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Pasofino Gold Intersects Gold Zones with over 20 Metres Interval at 'Bukon Jedeh', Dugbe Gold Project in Liberia

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Pasofino Gold (TSXV: VEIN) (OTCQB: EFRGF) has announced results from its maiden diamond core drilling at the Bukon Jedeh 'gold camp' within the Dugbe Gold Project in Liberia. Highlights include:

  • 8 out of 11 holes reached target depth with gold mineralized intervals
  • BKDD001: 21.3m with an average grade of 0.9 g/t Au from 53.5m downhole
  • BKDD004: 4.0m with an average grade of 2.1 g/t Au from 46.5m downhole
  • BKDD011: 2.5m with an average grade of 2.2 g/t Au from 43.5m downhole

The company plans to focus future exploration on the western area of Bukon and the DSZ target, which is 4 km from the Tuzon deposit and yielded 36m at an average of 0.6 g/t Au in a previous channel cut.

Pasofino Gold (TSXV: VEIN) (OTCQB: EFRGF) ha annunciato i risultati del suo primo drilling di nucleo di diamante nel 'campo d'oro' di Bukon Jedeh all'interno del Progetto d'Oro Dugbe in Liberia. Tra i punti salienti ci sono:

  • 8 dei 11 fori hanno raggiunto la profondità target con intervalli mineralizzati di oro
  • BKDD001: 21.3m con un grado medio di 0.9 g/t Au da 53.5m di profondità
  • BKDD004: 4.0m con un grado medio di 2.1 g/t Au da 46.5m di profondità
  • BKDD011: 2.5m con un grado medio di 2.2 g/t Au da 43.5m di profondità

La società prevede di concentrare le future esplorazioni nell'area occidentale di Bukon e sull'obiettivo DSZ, che si trova a 4 km dal deposito di Tuzon e ha fornito 36m con una media di 0.6 g/t Au in un precedente taglio di canale.

Pasofino Gold (TSXV: VEIN) (OTCQB: EFRGF) ha anunciado los resultados de su primera perforación de núcleo de diamante en el 'campo de oro' de Bukon Jedeh, dentro del Proyecto de Oro Dugbe en Liberia. Entre los destacados se incluyen:

  • 8 de los 11 hoyos alcanzaron la profundidad objetivo con intervalos mineralizados de oro
  • BKDD001: 21.3m con un grado promedio de 0.9 g/t Au desde 53.5m de profundidad
  • BKDD004: 4.0m con un grado promedio de 2.1 g/t Au desde 46.5m de profundidad
  • BKDD011: 2.5m con un grado promedio de 2.2 g/t Au desde 43.5m de profundidad

La empresa planea enfocar futuras exploraciones en el área occidental de Bukon y el objetivo DSZ, que se encuentra a 4 km del depósito de Tuzon y arrojó 36m con un promedio de 0.6 g/t Au en un corte de canal anterior.

파소피노 골드 (TSXV: VEIN) (OTCQB: EFRGF)는 리베리아의 둡게 골드 프로젝트 내 부콘 제데의 '금 캠프'에서 첫 다이아몬드 코어 시추 결과를 발표했습니다. 주요 내용은 다음과 같습니다:

  • 11개 홀 중 8개가 목표 깊이에 도달하여 금 광물화 구간을 기록했습니다
  • BKDD001: 21.3m의 시추에서 53.5m 깊이에서 평균 0.9 g/t Au
  • BKDD004: 4.0m의 시추에서 46.5m 깊이에서 평균 2.1 g/t Au
  • BKDD011: 2.5m의 시추에서 43.5m 깊이에서 평균 2.2 g/t Au

회사는 부콘의 서부 지역과 Tuzon 매장에서 4km 떨어진 DSZ 목표에 대한 향후 탐사를 집중할 계획입니다. 이전 채널 컷에서는 평균 0.6 g/t Au의 36m를 기록했습니다.

