The Adyabo gold project in Northern Ethiopia continues to yield strong gold hits for Tigray Resources.
Author: Kip Keen
Tuesday , 11 Mar 2014
HALIFAX, NS (MINEWEB) –
Tigray Resources (TSX-V:TIG) drilled the Da Tambuk target in Northern Ethiopia for the first time and hit as much as 12 metres @ 17.34 g/t Au and 0.32 percent copper. Tigray – in the midst of a merger with controling shareholder East Africa Minerals (TSX-V: EAM) – described the discovery in a press release Tuesday. It drilled four drillholes testing 200 metres of strike. In each Tigray hit gold mineralization with intercepts including: 10 metres @ 3.96 g/t Au and 0.26 percent copper, 20 metres @ 3.51 g/t Au and 0.1 percent copper and 3 metres 4.2 g/t Au and 0.02 percent copper. All were within 100 metres of surface and Tigray estimated true width of mineralization between 65 to 85 percent of drill widths. (Plan view of drill results below)
Notably the grades and widths are very similar to Tigray’s Mato Bula gold zone four kilometres to the southwest. Speaking with Mineweb Tuesday Tigray President and CEO Andrew Lee Smith (who formerly headed up Canaco, from which Tigray was sput out) noted Tigray’s hit rate was somewhere around 90 percent at Adyabo. Many of Tigray’s hits at Mato Bula and now Da Tambuk have been in the 5 to 10-metre range with grades often around 4-5 g/t gold. In several intercepts widths and grades spike considerably. Drilling has so far been shallow and Tigray has said mineralization is VMS-related within a north-northeast trending shear zone with active artesanal mining. “A lot of it looks like oxide,” Smith said.
For now Tigray does not have enough cash for more drilling. That could change soon given the ongoing merger with East Asia Minerals, however. It brings about $20 million to the table, which is the main impetus for the merger from Tigray’s point of view. The post-merger company is to focus on Tigray’s Northern Ethiopia projects that include Adyabo and the Harvest project where Tigray has defined copper-gold-silver-zinc resources in a VMS deposit called Terakimti. If the merger gets shareholder support and closes before the rainy season in Ethiopia (starting in July) then Tigray might do some more drilling in Northern Ethiopia at Adyabo and Harvest, Smith said. If not further exploration would wait until later in the year. Power lines and a new highway cut through the project.