A gold mining firm, Simba Gold Corp, has announced initial drill results from the Miyove gold project, which is owned by Rogi Mining Limited, that the Company has an option to acquire. The Miyove gold project is located in northern Rwanda and comprises 2,937 hectares over the largest historic gold-producing areas in Rwanda.
Highlights of the drill program to date include 24.69 metres averaging 0.61 grams per tonne (g/t) gold, including 7.54 metres grading 1.12 g/t gold in hole MY-11-02 and 1.21 g/t gold over 5.58 metres, including 2.15 g/t gold over 2.57 metres in hole MY-11-05.
In March 2010, the Company completed its Qualifying Transaction granting it the right to purchase up to 100% of the issued and outstanding shares of Rogi in exchange for a total of up to US$2.75-million in cash and the issuance of up to 5.7 million shares to Rogi’s shareholders over a period of five years. Rogi mobilized a 3,000-metre drill program on the Miyove gold project in December 2010 and drilling commenced early in January 2011.
The Miyove gold project comprises three mineralised corridors, Karenda, Baradega and Masogwe all of which lie along a northwest – southeast mineralized trend over a six kilometre stretch. Drilling to date has focused on the Karenda zone, an area of historic production, and in particular on gold mineralization beneath previous trenches (2006-2009), gold mineralization based on an approximation of the 1980s United Nation drilling and on geological targets. To date, 1,279 metres have been completed in ten holes, from five drill sites. Drilling has been difficult on the Karenda Zone due to strongly oxidised and weathered rock conditions, complications with old workings and limitations of the drill equipment. The Company has received assay results for holes 1, 2, and 4 and partial results for holes 3 and 5.
The Miyove gold project is underlain by rocks of the central African Mesoproterozoic-aged Kibara orogen that extend from Katanga (Democratic Republic of Congo) in the south, to southern Uganda in the north. The Kibaran geology on the property consists of shale, siltstone, sandstone and rare conglomerate units. Mineralization is associated with multiple northwest-southeast-trending gold-bearing quartz veins and stockworks, and associated wall rock alteration comprising kaolinization and iron oxidation.
Rogi is well established in Rwanda, and complemented by contract personnel who have experience and knowledge in the country and the ability to conduct efficient and effective exploration programs. Samples were sawn and collected from the diamond drill holes and delivered by the Company to SGS Minerals Services, Mwanza, Tanzania. SGS undertook sample preparation and analysis for gold by fire assay with an atomic absorption finish on 30-gram samples. To date only gold assays have been received, however multi-element analysis will follow shortly.
Simba is an African-focused gold exploration company with an option to acquire a company that owns gold exploration rights within the Gicumbi, Burera, Rusizi and Nyamasheke Districts, and nickel exploration rights within the Kirehe District of the Republic of Rwanda. Simba’s principal property is the Miyove Gold Project located in the Gicumbi and Burera Districts.
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