Pasofino Gold (TSXV: VEIN) (OTCQB: EFRGF) a annoncé les résultats de son premier forage diamanté au camp d'or de Bukon Jedeh, dans le cadre du projet d'or Dugbe en Libéria. Les points saillants incluent :

  • 8 des 11 forages ont atteint la profondeur cible avec des intervalles minéralisés en or
  • BKDD001 : 21,3m avec une teneur moyenne de 0,9 g/t Au depuis 53,5m de profondeur
  • BKDD004 : 4,0m avec une teneur moyenne de 2,1 g/t Au depuis 46,5m de profondeur
  • BKDD011 : 2,5m avec une teneur moyenne de 2,2 g/t Au depuis 43,5m de profondeur

La société prévoit de concentrer les futures explorations dans la zone ouest de Bukon et sur la cible DSZ, qui se trouve à 4 km du gisement de Tuzon et qui avait donné 36m avec une moyenne de 0,6 g/t Au lors d'une coupe de canal précédente.

Pasofino Gold (TSXV: VEIN) (OTCQB: EFRGF) hat die Ergebnisse seiner ersten Diamantkernbohrung im 'Goldcamp' Bukon Jedeh innerhalb des Dugbe Goldprojekts in Liberia bekannt gegeben. Höhepunkte sind:

  • 8 von 11 Bohrlöchern erreichten die Zieltiefe mit goldmineralisierten Intervallen
  • BKDD001: 21,3m mit einem durchschnittlichen Gehalt von 0,9 g/t Au ab 53,5m Bohrtiefe
  • BKDD004: 4,0m mit einem durchschnittlichen Gehalt von 2,1 g/t Au ab 46,5m Bohrtiefe
  • BKDD011: 2,5m mit einem durchschnittlichen Gehalt von 2,2 g/t Au ab 43,5m Bohrtiefe

Das Unternehmen plant, zukünftige Erkundungen auf den westlichen Bereich von Bukon und das Ziel DSZ zu konzentrieren, welches sich 4 km vom Tuzon-Vorkommen befindet und при vorherigen Kanalabschnitten 36m mit einem Durchschnitt von 0,6 g/t Au erbrachte.

Positive
  • Maiden drilling program intersected gold mineralization in 8 out of 11 holes
  • BKDD001 showed 21.3m with 0.9 g/t Au, indicating potential 'build-up' of mineralization
  • DSZ target yielded 36m at 0.6 g/t Au in previous channel cut, offering additional exploration potential
  • Geological structure at Bukon similar to nearby 2.3 Moz Tuzon deposit
Negative
  • None.

Toronto, Ontario--(Newsfile Corp. - October 2, 2024) - Pasofino Gold Limited (TSXV: VEIN) (OTCQB: EFRGF) (FSE: N07A) ("Pasofino" or the "Company") is pleased to announce results of analysis from its maiden diamond core drilling at the Bukon Jedeh 'gold camp' ("Bukon") (see June 3, 2024 press release) and provides an update on other key exploration targets within the Company's Dugbe Gold Project, Liberia, which has a 3.3 Moz Measured and Indicated Mineral Resource Estimate[1].

Highlights

  • 8 of the 11 holes that reached target depth have gold mineralised intervals including:
    • BKDD001: 21.3m with an average grade of 0.9 g/t Au from 53.5m downhole
    • BKDD004: 4.0m with an average grade of 2.1 g/t Au from 46.5m downhole
    • BKDD011: 2.5m with an average grade of 2.2 g/t Au from 43.5m downhole
  • BKDD001, the westernmost drill hole on the main trend, indicates a potential 'build-up' of mineralisation towards an interpreted fold closure, a structural feature similar to that controlling the nearby 2.3 Moz Tuzon deposit. Future drilling will aim to test down-dip and along trend from BKDD001, and

  • Additional exploration is planned for the DSZ target, situated 4 km along strike from the Tuzon deposit, where a 2021 channel cut into bedrock returned 36m at an average grade of 0.6 g/t Au, though it remains untested by drilling.

Pasofino CEO Warren Greenslade, commented:

"The intersection of gold mineralisation over 20m in length from our maiden drilling program is highly encouraging, especially given the wide spacing between holes. Further work aimed at chasing down the zone in BKDD001 is a key focus, with efforts aimed at targeting the potential fold closure to the west. Additionally, drill testing is also warranted at the DSZ target which returned a wide interval with 0.6 g/t Au from a channel cut into bedrock. DSZ is directly on-trend from our 2.3Moz Tuzon deposit."

Future focus in the west of the area

As shown in Figure 1, Pasofino's drilling program includes several historical RC holes in the area. BKDD001's significance lies in its location-1 km west of BKDD004, which tested the central axis of the target. It may be that the mineralisation is 'building' towards a fold closure interpreted in the west of Bukon based on magnetic and structural mapping.

