DGR Global (ASX: DGR) has reported the continued development of its wider resource interests with the release of high grade gold assays by Mt Isa Metals (ASX: MET) from the Nabanga Gold Prospect in Burkina Faso.
The company currently holds 52 million shares (33%) in Mt Isa Metals, which has confirmed high grade gold mineralisation at the North Zone over a 600 metre strike length and to a minimum 100 metre vertical depth.
Notable intersections from reverse circulation drilling include:
- 5 metres at 6.81 grams per tonne (g/t) gold from 21 metres, including 2 metres at 11.25g/t from 23 metres;
- 12 metres at 4.78g/t from 16 metres, including 3 metres at 16.02g/t from 24 metres; and
- 4 metres at 16.06g/t from 21 metres, including 3 metres at 21.23g/t.
The new North Zone intersections together with those recently reported from the Central Zone target confirm high grade gold mineralisation at Nabanga over a total 1.1 kilometre strike length.
The North Zone mineralisation remains open at depth below deepest drilling to date which includes 3 metres at 20.12g/t gold from 110 metres - 100 metre vertical depth, and 4 metres at 3.96g/t from 131 metres - 120 metre vertical depth.
To date assays have been received for 47 reverse circulation drill holes from within the North Zone target area. The average down hole drill intersection for all holes is 4 metres at 4.98g/t gold.
Additional reverse circulation drilling is currently in progress across the North Zone, Central Zone and South Zone areas.
These latest results follow on from a suite of positive drilling results released by Mt Isa Metals earlier in the month for the same project, which has now been separated into distinct "zones" given its overall size.
Exploration and further drilling is ongoing at Nabanga as Mt Isa Metals works towards a maiden gold Resource anticipated for release in the June quarter.
Navaho Gold is currently undertaking drilling activities in Nevada, U.S. to identify gold and silver mineralisation while Solomon Gold is continuing development of an expanding gold and silver Resource at Rannes in Queensland.
DGR is currently progressing the corporate development of Archer Resources, focusing on copper-gold‐silver porphyry systems, and IronRidge Resources.
IronRidge is undertaking project research and identification for iron ore in west Africa.
Capital raisings and stock exchange listings for these companies are in planning for 2012.
DGR is also continuing to progress the development of Armour Energy which is dedicated to the discovery and development of world class gas resources in an extensive new province in Northern Australia.
The area currently under tenure/application covers in excess of 125,000 square kilometres of the McArthur, South Nicholson and Georgina Basins.
Planning is well advanced for an IPO during the current March quarter.