Searchgold Resources Inc

Published : October 23rd, 2009

and Swala to Start Drilling in November 2009 on Arae-Gassel Burkina Faso

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Keywords :   Burkina Faso | Gold |

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OCT 21, 2009 - 09:00 ET
SearchGold and Swala to Start Drilling in November 2009 on Arae-Gassel Burkina Faso


 

MONTREAL, QUEBEC--(Marketwire - Oct. 21, 2009) - SearchGold Resources Inc. (TSX VENTURE:RSG) (FRANKFURT:S1O) is pleased to announce the start up of an important phase of work on the 400 km2 Arae-Gassel Gold Property ("Arae -Gassel") located in northern Burkina Faso, West Africa, which is developed in partnership with Swala Resources plc ("Swala").

The program will focus on the advanced Kerboule-Yalema 5 km target located in the northern extension of Avocet Mining plc's Inata deposit(i) and on a series of high potential earlier stage targets in parallel structures which have never been drilled.

1 - Kerboule-Yalema gold corridor

On Kerboule South, previous RC drilling has highlighted high grade zones (24.48 g/t Au over 4 m and 18.28 g/t Au over 2 m) in a potential open-pit exploitation context as demonstrated by wide mineralized intervals such as 5.20 g/t Au over 38 m and 2.51 g/t Au over 56 m. On Kerboule Main and Kerboule North, recent artisanal work has uncovered high grade quartz veins with surface grades of up to 95.33 g/t Au showing some depth extension as demonstrated by previous RC drilling (10.72 g/t Au over 8 m and 16.00 g/t Au over 4 m).

The fall 2009 work program will target Kerboule South with 750 m of RC drilling as well as some pitting followed by additional metallurgical testing. On Kerboule Main and Kerboule North a series of drill holes will target the high grade structures previously mapped by SearchGold.

2 - High potential early stage targets

Several high potential earlier stage targets have been recognized in what could be parallel structures to the main Kerboule-Yalema gold corridor. On the Gassel-Haissa target a previous chip sample yielded 15.70 g/t Au over 5 m. The fall 2009 work program is aimed at developing these targets and will involve a progressive exploration approach culminating with up to 4,000 m of RAB drilling.

- Regolith mapping to improve the understanding of previous geochemical sampling results followed by compilation of all data to further refine the targets.

- Ground follow-up of high potential targets with selected soil and termite mound geochemical grids as well as outcrop mapping and sampling.

- Geophysical surveys over the top ten prioritized target areas. The work will consist of high-resolution ground magnetic surveys with data-points at 10 metre intervals along 50 m spaced lines.

- Drilling over the top five prioritized target areas following the execution of the work outlined above. The drilling will consist in 50 m deep RAB holes sections overlapping across the targets for a total of up to 4,000 metres of drilling to be defined as a function of the first phase results.

The fall 2009 program is currently on going. The regolith and compilation maps are finalized and the ground follow-up is being initiated. The geophysical team has been mobilized and the drilling contract has been signed.

Philippe Giaro, P. Geo., President and CEO of SearchGold Resources Inc. and Qualified Person for SearchGold, has reviewed and approved the content of this release.

(i)The Arae-Gassel property is directly adjoining on its southern boundary Avocet Mining's Belahouro property, host of the 1.4 million ounce Inata gold deposit (5.2 million tonnes @ 2.3 g/t Au for 378,480 ounces of Measured Resources and 19.8 million tonnes @ 1.6 g/t Au for 1,018,450 ounces of Indicated Resources).

About SearchGold Resources Inc.

SearchGold Resources is a Canadian-based mining company primarily focussed on gold deposits in Africa. Shares of SearchGold Resources Inc. are listed for trading on the TSX Venture Exchange as "RSG"; and the Frankfurt Stock Exchange as "S1O".

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. 

FOR FURTHER INFORMATION PLEASE CONTACT:


SearchGold Resources Inc.
Philippe Giaro
President & CEO
32-473-52-30-29
phgiaro@skynet.be
http://www.searchgold.ca

or

SearchGold Resources Inc.
Denis Tremblay
Vice-President
1-514-866-4224
info@searchgold.ca

 

 

 

 

 

 

 

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Searchgold Resources Inc

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CODE : RSG.V
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Searchgold is a gold exploration company based in Canada.

Searchgold holds various exploration projects in Gabon.

Its main exploration properties are MANDIANA in Guinea, BOOUÉ - MIMONGO and BAKOUDOU - MAGNIMA in Gabon and DOU - TAOUREMBA, ZITENGA II, GUEGUERE and ARAE-GASSEL in Burkina Faso.

Searchgold is listed in Canada. Its market capitalisation is CA$ 1.6 millions as of today (US$ 1.4 millions, € 1.1 millions).

Its stock quote reached its lowest recent point on December 24, 2008 at CA$ 0.01, and its highest recent level on March 19, 2010 at CA$ 0.72.

Searchgold has 32 835 000 shares outstanding.

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Financings of Searchgold Resources Inc
9/20/2012. Announces Private Placement
Project news of Searchgold Resources Inc
6/9/2011(Gueguere)Provides Update on Gueguere Following Indigo's Drill Interce...
3/29/2010(Arae-gassel)Hits Up to 0.54 G/T Au Over 25 M in AC Drilling of New Explo...
3/18/2010(Arae-gassel)Hits Up to 1.69 g/t Au Over 50 m in Kerboule South RC Drilli...
12/22/2009(Arae-gassel)Targets Large Scale Resource and Starts Drilling on Arae-Gas...
10/23/2009(Arae-gassel)and Swala to Start Drilling in November 2009 on Arae-Gassel ...
5/28/2009(Mandiana)Diamond Production and Sales
5/19/2009(Gueguere)Options Gueguere Property South of Poura Mine in Burkina Fas...
8/13/2008(Bakoudou - Magnima)Reports an Open Pit Gold Reserve of 150,000 Ounces of Gold ...
2/14/2008(Bakoudou - Magnima) INTERSECTS 16.43 G/T AU OVER 4 M AND PROVIDES DRILLING UPDA...
Corporate news of Searchgold Resources Inc
10/29/2012. Announces Decision of its Joint Venture Partner to Not Pro...
7/13/2011Announces Board and Management Changes
6/23/2011Provides Update on Swala and Burkina Faso
6/22/2011Reminds Shareholders About its Annual General Meeting of Jun...
5/19/2011Sells Remaining 27% Interest in Bakoudou-Magnima to Managem
4/26/2011Provides Update on Stellar Diamonds plc, Strategic Focus on ...
3/24/2011Provides an Update on its Burkina Faso Activities
7/7/2010Note Reference to Swala
6/23/2010Will Not Consolidate its Shares
6/15/2010Recommends a Vote for The Share Consolidation to Its Shareho...
6/1/2010Proposes a Share Consolidation to its Shareholders
11/3/2009Proposed Merger Between Stellar Diamonds and West African Di...
9/18/2009Completes a $372,000 Financing
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