This geological structure, which controls the nearby Tuzon deposit, suggests that the gold at Bukon may be better developed toward the hinge of a large antiform, similar to Tuzon. At Bukon, future work should focus in the west, beginning with 'stepping-out' from BKDD001, down-dip and along strike. While artisanal mining is less prevalent in this area, the suspected hinge zone may be plunging westward, possibly preventing outcropping. The gold at Bukon is hosted by a pyroxene-bearing gneiss with minor sulphides, very similar to the host-rock at Tuzon.

DSZ Target Offers Additional Potential

Exploration will also include testing broad gold zones encountered at the DSZ target, located only 4 km from the Tuzon deposit. The DSZ target is particularly promising, with a previous channel cut into bedrock yielding 36m at an average of 0.6 g/t Au. Individual 2-metre samples within this interval reached grades of up to 2 g/t Au. This target represents a high-priority drilling prospect for the Company, with the potential to expand on existing resources at Tuzon.

Pasofino remains committed to advancing its exploration efforts at both Bukon and the DSZ target to unlock further potential within the Dugbe Gold Project.

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Figure 1. Map showing the Bukon Jedeh gold 'corridor' with Pasofino's drillholes and hard rock pits.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6283/225353_8b13c3a62441e911_001full.jpg

Table 1. Coordinates and azimuth and inclination of Pasofino's drillholes.

BHIDEastUTM29NNorthUTM29NAzimuthInclinationFinal depth
BKDD001560034556827180-60118.5
BKDD0025598645569860-55124.3
BKDD003561440556831180-5570.3
BKDD004561129556870180-60100.7
BKDD0055629275567360-55130.4
BKDD006561957557133180-60151.3
BKDD007563227557190180-55100.8
BKDD009562808556838NA-90122.1
BKDD010562693557168180-60145.3
BKDD011563227557291180-55130.6
BKDD012562446557081180-55133.5

BKDD008 failed at 6m depth due to fractured ground.
All hole positions collected using a hand-held GPS.

Table 2. All intersections from the 2024 diamond core drilling

BH IDFrom (m)To (m)Interval (m)Au (g/t)Oxide/Fresh
BKDD0010.03.43.41.3oxide
and53.574.821.30.9fresh
BKDD0028.811.83.01.4fresh
and26.629.63.01.1fresh
BKDD0037.010.53.51.2oxide
BKDD0043.57.05.31.3oxide
and46.549.54.02.1fresh
BKDD0057.09.52.50.8oxide
BKDD00679.585.56.00.9fresh
BKDD007no significant interval
BKDD008 failed hole (stopped at 6.2m)
BKDD009no significant interval
BKDD010no significant interval
BKDD01143.546.02.52.2fresh
and90.591.81.31.2fresh
BKDD012112.0116.54.50.7fresh

 

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Figure 2. Map showing the Dugbe MDA area and the location of the Bukon Jedeh and DSZ targets relative to the Tuzon and Dugbe F deposits.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6283/225353_8b13c3a62441e911_002full.jpg

SAMPLING PROCEDURE AND QUALITY ASSURANCE AND QUALITY CONTROL (QAQC)

The drillhole collar positions were determined using a handheld GPS. Samples were mostly 1.5m and of half-core. Samples were prepared at Liberia Geochemical Services (Inc. in Monrovia) and sent analysed by SGS in Tarkwa Ghana, a facility compliant to ISO 17025:2005 for the analytical methods used for the samples. All samples were analysed by fire assay with atomic absorption finish on a sample with 50g nominal weight. A certified standard and a blank were inserted and the results of these QAQC samples are acceptable.

QUALIFIED PERSONS STATEMENT

Scientific or technical information in this disclosure that relates to exploration results was prepared and approved by Mr. Andrew Pedley. Mr. Pedley is a consultant of Pasofino Gold Ltd.'s wholly-owned subsidiary ARX Resources Limited. He is a member in good standing with the South African Council for Natural Scientific Professions (SACNASP) and is as a Qualified Person under National Instrument 43-101.

