Firefinch has published the mineral resource and ore reserve statement for its Morila Gold Project in Mali for the year ending 31st December 2021.

The project had total mineral resources of 2.5 million ounces of contained gold, including:

  • Indicated resources of 27.4 million tonnes at 1.49g/t gold for 1.3 million ounces and;
  • Inferred resources of 23.2 million tonnes at 1.56g/t gold for 1.2 million ounces.

Morila also had total ore reserves of 1.1 million ounces of contained gold, and probable ore reserves of 23.8 million tonnes at 1.40g/t.

Firefinch (ASX:FFS) says the mineral resource estimate for Morila will be updated in Q2 off the back of its ongoing exploration drilling – which will lead to new ore reserves and a re-optimisation of the life of mine plan for the project.


Finkola permit just granted

The company has just secured a mining licence for its Finkola permit, which will pave the way for mining to begin at the Beledjo-Koting deposit, the fourth satellite ore source for Firefinch to feed the Morila mill.

Beledjo-Koting contains an ore reserve of 20,000oz including 0.63Mt at 0.98g/t gold, with inferred and indicated resources of 0.93Mt at 1.01g/t for 30,000oz of gold.

But FFX has also identified mineralisation at the K2 and K3 prospects in recent drilling at Finkola, the most advanced prospects after Beledjo.

Drilling is planned at both in 2022 to define mineral resources and potentially add them to the future mill feed at Morila, with other prospects to be advanced with surface geochemistry and aircore drilling.


Firefinch share price today:


This article was developed in collaboration with Firefinch, a Stockhead advertiser at the time of publishing.

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