Woulo Woulo drill results released today include numerous near-surface gold intercepts and expand a nearly 3-kilometre strike extent of continuous known gold mineralization to depths exceeding 150 metres. Results indicate that Woulo Woulo remains open along trend and to depth, building upon strong initial results announced in
Drilling Highlights
39 m @ 1.69 g/t gold, including 23 m @ 2.37 g/t gold from 96 m down hole depth (DHD) in WWDD-021
57 m @ 1.38 g/t gold, including 18 m @ 2.19 g/t gold from 23 m DHD in WWDD-056
54 m @ 1.51 g/t gold, including 15 m @ 2.56 g/t gold from 146 m DHD in WWDD-071
48 m @ 1.41 g/t gold, including 11 m @ 3.02 g/t gold from 78 m DHD in WWDD-074
70 m @ 1.50 g/t gold, including 25 m @ 3.09 g/t gold from 48 m DHD in WWDD-084
'The results from our recent exploration and drilling at the Woulo Woulo prospect support our expectation that the Afema project has significant potential for future development,' said
The Woulo Woulo prospect is the most recent discovery at Afema, a project that covers more than 1,400 square kilometres. It includes a historical near-surface oxide and sulphide resource and lies within an area hosting several gold mineralized structures on extensions from prolific gold belts in
'Our team is encouraged by the broad widths and considerable depths of gold mineralization across the Woulo Woulo prospect's entire known strike extent,' said
Woulo Woulo Prospect Overview
The Woulo Woulo prospect is currently comprised of four parts: North, Central, South and East. Woulo Woulo West is now being readied for trenching and drilling. Each component of this prospect exhibits the same unique geologic host displaying very similar alteration, structure, veining and mineralization over a presently defined minimum strike extent approaching 3,000 metres .
The recent discovery at the Woulo Woulo prospect has been outlined utilizing coincident field mapping/prospecting observations, gold-in-soil geochemistry, airborne magnetics/radiometrics imagery and excavator trenching results. All have culminated in an ongoing systematic RC and DD drilling evaluation. To date, we have drilled 137 DD holes and 23 RC holes totaling more than 22,000 metres at this high-priority prospect.
The host rock geology of the gold mineralization at the Woulo Woulo prospect is an altered felsic intrusive unit within a mixed sedimentary and mafic volcanic sequence. Two distinct types of alteration have been observed, one dominated by hematite and the second dominated by sericite. Both display similar brittle shear fracturing, occasionally brecciated, and multiple oriented fracture-controlled quartz veining with minor pyrite. The mineralized felsic unit is exposed at surface and drilling to-date has not identified a lower depth limit. In addition, the felsic unit remains open to further extension along trend both to the north and south.
The most recent drilling program has focused on both infill drilling at 40-metre sections along the current 3 km strike length, as well as stepping back from the earlier successful drilling campaign to test the extent and continuity of mineralization to greater depths. This ongoing phase of drilling has demonstrated that the Woulo Woulo gold mineralized body remains robust to the depths drilled. Positive grades and widths of mineralization, encountered in our drilling program since discovery in early 2020, remain open to along trend and to-depth expansion, which will be evaluated further during our multi-drill exploration program.
Next Steps for Afema Property
Continue the multi-drill exploration campaign at the Woulo Woulo prospect, the Niamienlessa structural trend and the Afema Shear .
Expand trenching and drilling to new areas of interest within the Afema mining license and outward onto the three regional exploration permits.
Initiate early-stage metallurgical test work and environmental and social assessments.
Work towards completing an initial resource estimation for all of Woulo Woulo, Afema Shear and Niamienlessa, expected during H1 2021.
Forward-Looking Statements
This press release contains certain statements that constitute forward-looking information within the meaning of applicable securities laws ('forward-looking statements'), which reflects management's expectations regarding Teranga's future growth and business prospects and opportunities. Forward-looking statements include, without limitation, all disclosure regarding possible events, conditions or results of operations, future economic conditions expectations and anticipated courses of action. Specific forward-looking statements in this press release include, but are not limited to, statements and information with respect to the exploration potential of Afema and the Woulo Woulo prospect in particular and the costs and timing in respect thereof, proposed operational changes and the timing thereof, future opportunities for enhancing development at Afema, and timing for the release of the Company's disclosure in connection with the foregoing. Although the forward-looking statements contained in this press release reflect management's current beliefs based upon information currently available to management and based upon what management believes to be reasonable assumptions, such forward-looking statements are based upon assumptions, opinions and analysis that management believes to be reasonable and relevant but that may prove to be incorrect. Teranga cautions you not to place undue reliance upon any such forward-looking statements.
The risks and uncertainties that may affect forward-looking statements include, among others: the inherent risks involved in exploration and development of mineral properties, including government approvals and permitting, changes in economic conditions, changes in the worldwide price of gold and other key inputs, changes in mine plans and other factors, such as project execution delays, many of which are beyond the control of Teranga, as well as other risks and uncertainties which are more fully described in Teranga's 2019 Annual Information Form dated
About the
Teranga holds a 51% interest in the project with privately held
About Teranga
Teranga is a mid-tier gold producer operating two mines - Sabodala-Massawa and Wahgnion - and advancing prospective exploration properties across
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