Randgold Resources > Financials > Quarterly reports > 2007 > Quarterly Report 31 December 2007
Quarterly Report 31 December 2007
EXPLORATION ACTIVITIES
The quarter brought to an end a very busy and productive year in exploration and continued to place the company in a very good position to continue its strategy of development through organic growth. Randgold Resources has a quality groundholding of 12 723km2 across some of the most prospective gold belts in Africa and a portfolio of 171 targets, ranging from the regional level to reserve definition.In Senegal, at Massawa, 2 436 metres of infill RAB drilling has been completed and returned high grade results from 3 metre composite samples, including MWRAB102 - 24 metres at 8.58g/t (including 3 metres at 58.70g/t), MWRAB106 - 39 metres at 10.60g/t (including 3 metres at 36.40g/t and 9 metres at 30.95g/t), MWRAB109 - 30 metres at 11.01g/t (including 3 metres at 44.60g/t, 3 metres at 26.90g/t and 3 metres at 33.30g/t), MWRAB111 - 20 metres at 4.09g/t, MWRAB132 - 15 metres at 2.60g/t and MWRAB156 - 27 metres at 3.03g/t. This drilling has now infilled the surface work to 200 metre line spacing and confirmed continuous mineralisation over 2.8 kilometres of strike length in a northeast orientation and open in all directions. Geologically the target is underlain by a sequence of interbedded sediments and volcanics, which have been intruded by felsic dykes, gabbros and granitic bodies. The rock units have been affected by northeast shearing, associated with the main transcurrent shear zone which in turn has been reactivated dextrally by north-south belt discordant structures, resulting in dilation and mineralisation. There are varying degrees to the intensity of alteration (silica-carbonate-sericite-pyrite-arsenopyrite) and locally brecciation and brittle fracturing are associated with the gold mineralisation. A 5 000 metre plus diamond drilling programme will commence during Q1.
At Loulo, drilling in the gap area between the main and northern zones at Faraba continues to extend mineralisation, with drill holes intersecting an approximately 100 metre (true width) envelope of strong shearing, alteration and zones of gold mineralisation. Results include: FADH026 - 13.10 metres at 3.08g/t from 246 metres and 4.55 metres at 9.11g/t. At Baboto, RAB drilling has continued to delineate the geometry of surface mineralisation and has returned encouraging results at the central target with hole BARAB58 intersecting 30 metres at 2.15g/t and BARAB59 - 21 metres at 2.93g/t. At Loulo 3, three diamond holes confirmed a north-south structural control to the mineralisation and a narrow high grade sulphide unit was intersected in two of the holes. L3DH27 - 6.80 metres at 0.72g/t, L3DH28 - 14.70 metres at 5.95g/t, including 0.8 metres at 88.10g/t, L3DH29 - 3 metres at 10.82g/t. All the data is currently being integrated, modelled and the economic potential for a small open pit evaluated.
Following the consolidation of a 1 327km2 land package in the Loulo district, straddling the highly prospective Senegal-Mali shear zone, both in Mali and Senegal, a helicopter borne VTEM electromagnetic survey is now being flown over this entire land package. This data will update the geological and structural model and prioritise targets for follow up work.
At Morila, four diamond holes (MEX1-4) were drilled, to an average depth of 610 metres, for a total of 2 441 metres, testing the northern and easterly extensions of the orebody. Results for the two northern holes (MEX1-2) confirm the termination of the orebody, while MEX 3 intersected a broad zone of low grade gold mineralisation along the eastern pit-margin (0.45 g/t over 45 metres, which included 1.27 g/t over 8 metres from 565 metres drilled depth) associated with a moderate to steeply dipping structure, which is in sharp contrast to the general flat lying nature of the orebody. The potential for this structure to flatten creating zones of dilation is considered to be a high priority target for follow-up work.
In Mali South, work has focused on the reconnaissance of the Bagoe East and Bagoe West permits held in joint venture with African Gold Group (AGG). These permits cover prospective Morila-type settings along the Banifin shear zone in close proximity to the Morila deposit. Preparations are underway to complete RAB drilling programmes over gold in soil geochemical anomalies within the permits.
In Burkina Faso, a review of all the geological and structural data confirms that a northeast plunging anticline hosts the Kiaka main zone. Also significant is that the last diamond hole drilled to the north returned 166 metres at 1.26g/t indicating the system is still open. A corresponding syncline hosts a narrow, but higher grade, zone of hangingwall mineralisation, which has not been evaluated and therefore has the potential to add to the upside of this target. An additional programme of diamond drilling is being planned to test these two targets. Elsewhere in the permit portfolio the team are developing targets for drilling in the 2008 field season.
In Ghana, on the Bole NE concession field mapping combined with logging of trenches and the interpretation of geological and structural data have defined a large scale anticline fold adjacent to the main Bole-Bolgatanga regional structure. It is apparent that when the gold results from the soil sampling are overlain on the fold, anomalous values correlate clearly with parasitic folds on the limbs of this large regional fold. A programme of RAB drilling is being planned to commence testing this large target area.
