Trade Resources Industry Views The Discovery of High Grade Mineralisation Has Been Confirmed

The Discovery of High Grade Mineralisation Has Been Confirmed

The discovery of high grade mineralisation has been confirmed by African Eagle's joint venture partner on the Miyabi gold project in Tanzania.

Rift Valley Resources has just completed the second phase of drilling for 2012 at the project, and the Chui prospect, which was discovered in August, was the focus of attention.

A total of 117 holes for 4,290 metres have now been completed in this second phase.

Rift reported today that drilling on one section at Chui confirmed the high grade mineralisation reported previously in one hole at 11 metres at 23.0 grams per tonne gold from 54 metres depth. Meanwhile, a new hole hit 12 metres at a grade of 6.02g/t gold from 33 metres, it revealed.

Another previously identified zone of significant mineralisation was confirmed in another hole, with the highlight result being 15 metres at 1.24 g/t of the yellow metal from 21 metres to 36 metres down hole.

Rift also said that work showed that the Chui gold zone is probably more structurally complex than had been indicated by the initial drilling program.

Exploration will continue at Miyabi during this month and January next year to infill the soil sampling grid within the Miyabi structural corridor which is aimed at targeting additional zones of mineralisation.

Miyabi lies around 200 km southwest of Mwanza in the Lake Victoria Goldfields, Tanzania. It has mineral resources contained in several deposits totalling 12.4 million tonnes at 1.3 g/t gold.

In April last year Rift entered a joint venture with African Eagle whereby it may earn a 75% interest in the project by sole funding exploration to completion of a bankable feasibility study.

Source: http://www.steelguru.com/metals_news/African_Eagle_JV_partner_confirms_high_grades_at_Miyabi/295855.html
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African Eagle JV Partner Confirms High Grades at Miyabi
Topics: Metallurgy