Arrow Minerals on track to complete acquisition of gold projects in Burkina Faso
Drilling assays from Burkina Faso expected in early September 2019
Arrow Minerals Ltd (ASX:AMD) is continuing to progress the acquisition of Boromo Gold Limited with valid acceptances received from 97% of Boromo shareholders.
Arrow expects to reach 100% acceptance prior to the shareholder meeting on Thursday, August 15 2019.
READ: Arrow Minerals shares rise on acquiring drill-ready gold projects in Burkina Faso
Boromo owns six exploration projects in Burkina Faso, West Africa, with drill targets already identified at multiple projects with the potential for significant gold discoveries.
A reverse circulation (RC) drilling program has been completed at Boromo’s Divole East Project, with 24 holes drilled for 2,385 metres (average depth 99 metres).
The drill holes were designed to test the continuity of previously identified high-grade Divole Main prospect and the newly identified Divole East fold structure.
RC drill collar locations at Divole East Project
The drilling samples have been sent to Ouagadougou for assaying and Arrow expects to receive the results in early September 2019.
Arrow managing director Steven Michael recently said: “The acquisition of Boromo gives Arrow and its shareholders immediate access to a portfolio of gold exploration projects in one of the world’s fastest growing gold producing countries.
“Burkina Faso is now the fourth largest gold producer in Africa and has known gold endowment of over 60 million ounces.”