Firefinch Limited (ASX: FXX) has announced an initial Mineral Resource Estimate for the remaining mineralisation at three previously mined open pits within the Morila Project in Mali.
A total Indicated and Inferred Mineral Resource Estimate of 2.5 million tonnes at 1.38g/t gold for 113,000 ounces of contained gold at a cut-off grade of 0.5g/t gold, has been delineated at the three satellite deposits – N’Tiola, Viper and Domba.
The combined Measured, Indicated and Inferred Mineral Resources across the Morila Project is now:
39.3 million tonnes at 1.17g/t gold for 1.49 million ounces of contained gold at a cut-off grade of 0.5g/t gold.
Previous production from the satellite pits was approximately 110,000 ounces of gold. The estimated resources for the three pits are:
Viper:
0.81 million tonnes at 1.19 g/t gold for 31,000 ounces of gold.
N’Tiola:
0.85 million tonnes at 1.42 g/t gold for 39,000 ounces of gold.
Domba:
0.77 million tonnes at 1.71 g/t gold for 42,000 ounces of gold.
The satellite deposits are expected to underpin the initial phase of the Company’s plan to return Morila to full production. Drilling rigs are on site to carry out infill and extension drilling at the satellite deposits with the aim of improving the delineation and classification of material currently classified as Inferred as well as testing strike and depth extensions at each deposit.
A new geological model has been created for the main Morila deposit and all historic data validated. A new Mineral Resource Estimate is in progress and will be reported when completed.
Drilling is also being carried out around the Morila site testing stockpiles to determine which of these could provide additional feed to the Morila processing plant. Drilling at the northern margin of the tailings dam has been completed with results to be fed into an updated Mineral Resource for the tailings.