Progress Minerals Inc. Agreement
The SAO project has been optioned to Progress Minerals Inc. (financially backed by Sandstorm Gold Royalties TSX: SSL).
- Progress Minerals Inc have an option to purchase Aforo’s interest in Sao for 1,600,000 fully paid and non-assessable common shares without par value in the share capital of Progress and will conduct during the option period first pass soil sampling of the entire tenement on grid of 400m by 200m.
Location and Tenure
The Sao property consists of a single Permis de Recherche (PdR) some 245.96 km2 in area located approximately 70km west of the regional city of Koudougou, and 165km west of Ouagadougou (see map below).
The project is located in the northern part of the highly mineralised Houndé Greenstone Belt, some 100km NNE of the 4 million ounce Mana deposit. The project is considered particularly prospective because this belt hosts the majority of the high-grade gold occurrences discovered in the recent era in Burkina Faso, including Semafo’s (TSX, OMF:SMF) recently discovered Siou deposit (reserves of 769 koz @ 4.94 g/t gold); plus the high grade Yaramoko deposit owned by Roxgold (TSX.V: ROG) (790 koz @ 17.15 g/t gold). The belt also hosts Semafo’s Mana gold mine (6 Moz) and Endeavour Mining’s (TSX: EDV, ASX: EVR) 2Moz 2.0 g/t Houndé deposit.
Regional Geology and Tenements
Key Elements for Future Prospecting
- Continue searches for exploration data from past campaigns to assist future targetting (albeit vendor represents that very little previous exploration has been undertaken here).
- The entire permit is crossed in its central zone by a structure of regional magnitude oriented NE-SW which possibly represents the eastern boundary fault of the Boromo belt (see map below). Such major boundary faults or associated splays often represent preferential sites for gold mineralisation.
- A brief reconnaissance visit by Aforo over the northern part of the PdR identified some reasonably extensive artisanal gold workings.
- The property represents a large area (245.96 km2) within a very permissive and prospective greenstone belt that has not had thorough past exploration. On this basis alone, it represents a very attractive greenfields property, within which we know from past experience, early-stage prospecting techniques can quickly identify and advance discoveries, if near-surface gold systems are present.
Sao Project Geology and Regional Structure
The minimum work programme agreed to with Progress Minerals will consist of regional soil sampling on 400m x 200m grid as shown below.
Samples will be collected from shallow pits (10 to 20 cm in depth), located by GPS and analysed for gold by Aqua Regia solution/AAS and multi-elements by ICP.
The collection of approximately 3000 samples is planned.
Broad geological boundaries as shown.
Sao planned work
Photos of artisanal workings in the north of the tenement follow
Artisanal Gold Workings at Sao
Artisanal Gold Workings at Sao
Artisanal Gold Workings Stockpiled Bags of Ore
Artisanal Gold Workings – Quartz Vein from Stockpile Ore Bag
West African focused exploration
and development company
If you would like more information on the activities of Aforo Resources Limited or are interested in this exciting venture please contact us using the email link below or the form provided.