Arbor Metals has the right to 75% interest in the Rakounga project, with an option to acquire the remaining 25% for a payment of $1,000,000, subject to a 1% NSR.
The project is a 250-sq km (25,000 hectare) highly prospective gold exploration property, located along the Goren Greenstone Belt, in Central Burkina Faso. Rakounga contains multiple active orpaillages (artisinal mining areas), namely Koaltenga, Gounga and Porphyry, which confirm widespread gold mineralization is present.
Past exploration includes a summer of 2017 sampling program at Rakounga, with select sample highlights including 19.95 g/t Au at Porphyry, 14.90 g/t Au, at Gounga, and 17.30 g/t Au at Koaltenga. With an additional 3000m RC drilling program in October 2017, with 10 holes at Koaltenga successfully identifying a broad zone of gold mineralization extending over 300 meters long strike and to depths of 80 meters below surface.
Highlights include hole RC-002 which intersected 32m of 1.01 g/t Au, including 2m of 5.65 g/t Au, and 6m of 2.81 g/t Au, and hole RC-008 which returned 34m of 1.00 g/t Au, including 4m of 5.57 g/t Au. This structure remains open along strike both to the north east and south west and to depth.
In July 2018, geologists conducted a 105-line-kilometer soil sampling survey at the Rakounga concession. Results from the survey successfully identified an anomalous gold trend which extends for approximately 7000m (7km) along the southwest-northeast axis and broadens to widths of 2500m.
The newly identified gold trend aligns with a trend previously identified at the neighbouring Bouboulou concession. The survey included line spacing of 400m with samples collected at stations established along the lines at intervals of 50m, with a total of 1,960 samples submitted to Actlabs in Burkina Faso for analysis.
The technical content of this summary has been reviewed and approved by Dr. Peter Born, P. Geo., a qualified person for the purposes of National Instrument 43-101.
Arbor Metals commences review of resource projects
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