ABOUT THE DUGBE GOLD PROJECT

The 2,078 km2 Dugbe Gold Project is in southern Liberia and situated within the southwestern corner of the Birimian Supergroup which is host to most West African gold deposits. To date, two deposits have been identified on the Project; Dugbe F and Tuzon discovered by Hummingbird Resources Plc ("Hummingbird") in 2009 and 2011 respectively. The deposits are located within 4 km of the Dugbe Shear Zone which is thought to have played a role in large scale gold mineralization in the area.

A significant amount of exploration in the area was conducted by Hummingbird up until 2012 including 74,497 m of diamond coring. Pasofino drilled an additional 14,584 m at Tuzon and Dugbe during 2021. Both deposits have Mineral Resource Estimates dated 17 November 2021 with total Measured and Indicated of 3.3 Moz with an average grade of 1.37 g/t Au, and 0.6 Moz in Inferred. Following the completion of the Definitive Feasibility Study in June 2022 a Mineral Reserve Estimate was declared, based on the open-pit mining of both deposits over a 14-year Life of Mine. A technical report for the Dugbe Gold Project was prepared in accordance with National Instrument 43-101 and filed on SEDAR at www.sedar.com and on the Company's website.

In addition to the existing deposits there are many gold prospects within the Project including the Bukon Jedeh area and the DSZ target on the Tuzon-Sackor trend where Pasofino has discovered a broad zone of surface gold mineralisation in trench and outcrop along strike from Tuzon.

In 2019, Hummingbird signed a 25-year Mineral Development Agreement ("MDA") with the Government of Liberia providing the necessary long-term framework and stabilization of taxes and duties. Under the terms of the MDA, the royalty rate on gold production is 3%, the income tax rate payable is 25% (with credit given for historic exploration expenditures), the fuel duty is reduced by 50%, and the Government of Liberia is granted a free carried interest of 10% in the Project.

ABOUT PASOFINO GOLD LTD.

Pasofino Gold Ltd. is a Canadian-based mineral exploration company listed on the TSX-V (VEIN).

Pasofino, through its wholly-owned subsidiary, owns 100% of the Dugbe Gold Project (prior to the issuance of the Government of Liberia's 10% carried interest).

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information, please visit www.pasofinogold.com or contact:

Lincoln Greenidge, CFO
T: 416 451 0049
E: lgreenidge@pasofinogold.com

CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING STATEMENTS

This news release contains "forward-looking statements" that are based on expectations, estimates, projections and interpretations as at the date of this news release. Forward-looking statements are frequently characterised by words such as "plan", "expect", "project", "seek", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur, and include, without limitation, statements regarding the ability to raise the funds to finance its ongoing business activities including the acquisition of mineral projects and the exploration and development of its projects. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and other factors may include, but are not limited to, the results of exploration activities; the ability of the Company to complete further exploration activities; timing and availability of external financing on acceptable terms and those risk factors outlined in the Company's Management Discussion and Analysis as filed on SEDAR. The Company does not undertake to update any forward-looking information except in accordance with applicable securities laws.


[1] Measured and Indicated MRE of 3.3 Moz with average grade 1.37g/t Au using a 0.5g/t cut-off grade ("Dugbe Gold Project, Liberia NI 43-101 Technical Report, Effective Date 17 November 2021," prepared by SRK Consulting (UK) Limited

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/225353

FAQ

What were the key results from Pasofino Gold's drilling at Bukon Jedeh?

Pasofino Gold (EFRGF) reported significant gold mineralized intervals, including 21.3m with 0.9 g/t Au in BKDD001, 4.0m with 2.1 g/t Au in BKDD004, and 2.5m with 2.2 g/t Au in BKDD011.

Where will Pasofino Gold focus its future exploration efforts?

Pasofino Gold (EFRGF) plans to focus future exploration on the western area of Bukon, particularly around BKDD001, and the DSZ target, which is 4 km from the Tuzon deposit.

What is the significance of the DSZ target for Pasofino Gold (EFRGF)?

The DSZ target, located 4 km from the Tuzon deposit, yielded 36m at 0.6 g/t Au in a previous channel cut. It represents a high-priority drilling prospect with potential to expand existing resources at Tuzon.

How does the geology at Bukon Jedeh compare to the Tuzon deposit?

The gold at Bukon Jedeh is hosted by pyroxene-bearing gneiss with minor sulphides, very similar to the host-rock at the nearby 2.3 Moz Tuzon deposit. The geological structure controlling mineralization is also believed to be similar.

PASOFINO GOLD LTD

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