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Burey Gold Limited (BYR)
is a publicly listed company on the Australian Securities Exchange (ASX).


{{businessSummary}}

General Overview

About Burey Gold Limited

Burey Gold Limited (ASX: BYR) is an ASX-listed explorer with its key asset, the Giro Gold Project, located within the significant under-explored Kilo-Moto greenstone belt in the north-east Democratic Republic of Congo (DRC) in Central Africa.

The Moto greenstone belt hosts Randgold and AngloGold Ashanti’s 17Moz Kibali Project, 30km east of Giro. Kibali produced 642,720 ounces of gold in 2015 and is targeting production of 610,000 ounces for 2016, confirming a favourable mining environment in the region. Randgold recently entered into a JV agreement on the Moku tenements between Giro and Kibali as it aims to acquire all prospective ground in the area.

Giro comprises two exploitation permits covering 610km2. The area was mined under Belgian rule and more recently by artisanal means.

Burey has defined a >200ppb gold-in-soil anomaly over 2,000m x 900m at the Kebigada anomaly, its most advanced prospect. Best results from drilling include:

  • 97m at 2.56g/t Au from surface
  • 47m at 4.13g/t Au from 25m, including 29m at 5.93g/t Au from 25m
  • 33m at 1.59g/t Au from surface and 56m at 2.39g/t Au from 64m including 9m at 5.20g/t Au from 66m
  • 23.5m at 3.07g/t Au from 0.5m, including 13.6m at 4.73g/t Au from 4.4m  
  • 21.0m at 6.06g/t Au from 0m and 69.6m at 1.67g/t Au including 39m at 2.3g/t Au from 94.9m

Gold mineralisation related to the Kebigada Shear Zone has been defined over 1,500m strike length. Burey’s drilling results show that gold mineralisation is open in all directions from surface down to depths exceeding 250m vertical metres.

The Company’s Douze Match target area produced exceptional gold results in June, with the first 10 RC drill holes being reported with best results including:

  • 2m at 196g/t Au from 12m and 15m at 255.6g/t Au from 15m, including 3m at 1260g/t Au from 15m, including 3m at 14.3g/t Au from 21m
  • 33m at 6.1g/t Au from surface including 3m at 34.7g/t Au in laterite
  • 12m at 21.2g/t Au from 3m
  • 7m at 5.2g/t Au from 30m in granites in contact shear zone

Detailed sampling and mapping across the project is underway, with further drilling to follow up these results expected to commence in coming months.


Projects

Giro Gold Project

Burey Gold holds a 55% interest in two exploitation permits which cover 610km2 of prospective ground in the Oriental Province, north-east Democratic Republic of Congo.

The tenements are less than 30km west of Randgold Resources / AngloGold Ashanti’s multi-million ounce Kibali Gold deposits as shown in Figure 1. Kibali produced 642,720 ounces of gold in 2015 and is targeting production of 610,000 ounces for 2016, confirming a favourable mining environment in the region.

giro_project_may_2016.jpg

Both the Kibali and Giro projects occur within the Kilo-Moto Belt, one of the world’s principal greenstone belts which also host AngloGold Ashanti’s deposits to the east and Loncore and Kilogold deposits to the south. Approximately 50Moz of gold has been discovered in the Tanzanian portion of the belt since 1994.

The Giro Project area is underlain by highly prospective volcano-sedimentary lithologies in a similar structural and lithological setting as the Kibali gold deposits. Both primary and alluvial gold was mined from two main areas, the Giro and Tora areas, during Belgian rule and today these areas are mined extensively by artisanal miners.

At least three additional extensive alluvial workings occur within the project area, confirming the potential for new discovery of primary mineralised targets.

The Giro Project area had not been explored for more than 50 years (since the Belgian colonial era) with no modern exploration up to December 2013 when Panex conducted a 57-hole 2,888m reverse circulation (RC) drilling programme at the Giro Prospect. Drilling confirmed mineralisation occurs within two separate structures, the Kebigada Shear Zone and the Giro Vein.

To date Burey’s exploration focus has been on drilling, geochemical sampling and geophysics on priority target areas on both tenements. Diamond drilling programmes were completed at Kebigada (1,221m), Giro vein (310m), Peteku (100m), Adoku (579m) and Mangote (633m) and all results have been reported. Soil sampling defined a >200ppb gold-in-soil anomaly over 2,000m x 900m at the Kebigada anomaly, Burey’s most advanced prospect, where best results from Burey’s RC and diamond drilling programme include:

  • 97m at 2.56g/t Au from surface
  • 47m at 4.13g/t Au from 25m, including 29m at 5.93g/t Au from 25m 
  • 33m at 1.59g/t Au from surface and 56m at 2.39g/t Au from 64m including 9m at 5.20g/t Au from 66m
  • 23.5m at 3.07g/t Au from 0.5m, including 13.6m at 4.73g/t Au from 4.4m 
  • 21.0m at 6.06g/t Au from 0m and 69.6m at 1.67g/t Au including 39m at 2.3g/t Au from 94.9m

Gold mineralisation related to the Kebigada Shear Zone has been defined over 1,500m strike length and is interpreted to have two distinct orientations, namely a strong NNW orientation as observed in the IP gradient array survey and a W-E to WSW-EWE orientation interpreted from measurements of pyrite and chalcopyrite laminae in the drill core and associated gold grade. Most holes were drilled towards the NE as shown in Figure 2, oblique to the high grade W-E orientation.

giro_drill_holes_may_2016.jpg

Drilling at the Kebigada Shear Zone confirmed significant mineralisation from surface down to 150m below surface (Figure 3). Results from the recently completed campaign clearly show that gold mineralisation is open in all directions from surface down to depths exceeding 250m vertical metres.

giro_long_section_may_2016.jpg

The Company has also reported highly significant mineralisation from first pass drilling at its Douze Match target area at Giro (Figure 4). The shallow RC drilling programme was designed to test approximately 1km of the soil anomaly which extends over 4km x 2.5km at Douze Match.

Best results from the first 10 RC drill holes included:

  • 2m at 196g/t Au from 12m and 15m at 255.6g/t Au from 15m, including 3m at 1260g/t Au from 15m, including 3m at 14.3g/t Au from 21m
  • 33m at 6.1g/t Au from surface including 3m at 34.7g/t Au in laterite
  • 12m at 21.2g/t Au from 3m
  • 7m at 5.2g/t Au from 30m in granites in contact shear zone

Further drilling will continue to define the extent of the mineralisation and also target greater depths down to 100m.

figure4.jpg

Burey plans to complete further sampling and mapping across Giro and will commence further drilling to follow up results at Douze Match, Adoku and Mangote in mid-2016.



Contact Info

Burey Gold Limited

Level 2, Suite 9
389 Oxford Street
Mount Hawthorn, WA
AU Australia, 6016

Phone: +61 8 9381 2299
Fax: +61 8 9380 6761
Email: peter@nwrcommunications.com.au
Website: http://www.bureygold.com

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Burey Gold Limited Google Map
Burey Gold Limited Google Map

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Phone: +61 8 9389 8033
Fax: +61 8 9262 3723
Email: admin@advancedshare.com.au
Website: http://www.advancedshare.com.au/

110 Stirling Highway
Nedlands, WA
AU Australia, 6009


Important Information

The General Overview, Services, Products and Projects information for this profile was last edited on 19 Aug 2016.

All Financial Data is provided "as is" for informational purposes only, not intended for trading purposes or advice. Neither Share Prices nor any independent data provider is liable for any informational errors, omissions or other defects, incompleteness, or delays, or for any actions taken in reliance on Financial Data.

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