Sambarabougou - The International Resource Journal

BASSARI RESOURCES
www.bassari.com.au

2 MINING Bassari Resources
Bassari R
seeks out multi-m
gold deposits in S

APRIL 2011 The International Resource Journal
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MINING
2
esources
illion ounce
enegal

4 MINING Bassari Resources
Stretching from Ghana to Senegal, the
Birimian greenstone belt is heralded as
one of the world’s most prolific gold
mining areas and is already home to
several multi-million ounce deposits—
but there is room for more if you know
where and how to look.
With three permits stretching over 1,000
square kilometres located centrally to the Keniba
Inlier, forming part of the Birimian Gold Belt,
and close to Senegal’s southeast border with
Mali, Bassari Resources Limited (ASX: BSR) of
Melbourne, is well on its way to uncovering the
area’s next big deposit.
“It’s the same Birimian greenstones that
there are throughout Africa in Ghana, Burkina
Faso, Cote D’Ivoire—all of the parts where multimillion
ounce deposits have been discovered,”
Jozsef Patarica, Managing Director and CEO, tells
IRJ, noting Loulo (12 million ounces), Sadiola (14
million ounces), Massawa (3.5 million ounces)
and Sabodala (3.5 million ounces) nearby.
“There are multiple opportunities for success.
We have some significant neighbours here
and they’ve found multi-million ounce deposits.”
Closer inspection of Bassari’s three deposits
in the Tambacounda region—Moura, Sambarabougou,
and Bounsankoba—reveals that the multiple
opportunities Patarica speaks of are becoming
increasingly more understood and developed.
Sambarabougou
As the most advanced of Bassari’s permits, a
lot of the company’s activity today focuses on
Sambarabougou.
“What attracted us to the region is that a lot of
the gold deposits are structurally controlled there,
and when you look at our particular permits they are
actually northeast trending and for a good reason.
All of the dominant structures in that part of the
Birimian are northeast trending too,” Patarica says.
“Our most advanced prospect is
at the Makabingui Project and
we’re resource drilling there at the
moment. We’re aiming to have our
maiden hard rock resource estimate
to make public in April.”
Throughout the past few months, and as recently
as March, Bassari has announced some
very good RC and diamond drilling results for Makabingui,
detailing some significant grades returned.
Resource drilling is under way on a couple of zones
today and the company also recognizes the project’s
potential for additional zones.
“There are a number of other prospects on

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6 MINING Bassari Resources
Sambarabougou that we’ve been looking at too—
one called Lafia and a 30 square kilometre exploitation
permit that sits centrally in that tenement
and a small scale alluvial project,” Patarica adds.
On the Douta Alluvial Gold Project, which was
inaugurated in December last year by the Senegal
Minister of Mines and Geology Abdoulaye
Balde, Bassari has spent the last quarter ramping
up its production levels.
“This quarter we’ll look to bring in our first
revenue from Douta by shipping gold later this
month,” Patarica explains.
“The growth strategy for the company is really
through exploration success and finding hard rock
gold deposits—Douta provides us with some operating
experience in Senegal and also helps to support
exploration by providing infrastructure and revenue.”
And there is a lot more exploration to support in
Bassari’s other permits—Bounsankoba and Moura.
Bounsankoba, Moura and everywhere
in between
Located northeast and adjoining Sambarabougou,
the Moura permit houses five prospects. An
extensive geological geochemical program has
taken place, and Bassari has advanced this to
trenching on some prospects which has confirmed
gold mineralization in bedrock.

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“The next stage for those prospects is advancing
to a drilling program, both with RAB and
RC drilling, and we plan to do that in the coming
field season as part of our exploration program,”
Patarica says.
On the Bounsankoba permit, adjoining the
Sambarabougou permit, Bassari has more prospects
including Sekhoto in the southern corner
(close to Randgold’s 3.5 million ounce Massawa
gold discovery), which is the most advanced.
“Through rock chip sampling, geochemistry
and trenching, we’ve identified an 800-plus
metre long gold anomaly where we’ve carried out
RAB drilling and returned some encouraging results
that have compelled us to advance that to
an RC drilling program, which we’ll do during the
field season this year,” Patarica explains.
“We also have what we call the Lafia Gold
Corridor, a 40 kilometre shear zone we’ve identified
from geochemical work. It extends from Sekhoto
in the Bounsankoba permit all the way up to
Makabingui in the Sambarabougou permit.”
The Lafia Gold Corridor is a long northeast
trending shear zone and home to a lot of the
prospects within Bassari’s permits. The company
previously had some positive sampling results
and has completed some RC drilling, believing
that those northeast trending structures extend
to Makabingui, where resource drilling continues.

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On track to multi-million ounce gold deposits
Patarica says that Bassari’s pursuit of multimillion
ounce gold deposits today is being guided
by the work going on at Makabingui.
“We believe we’re on that path with
Makabingui—and given we have resource drilling
there at the moment and eight other prospects
that we can advance today, we will eventually grow
our resource base through the ongoing resource
drilling and converting our other prospects to
resource projects,” he says.
“We’ve mainly focused on our western corridor,
but we also have the eastern corridor that is
very much under explored.”
With operational mines close to Bassari’s
permit areas and the geology that houses them
extending through the company’s permits so
far as into Mali where other mines are active,
southeastern Senegal looks to be every inch
the prospective spot that Bassari has hoped.
The company is in a prime area of the Birimian
greenstone belt with an enviable landholding. Its
prospects are ever-edging farther down the development
track and proving that the company’s
aim to uncover multi-million ounce gold deposits
draws closer by the day.
www.bassari.com.au

AS SEEN IN THE APRIL 2011 ISSUE
OF THE INTERNATIONAL RESOURCE JOURNAL