Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Goldrush reports new gold discovery in southeastern Burkina Faso

Goldrush Resources (CVE:GOD) announced Thursday assay results from its 67-hole reverse circulation (RC) drill program in Burkina Faso, West Africa, discovering new gold mineralization.

Assays from the drill program on the Gonaba Est permit, measuring 80 square kilometres, and the Nakiambouri permit, measuring 225 square kilometres, have confirmed the discovery of gold mineralization coincident with chargeability highs from induced polarization surveying and elevated rock sample gold assays, the company said.

At Nakiambouri, a quarter of all assay results found anomalous gold grading at least 0.1 grams  per tonne (g/t). Holes NKR11-001 and NKR11-017 returned 43% and 50% anomalous gold, respectively, suggesting that the gold mineralized envelope is quite wide in this area.

Of the 15 holes drilled on Nakiambouri, 11 encountered at least one metre of shallow gold mineralization, grading at least 0.5 g/t gold, to a maximum of 4.16 g/t gold.

The Nakiambouri permit returned one metre grading 4.16 g/t gold out of hole NKR11-008, and 3.99 g/t gold over one metre from drill hole NKR11-012.

Out of the Gonaba Est permit, drill results at the Konkofoni Southwest target included two metres grading 5.05 g/t gold in hole GEKR11-003.

Moreover, assays from the Konkofoni (Hong Kong) target returned six metres measuring 2.18 g/t gold at a vertical depth of 53.2 metres in hole GEKR11-012, leading the company to believe that the gold zone widens at depth. On the same target, hole GEKR11-004 found 11.35 g/t gold over one metre.

Meanwhile, on the Kilou target on the Tikare permit, 2.48 g/t gold over four metres was found in hole TKKR11-010, located approximately 12 kilometres northwest of Goldrush's 249,000 ounce Ronguen gold deposit, where exploration is ongoing.

To follow up on the promising results, the Canadian mineral exploration company said it has entered into contracts to conduct 10,000 metres of reverse circulation drilling, and 8,000 metres of core drilling in late August, after seasonal rains in the area have abated.

In the meantime, Goldrush said it is conducting mapping, gridding, soil sampling and induced polarization geophysical surveys throughout its permit areas to refine potential drill hole locations.