GOLD: Teranga discovers new zone at Golden Hill

[caption id="attachment_1003733270" align="aligncenter" width="600"] Sabodala operations. Credit: Teranga Gold[/caption] BURKINA FASO – The latest exploration results from Teranga Gold’s Golden Hill project indicate a new discovery at the Ma Jonction prospect and have returned additional high-grade, near-surface gold intercepts. Drill highlights from Ma Jonction, located between the previously defined Ma Main and Ma North zones, include 8 metres of 6.4 g/t gold starting at 10 metres and 3 metres of 44.11 g/t gold starting at 33 meters. Other intercepts of note from the greater Ma complex include 7 metres of 17.75 g/t gold starting at 164 metres from Ma Main and 4 metres of 46.05 g/t gold starting at 37 metres from Ma North. The C-Zone prospect returned 7 metres of 32.67 g/t gold starting at 46 metres. The company started drilling at Golden Hill in the second half of last year, the work was focused on nine targets with four located within the Ma structural area. “We are excited about the results we are seeing from the current drill program, which is intended to increase resources as we move the project through a preliminary economic assessment and into feasibility,” Paul Chawrun, Teranga’s COO said in a release. “In addition to another high-grade, near-surface discovery, the drill results reported today demonstrate positive continuity, grade, width, and extended mineralization in several zones.” Teranga plans to update resources for the property and apply for a mine license for Golden Hill in the third quarter. Drilling will continue in the first half of this year with five additional zones targeted. Additional early stage engineering and metallurgical test work is ongoing to advance the project towards a preliminary economic assessment. Current open-pit resources for Golden Hill stand at 6.4 million tonnes grading 2.02 g/t gold for a total of 415,000 gold oz. in the measured and indicated category with additional inferred resources of 11.9 million tonnes at 1.68 g/t gold for a total of 644,000 oz. The majority of current resources are contained within the Ma and Peksou/C-zone deposits. Teranga currently has two operating open-pit mines in Africa: Sabodala in Senegal and Wahgnion in Burkina Faso. Prior to the Massawa project acquisition announced in December, the company had been targeting production of 300,000 oz. to 350,000 oz. of gold this year; it expects to start processing Massawa ore at the Sabodala plant in the second half of the year. For more information, visit www.TerangaGold.com.