Samax hits new gold vein in Ghana

Samax Gold (SMX-T) has identified a gold-bearing vein system on its 65%-owned Nkroful property in Ghana, West Africa.

Drilling along a 300-metre-long portion of the Bokrobo vein system, called the Main vein, returned significant results, including: 71.7 grams gold per tonne over 5 metres in hole NB-21; 147 grams over 6 metres in hole NB-8; 20 grams over 4 metres in hole NB-20; 8 grams over 4 metres in hole DH-1; and 11.4 grams over 4 metres in hole BK-4.

The Main vein has been tested with 12 drillholes over 300 metres of strike length and 120 metres downdip.

According to the company, each of the 12 holes intersected gold mineralization. The uncut average of all intersections is 43.2 grams over a true width of 2 metres.

The newly discovered vein remains open at depth and to the north. A bedrock assay from a pit 100 metres north of the last drillhole returned 36.4 grams gold, suggesting that the vein potentially extends in that direction.

The Bokrobo system also hosts three adjacent and parallel splays of lesser continuity. Drilling and trenching on those structures returned an average of 7 grams over widths of 1 to 10 metres. According to the company, several other untested prospects exist on the property, which is situated on the southern edge of the Ashanti-Prestea gold belt.

The company intends to test the Bokrobo system to a depth of 300 metres in an attempt to define resources sufficient to support a high-grade underground mine.