Firefinch inundated with gold hits, fattens up ‘Morila the Gorilla’

Firefinch has struck upon more high-grade gold from drilling at the Morila super pit in West Africa.

 Results include:

• 4 metres at 13.6 g/t from 315.2 metres;
• 8 metres at 3.02 g/t from 279.4 metres, including 6.3 metres at 6.95 g/t; and
• 5 metres at 5.99 g/t from 168.8 metres, including 2.7 metres at 15.9 g/t.

But the standout is drillhole MRD0018, which could represent a new zone of mineralisation well outside the main pit and separated from the lodes previously mined, and intersected:

• 15 metres at 7.61 g/t from 263 metres, including 9 metres at 11.1 g/t; and
• 8 metres at 23.7 g/t from 236.4 metres, including 0.8 metres at 82.0 g/t.

Resource update underway

The current open pittable resource at Morila is 1.86 million ounces of gold comprising 38.6 million tonnes at 1.50 g/t gold (21.2 million tonnes at 1.60g/t gold in the indicated category, and 17.5 million tonnes at 1.37g/t gold in the inferred category).

And Firefinch (ASX:FFX) MD Dr Michael Anderson said these latest results confirm the potential to grow that resource right out.

“We expect to update the resource and the Stage 1 mine plan for the Morila Super Pit in the coming months,” he said.

“Our team is continually updating the geological model to allow follow up drilling to be rapidly implemented utilising the three diamond core drill rigs currently operating at Morila.”

Looking forwards

The mineral resource update will enable the Stage 1 pit design and 2022-2023 mining schedule to be refined.

Ongoing drilling will test extensions to high grade zones recently intersected on both the western and eastern sides of the mine.

And the company is also investigating the potential for underground mining at the project

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This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.