Megado trenching uncovers gold over 2km strike at Babicho
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Megado’s belief in the prospectivity of its Babicho project in Ethiopia has been supported by trenching consistently uncovering wide zones of gold mineralisation.
Notably, the results of up to 11.1m grading 3.21 grams per tonne (g/t) gold within a 30m zone at 1.27g/t gold were intersected over 1.5km of strike.
Along with historical trenching results, Megado Gold (ASX:MEG) noted that quartz veining and shear zones with gold mineralisation have now been defined over 2km of continuous strike that remains open.
Managing director Michael Gumbley says the first trench results at the project are “extremely compelling” as they support the company’s thesis that it has the potential to host significant gold deposits.
“These results, coupled with those returned historically, confirm the existence of high-grade mineralisation across an impressive strike length of over 2km,” he added.
“This gives us the confidence to accelerate exploration at Babicho. Megado will move quickly to initiate a follow-up 5,000m trenching program followed by further drilling.
“We are extremely enthusiastic about progress made at Babicho and eager to expand activities there in 2021.”
The trenching was carried out over a 2km long gold-in-soil anomaly that was delineated from historical soil sampling at Babicho that coincides with the major north-south trending Silingo shear zone that hosts the Lega Dembi and Sakaro gold deposits (3Moz).
Megado’s preliminary fieldwork on the soil anomaly confirmed the project’s potential to host significant gold mineralisation and an initial 10-trench program was devised to test the western margin of the shear zone.
This consistently intersected wide zones of quartz veining upwards of 10m to 20m with the company noting that a zone of mineralisation in the top performing trench dips moderately to the east and apparently plunging to the north.
Assays are also pending from the company’s initial drilling program.
It plans to carry out a further 10-trench program totalling 5,000m this month targeting the areas north and south of the top trench result to clarify the extent of mineralisation in this zone.
This is also expected to support the company’s thesis that Babicho has the potential to host gold deposits of significant scale.
Future programs in and around the Silingo shear zone will target the soil anomalies to the south and southeast and its eastern margin, as well as all of the Biloya Shear.
Trenching will be followed shortly thereafter with a second drilling campaign intended to delineate mineralisation extents.
This article was developed in collaboration with Megado Gold, 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.