Burey Gold Limited (ASX: BYR) is an ASX-listed explorer with projects in Guinea and the Democratic Republic of Congo (DRC).
The company’s main asset, the Giro Gold Project is located in the Moto Gold Belt, DRC in Central Africa. The Giro Gold Project is situated 30km from Randgold and AngloGold Ashanti’s 17Moz Kibali project in North East Democratic Republic of Congo, which produced 65,318 ounces gold during September 2014 quarter.
Giro is comprised of two exploitation permits covering a total area of 610 km2, which has been the subject of historical gold mining. Recent drilling results from 8 holes have returned significant sections including 97m at 2.67g/t Au from surface, including 55m at 3.28g/t Au from 21m. Further significant results also included 6m at 22.68g/t Au including 3m at 44.2g/t Au. These results have confirmed that mineralisation is open to the southeast and northwest respectively and also open at depths exceeding 80m with holes ending in mineralisation.
Both the Kibali and Giro projects occur within the Kilo-Moto Belt, one of the world’s principal greenstone belts which also hosts AngloGold Ashanti’s deposits to the east and Loncore and Kilogold deposits to the south. Approximately 50Moz of gold has been discovered in the Tanzanian portion of the belt since 1994.
The Balatindi Project in east Guinea is the company’s secondary asset, and is considered to be highly prospective for polymetallic mineralisation with IOCGU (iron oxide, copper gold, uranium) potential.