Goldplat set for phased exploration at Nyieme gold project in Burkina Faso

Goldplat (AIM: GDP) is implementing a phased exploration programme at its Nyieme gold project in Burkina Faso. In an update to investors the company said it plans to begin a Phase I trenching programme in May, with a 1,250m diamond drilling during Phase II scheduled for August.

The phased exploration work is targeting a JORC-compliant resource, and subsequently a third phase of work, based on Phase I & II results, will attempt to further define the economic potential of the project. Goldplat plans to prove up the viability and production potential of the Nyieme project, and to test for further anomalies on the property.

"We are highly confident about the potential of  the Nyieme project in  Burkina Faso and have therefore devised an extensive exploration  programme  to  test  both  the  existing  high grade targets, which include  3m @ 17.48 g/t gold as well  as potential new areas of mineralisation”, Goldplat chief executive Demetri Manolis commented.

“The West African region is attracting significant investment due to the recognised prospectivity of Burkina Faso, Ghana and Mali, and we believe through exploration we can significantly improve the value of the Nyieme project".

Goldplat said that the exploration programme is designed to achieve two major objectives. Firstly to extensively trench the geochemical and geophysical anomaly, which extends to the south. Trenching will cover a strike length of 6km, and additional trenching will be conducted on a strong Induced Polarisation (IP) anomaly, which lies parallel and 2.5km to the east of the main anomaly.

Secondly the programme aims to further  explore  the  Nyieme  project, as  previously  drilled  by  Sanu Exploration (BVI) Ltd. 

Sanu conducted a 2,015m 26 hole reverse circulation drilling programme, which intersected 3m at 17.48 grams per tonne (gpt) gold, and three other intersections over 1 metre grading 16.76gpt gold, 4.46gpt gold and 17.83 gpt gold respectively. 

Goldplat said it has designed an 11 hole programme which will test in depth the high grade zones indicated by the Sanu drilling, as well as testing for any strike extensions to the mineralisation. Furthermore, any significant results from the Phase I trenching programme will be followed up by drilling as part of Phase 2.

The total cost of the first two phases of the exploration programme is estimated at US$240,000.

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