Balatindi Licence
The Balatindi licence is one of the three licences Burey (via its Guinea subsidiary) has selectively acquired to constitute its Kerouane Project.
Burey considers the Balatindi licence highly prospective for a large bulk tonnage body of polymetallic mineralisation (iron oxide-copper-gold-uranium [IOCGU] affinity) as well as primary uranium mineralisation and gold sourced along reverse fault conduits.
This interpretation is based on the consideration of the regional tectonic setting, remapping of regional and local geology, conjectured potential emplacement mechanisms for mineralisation, the surface distribution mapped using historic surface data, historic shallow drill-hole gold assay data and reconnaissance radiometric traverses which is supported by recovered diamond drill core variously comparable to that presented below.
Burey undertook a 2,600-metre program of regional drill tested anomalies defined through soil sampling and radiometric surveys.
We released results for five of the 10 diamond core drill holes on May 10, 2011, with further results from diamond drilling released on June 27 and October 6 2011. Results included:
- BLDD002 223 metres @ 1.3g/t Ag and 0.1%Cu from surface
- BLDD003 133 metres @ 1.3g/t Ag and 0.1%Cu from surface
- BLDD004 162.5 metres @ 0.56g/t Au from surface including: 109.8 metres @ 0.6g/t Au from 8 metres depth and 24.9 metres @ 0.63g/t Au from 121.8 metres depth
These further assay results from the Balatindi Licence consolidate the broad surface exposure and the continuity to depth of solid widths of low grade gold mineralisation and the potential for additional metal credits. Multi-element analyses are awaited for two holes, BLDD009 and BLDD010.
These results validate and extend the historic shallow drilling results reported by Mining Italiana drilling activity from 2002 to 2004, with comparable gold grades and widths demonstrated by Burey Gold to persist to significantly greater depths. Mining Italiana’s drilling tested the Balatindi mineralisation to a maximum vertical depth of about 140 metres while Burey’s drilling so far demonstrates that anomalous gold values persist to a vertical depth of at least 450 metres; for example, 1 metre @ 0.61 g/t gold from 460 metres in the BLD003 hole.
In addition, samples were taken from five regional radiometric anomalies, Prospect Areas A, B, C, D and E, and this work has demonstrated the potential of the property to host primary uranium and an associated rare earth element and/or base metal suite. Results announced on 28 October 2011 included one entire hole (BLRC006) mineralised with uranium including 8m at 254ppm U, 35m at 222ppm U, 2m at 465ppm U and 3m at 720ppm U.
However, considerable detailed study is needed before the full potential of Balatindi’s polymetallic mineralisation can be understood.
Figure 1: Balatindi Licence - Drill hole location