EXPLORATION UPDATE
Kubi East Trenching Program: During the months of January thru March a program to test previously located Induced Polarization (IP) anomalies, consisting of six excavator trenches and hand dug extensions, totaling 216m in length and to depths of 6m, were completed, with 53 channel samples analysed. Only background gold levels were noted. All trenches have now been backfilled using local village labour and returned to agricultural use.
TR-01 and TR-02 covering the highest priority IP targets outlined to date on the east side of the
TR-03 to TR-06 were cut in saprolite, primarily mauve to mottled beige Tarkwaiian boulder meta conglomerates and mottled beige to white Tarkwaiian meta sandstones. No sulfides, pervasive silicification or graphitic shear zones were noted. In TR-03 a 5m wide, distinct buff to white meta sandstone containing up to 5% coarse disseminated magnetite was noted. This unit is conformable with the regional foliation at Az 021 degrees, was confirmed by the recent ground magnetometer survey, and is offset circa 12m to the east of the targeted IP anomaly axis. The lack of shearing may indicate that the source of these IP and magnetic anomalies is primary sulfides and magnetite in distinct stratigraphic units.
This paleo sedimentary environment can also concentrate gold. Further IP, magnetic and auger soil sampling is planned to the East, North and South of the current program.
Kubi 513
The 513 zone was first discovered in 2009 and 3,077m drilled to date in 25 shallow holes over a strike length of 540m. The zone is hosted in a vertical to moderately east dipping garnetized metagabbro similar to the garnet zone at Kubi Main. Best previous drill results are 4.8m at 3.76g/t from 85m depth, 8m at 3.68g/t from 64m, and 1m at 15.3 g/t from 66m. Mineralization consists of visible gold, minor pyrrhotite and arsenopyrite. Gold mineralization appears related to local magnetic highs and suggests a potential strike extension of at least another 150m to the north. Further magnetic surveys are planned to fully define the strike extensions prior to additional drilling.
On behalf of the Board, we would like to take this opportunity to extend our sincere wishes that all our shareholders, employees and their families remain healthy and safe in these difficult times.
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