Arrow Minerals hits two-year high as drilling starts at Dassa gold discovery

Arrow Minerals hits two-year high as drilling starts at Dassa gold discoveryArrow Minerals Ltd - Arrow Minerals shares up as much as 190% following start of Dassa gold discovery drilling
Auger sampling is ongoing to the south of the Dassa discovery in Burkina Faso

Arrow Minerals Ltd (ASX:AMD) shares have been up as much as 190% to a new 24-month high of 2.3 cents following the start of a 3,500-metre reverse circulation drilling program at its Dassa gold discovery in Burkina Faso.

The program of up to 35 holes is designed to expand known gold mineralisation at Dassa down dip and along strike of the discovery that hosts intersections including 13 metres at 3.8 g/t gold, 3 metres at 13.1 g/t and 13 metres at 2.4 g/t.

Auger sampling is also being undertaken simultaneously to test the continuation of mineralisation for another 3 kilometres to the southwest.

Aiming to define additional gold potential

Managing director Howard Golden said: “This drilling at Dassa has the potential to extend the known gold mineralisation very significantly.

“Our recent capital raising and new health and safety plan are now in place and have allowed us to undertake this round of work with confidence.

“The RC drilling, combined with the auger sampling south of the Dassa gold discovery, will allow the confirmation of 3 kilometres of mineralisation and aims to define additional gold potential to the southwest which if successful will be the subject of further drilling later in the year.

“We are looking toward the results of the drilling with great anticipation.”

Divole West drilling

Drilling at the Dassa project earlier in the year discovered continuous gold mineralisation associated with shear zones in sediments adjacent to an underlying shallow-dipping granitoid intrusion.

This understanding has been used to design the drilling program with drilling having started on July 8 and set to complete at the end of the month.

In addition, about 1,200 metres of shallow auger geochemical drilling are underway that could double the strike length of the known discovery at Dassa.

This auger work is being performed with the same methodology as the auger sampling that was used to target the Dassa discovery drilling.

Those early auger results included 6.1 g/t, 4.4 g/t and 3.6 g/t gold.