TSE-listed International Gold Resources has succeeded in drilling nine shallow reverse-circulation holes and six deeper diamond drill holes at the Bibiani gold project in Ghana.
Three intersections, which occurred between depths of 288 ft. and 486 ft. below surface, were particularly impressive: 0.21 oz. per ton over 197 ft.; 0.1 oz. over 128 ft.; and 0.04 oz. over 68 ft.
The program, now half complete, is expected to define minable reserves within a planned open pit that will reach a depth of more than 600 ft. The company anticipates converting the initial resource estimate of 14 million tons averaging 0.108 oz. per ton to the status of proven and probable. It also plans to prove up additional reserves before carrying out a feasibility report, expected by mid-May.
Core drilling between 450 and 600 ft. below surface is in progress. Full definition of all available reserves is expected by June, at which time International Gold expects to have 2 million oz. of minable reserves in the main pit.
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