Burey Gold Ltd drills for high-grade prize in big gold belt in DRC


Burey Gold Ltd (ASX:BYR) is progressing well on the reverse circulation drill program at the underexplored Giro gold project, in the world class Kilo-Moto Gold Belt, Democratic Republic of Congo.

Burey is now gearing up for a cost effective shallow RC drilling program at the Douze Match and Mangote anomalies in the Giro project.

Burey had reported the results of an RC drilling program across 5 prospects within the Giro project in April.

All the holes intersected mineralisation including best results of 23.5 metres at 3.07 g/t gold from 0.5 metres and 21 metres at 6.06 g/t gold from surface.

The company has identified multiple gold targets and structures for continuing evaluation across the 610 square kilometres of tenements within Kilo-Moto Gold Belt.

Kilo-Moto Belt is an under-explored greenstone belt which hosts Randgold Resources’ (LON:RRS) 17 million ounce Kibali group of deposits, lying within 30 kilometres 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.

The company had raised $1.37 from a private placement of securities during the March 2016 quarter and is planning to complete another $3.35 million private placement by this month.

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