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Amani suit up its ore body

3 June 2022
ASX: ANL
Jack Baker

Amani Gold has struck a series of high-grade gold zones during drilling exploration of the Kebigada deposit, part of the company’s flagship Giro project in the Democratic Republic of the Congo.

Gold extended its upward momentum into June, briefly testing the US$1,870 region for the first time in more than three weeks on a weaker dollar and safe-haven demand stemming from persistent geopolitical tensions and lingering concerns about slowing global growth and inflation.

The latest intensive exploration of the 4.1 million ounces maiden JORC resource returned 59.99 metres at 2.35 grammes per tonne of gold at shallow depth.

The company said it is encouraging to have further evidence of an extensive shallow high-grade zone.

“The confirmation of this mineralization can improve the overall feasibility of the project,” chief executive Conrad Karageorge said.

“Also encouraged by high-grade sections within GRDD038 which improved on the grade of the 2020 resource model and intersected substantial mineralisation not contained within the existing resource.”

Meanwhile, the explorer will complete the remaining four diamond drill holes planned to test the extent of Kebigada’s continuity down dip and along strike.

Significant intercepts:

GRDD039: 59.99m @ 2.35g/t Au

GRDD038: 60m @ 1.28g/t Au

GRDD037: 2.70m @ 2.16g/t Au

ANL’s Australian Stock Exchange-listed price was trading at 0.1c today (11.43 am UTC+ 8 hours).

COMPANY OVERVIEW

Amani Gold Limited (ASX:ANL) is targeting exploration at its flagship project, the Giro Gold Project, located within the significant, yet under-explored Moto greenstone belt in the Democratic Republic of Congo (DRC). The Moto greenstone belt is also home to Randgold and AngloGold Ashanti’s 16Moz Kibali Project, located just 35km east of the Giro Project, where production commenced in 2013. In a move to acquire all prospective ground in the area and confirming the favourable mining environment in the region, Randgold holds all tenements between Kibali and Giro. Amani has outlined a gold resource at Kebigada within the Giro Gold Project of 45.62Mt @ 1.46g/t Au for 2.14Moz gold at a cut-off grade of 0.9g/t Au (see ASX Announcement 23 August 2017). In late 2018 Amani announced the Douze Match Maiden Indicated and Inferred Mineral Resource of 8.1Mt @ 1.2g/t Au, for 320Koz gold (0.5g/t Au cut-off grade) within the Giro Gold Project (see ASX announcement 10 December 2018). The Giro Gold Project global resource now exceeds 3Moz gold; with the combined Indicated and Inferred Mineral Resource estimates for the Kebigada and Douze Match deposits at 81.77Mt @ 1.2g/t Au, for 3.14Moz Au. The combined resource is based on a 0.6g/t Au cut-off grade.

COMPANY INFORMATION

ASX: ANL

Website

https://www.amanigold.com/
https://www2.asx.com.au/markets/company/anl

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