OPERATIONS

KERBOULÉ


The 399.5 sq. km. Kerboulé Gold Project is located in the highly prospective Birrimian-age Djibo gold belt in northern Burkina Faso. Kerboulé comprises two contiguous exploration permits, “Arae” and “Gassel-Manere” across the Djibo belt which are cross-cut by two known mineralised trends (the Inata and the Souma Trends). The permits are located 20-km along strike from Avocet’s Inata mine and their Souma deposit.

An advanced exploration project, the permits have been subject to extensive reconnaissance work and drilling. These activities, and artisanal mining, at Kerboulé have highlighted the presence of wide gold mineralisation with high grade shoots across the tenure as highlighted by long intercepts including 26 metres @ 2.37 g/t Au, 20 metres @ 2.39 g/t Au and 40 metres @ 1.94 g/t Au at Kerboulé South, and 38 metres @ 3.95 g/t Au, 29 metres @ 4.0 g/t Au and 5 metres @ 3.74 g/t Au at Kerboulé North. Drill results, including 1 metre @ 188.11 g/t Au, 2 metres @ 29.12 g/t Au, 1 metre @ 93.49 g/t Au and 1 metre @ 86.48 g/t Au, provide evidence of the bonanza grades present across the high-grade shoots.

On 27 April 2015 the Company announced the results of an independent internal resource estimate, completed by Wardell Armstrong International, within the Kerboulé-Yalema corridor (KY Trend) of 6.2Mt grading at 1.16 g/t Au for 230,758 oz Au (using a cut-off grade of 0.5 g/t). With mineralisation from surface and approximately 70% of the mineralisation contained within the oxide and transitional layers, this confirmed the potential of the project.


Analysis of auger geochemical sampling by Alecto geologists identified a further large zone of mineralisation coincident with a geophysical anomaly (Palpaga), which lies along strike of Avocet Mining’s 780,000 oz Au Souma deposit (see Figure 1). Given the further exploration potential of this expansive project, Alecto has lodged a renewal application with the Ministry of Mines in Burkina Faso to extend the life of the permits. Further exploration work has the potential to add significantly to the known gold resources at Kerboulé and aid in a development decision to position Kerboulé as another gold production opportunity.

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