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. First pass RC drilling completed recently identified gold mineralisation in two separate structures with significant results comprising 18m @ 7.8g/t Au, 23m @ 2.65g/t Au and 20m @ 4.15g/t Au. There is excellent potential for gold discovery at open pittable depths.
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.