11FIN007
Fintakourouni
No
Significant
Intersections
RC11FIN008
Fintakourouni
No
Significant
Intersections
RC11FIN009
Fintakourouni
No
Significant
Intersections
RC11FIN010
Fintakourouni
21
27
6
RC11FIN011
Fintakourouni
No
Significant
Intersections
No
Significant
Intersections
72
97
25
No
Significant
Intersections
RC11KOU001-3
RC11KOU004
Koukouroula
RC11KOU005
RC11KOU006
Koukouroula
44
45
1
2.26
RC11KOU007
Koukouroula
10
11
1
4.73
RC11KOU008
Koukouroula
RC11KOU009-10
RC11KOU011
Koukouroula
RC11KOU012
123
150
27
0.07
23
120
97
0.08
No
Significant
Intersections
12
79
67
0.1
No
Significant
Intersections
RC11KOU013
Koukouroula
9
10
1
0.63
RC11KOU014
Koukouroula
105
134
29
0.1
RC11KOU015-16
Koukouroula
No
Significant
Intersections
RC11KOU017
Koukouroula
63
70
7
RC11KOU018-28
Koukouroula
No
Significant
Intersections
RC11KOU029
Koukouroula
64
83
19
0.1
87
99
12
0.42
RC11KOU030-31
RC11KOU032
Koukouroula
RC11KOU033-35
No
Significant
Intersections
166
167
1
No
Significant
Intersections
1.29
Koukouroula
8
20
12
RC11KOU037
Koukouroula
154
168
14
0.1
RC11KOU038
Koukouroula
92
113
21
0.33
No
Significant
Intersections
96
1
0.94
0.56
RC11KOU041
Koukouroula
95
RC11KOU044
Koukouroula
105
106
1
No
Significant
Intersections
113
160
47
No
Significant
Intersections
RC11KOU045-48
RC11KOU049
Koukouroula
RC11KOU050
0.12
Koukouroula
5
6
1
0.83
RC11KOU052
Koukouroula
6
24
18
0.11
No
Significant
Intersections
119
120
1
RC11KOU054
Koukouroula
RC11KOU055
3m @ 1.2g/t
94-97m
1m @ 1.80g/t
115-116m
1m @ 0.66g/t
6-7m
0.1
RC11KOU051
RC11KOU053
89-94m
1.36
RC11KOU036
RC11KOU039-43
5m @ 0.78g/t
0.54
No
Significant
Intersections
RC11MAN001
Mana
68
69
1
0.56
RC11MAN002
Mana
25
73
48
0.08
1m @ 0.7g/t
71-72m
No
Significant
Intersections
RC11MAN003
RC11MAN004
Mana
117
156
39
0.21
1m @ 5.88g/t
119-120
RC11MAN005
Mana
61
162
101
0.11
3m @ 1.22g/t
61-64m
1m @ 0.68g/t
150-151m
Figure 1. Geological map of the Karan permit, highlighting the four areas drilled
Please click on the link below to view the geological map
[RNS please insert link to pdf here]