SearchGold Cuts Additional Mineralization and Defines High Grade Structure Over 400 M Strike Length on Mandiana, Guinea
MONTREAL, QUEBEC--(CCNMatthews - May 1, 2007) - SearchGold Resources Inc. (TSX VENTURE:RSG)(FSE:S1O) is pleased to provide additional assay results of the recently completed drilling campaign on its 100% Mandiana Gold Property located in Guinea, West Africa.
The 4,300 m drilling program consisted in 54 holes and all the results from the 40 holes drilled on the N'Diambaye prospect have been received. Significant highlights include :
1. The N'Diambaye prospect hosts a north-south trending mineralized structure recognized over 400 m with significant high grade intersections :
NDI-02 : 12.23 g/t Au over 22 m from 50 to 72 m towards northern end of the structure.
NDI-39 : 9.63 g/t Au over 6 m from 33 to 39 m defining the southern end of the structure.
-The intersection of hole NDI-02 was previously announced on February 14th 2007. The increase in gold content comes from the integration of fire assay results on pulp tailings. The other mineralized intercepts defining this structure are presented in this press release.
2. Isolated high grade intercepts as well as haloes of lower grade mineralization have also been intercepted outside the north-south structure, such as :
NDI-15 : 54.11 g/t Au over 1 m from 5 to 6 m.
NDI-36 : 0.34 g/t Au over 10 m from 6 to 16 m.
3. The coarse gold fraction represents a significant portion of the mineralization and was not recovered by bottle roll cyanidation. Fire assays on pulp tailings samples yielding +2 g/t Au in cyanidation significantly enhance the gold grades obtained in the drilling program.
Philippe Giaro, President and CEO, observed that "We can now confirm a significant discovery on N'Diambaye's main termite mound anomaly. The grades and intervals returned from our recent drilling suggest a high-grade context as opposed to a lower grade bulk-tonnage style target. No outcrop has so far been observed directly above the gold bearing structure and the high-grade model has to be further confirmed with detailed surface work and additional drilling. We know that the property hosts several areas of stockwork-style mineralization and to have high grade-type mineralization recognized on Mandiana really is an added bonus."
Mineralized intersections with a grade above 1 g/t Au as well as all + 0.1 g/t Au haloes of a minimum width of 3 m are presented in the following table.(See link)
The holes are inclined at 50 degrees; drilled with an azimuth of 270 degrees at to average depth of 80 m. The holes were drilled on seven parallel east-west sections covering a 400 m strike length of the main anomaly.
N'Diambaye North-South zone
The N'Diambaye prospect hosts a north-south trending mineralized structure containing high grade intersections (see attached figure or visit : http://www.searchgold.ca)
. A preliminary interpretation suggests that this mineralized structure, recognized so far over 400 m, has been intersected on all seven drilling sections. These are, from north to south :
Section 1189600 - hole NDI-33
- 4.50 g/t Au over 1 m from 43 to 44 m
Section 1189500 - hole NDI-28
- 1.38 g/t Au over 1 m from 37 to 38 m
Section 1189450 - hole NDI-02
- 12.23 g/t Au over 22 m from 50 to 72 m
Section 1189400 - hole NDI-10
- 5.29 g/t Au over 1 m from 9 to 10 m- 1.94 g/t Au over 1 m from 63 to 64 m
Section 1189350 - hole NDI-17
- 1.01 g/t Au over 1 m from 11 to 12 m- 0.23 g/t Au over 5 m from 26 to 31 m- 1.39 g/t Au over 1 m from 46 to 47 m
Section 1189300 - hole NDI-24
- 2.40 g/t Au over 1 m from 15 to 16 m- 1.08 g/t Au over 3 m from 23 to 26 m- 1.01 g/t Au over 3 m from 56 to 59 m
Section 1189200 - hole NDI-39
- 9.63 g/t Au over 6 m from 33 to 39 m
Three additional early stage observations appear significant.
1. An east-north-east structure appears to be cross-cutting the N'Diambaye north-south zone. This particular structural direction has been measured during surface mapping and its significance on the shape and grade of the mineralization has yet to be recognized.
2. The other mineralized intercepts obtained in this drill program (such as the ones in holes NDI-15, NDI-16 and NDI-05, NDI-36) might represent zones of mineralization parallel to the N'Diambaye north-south zone.
3. Very favorable lithologies have been intersected in the bottom part of some of the drill holes such as a sulfide bearing schist over 20 m in hole NDI-24 from 60 to 80 m.
These three observations must be integrated in a comprehensive model for this new discovery. Detailed surface work and additional drilling will be part of the necessary follow-up to be executed by Mr. Moussa Keita, Ph.D., P. Geol., the new Project Geologist for the Mandiana Property. Mr. Keita will also benefit from the on-going technical support of Mr. Pierre Lalande, P. Geol. and former IAMGold Chief Geologist.
About the drilling program
Four distinct targets were tested with this 4,300 m drilling program which consisted of 54 holes. Two of the targets are gold termite mound anomalies (N'Diambaye and Karfakolo). Two additional targets were identified during field reconnaissance and were considered sufficiently mineralized and geologically significant to warrant drilling. The present release concerns only the N'Diambaye gold termite mound anomaly and additional drill results are pending.