In Côte d'Ivoire, excellent progress continued at Tongon and Randgold Resources finished the year having completed 181 holes for 33 973.44 metres of diamond drilling. During the quarter, 87 holes for 13 566.44 metres were completed. While the exploration team has been focused on drilling out the resources, trenching has also commenced on two targets, namely Tongon South and Tongon East, in preparation for reconnaissance diamond drilling in 2008.
TONGON NORTHERN ZONE : DIAMOND DRILL RESULTS Q4 - 2007
|
Intersection |
Including | |||||||
|
Hole ID |
From |
To |
|
Au |
|
|
|
|
|
|
(m) |
(m) |
Interval |
(g/t) |
|
|
|
|
|
TND 133 |
43.15 |
68.07 |
24.92 |
6.22 |
1.92m @ 24.47g/t | |||
|
|
|
|
|
|
1.17m @ 47.30g/t | |||
|
TND 134 |
14.00 |
17.85 |
3.85 |
1.19 |
| |||
|
|
21.50 |
45.95 |
24.45 |
1.84 |
2.95m @ 6.32g/t | |||
|
|
74.85 |
75.75 |
0.90 |
1.82 |
|
|
|
|
|
TND 135 |
40.25 |
44.85 |
4.60 |
1.21 |
| |||
|
|
50.00 |
57.55 |
7.55 |
1.60 |
| |||
|
|
58.56 |
60.68 |
2.12 |
1.07 |
| |||
|
TND 136 |
33.70 |
65.55 |
31.85 |
3.67 |
4.55m @ 11.14g/t | |||
|
TND 137 |
73.30 |
74.30 |
1.00 |
11.40 |
|
|
|
|
|
TND 138 |
2.49 |
18.50 |
16.01 |
1.49 |
|
|
|
|
|
|
23.84 |
32.44 |
8.60 |
1.01 |
|
|
|
|
|
TND 139 |
72.40 |
117.40 |
45.00 |
1.99 |
14.10m @ 4.14g/t | |||
|
TND 143 |
131.26 |
149.08 |
17.82 |
2.31 |
1.68m @ 9.95g/t | |||
|
TND 144 |
86.45 |
109.90 |
23.45 |
3.63 |
5.15m @ 10.36g/t | |||
TONGON SOUTHERN ZONE : ASSAY RESULTS Q4 - 2007
|
Intersection |
Including | ||||
|
Hole ID |
From |
To |
Au |
| |
|
|
(m) |
(m) |
Interval |
(g/t) |
|
|
TND 157 |
52.40 |
54.70 |
2.30 |
4.96 |
|
|
|
58.65 |
61.00 |
2.35 |
1.73 |
|
|
|
80.16 |
85.26 |
5.10 |
1.81 |
|
|
TND 159 |
14.41 |
32.83 |
18.42 |
3.77 |
4.03m @ 6.99g/t from 14.41m |
|
|
|
|
|
|
3.41m @ 9.24g/t from 29.42m |
|
|
44.47 |
46.66 |
2.29 |
3.00 |
|
|
|
173.75 |
174.72 |
0.97 |
4.01 |
|
|
TND 160 |
111.06 |
111.98 |
0.96 |
2.50 |
|
|
|
121.98 |
122.94 |
0.96 |
1.16 |
|
|
TND 161 |
84.77 |
89.00 |
4.23 |
1.59 |
|
|
TND 169 |
8.60 |
50.21 |
41.61 |
5.51 |
5.20m @ 19.66g/t from 11.80m |
|
|
|
|
|
|
6.10m @ 13.40g/t from 35.49m |
|
|
59.49 |
61.63 |
2.14 |
1.75 |
|
|
TND 170 |
9.30 |
33.40 |
24.10 |
1.73 |
|
|
|
37.63 |
51.55 |
13.92 |
2.71 |
3.63m @ 5.69g/t from 42.27m |
|
TND 171 |
28.07 |
47.00 |
18.93 |
1.41 |
|
|
|
56.75 |
61.93 |
5.18 |
1.92 |
|
|
|
68.00 |
81.98 |
13.98 |
3.89 |
|
|
|
93.73 |
100.75 |
7.02 |
2.35 |
|
|
TND 172 |
3.19 |
4.50 |
1.31 |
2.60 |
|
|
|
33.20 |
47.30 |
14.10 |
2.26 |
|
|
|
49.15 |
55.44 |
6.29 |
5.42 |
|
|
TND 173 |
No mineralised intersection returned |
| |||
|
TND 174 |
1.28 |
10.50 |
9.22 |
0.56 |
|
|
TND 175 |
30.44 |
36.00 |
5.56 |
1.08 |
|
|
|
71.96 |
79.34 |
7.38 |
0.94 |
|
|
|
96.45 |
98.30 |
1.85 |
1.84 |
|
|
|
145.96 |
151.74 |
5.78 |
0.81 |
|
|
|
177.00 |
179.00 |
2.00 |
1.06 |
|
|
TND 176 |
14.08 |
20.50 |
6.42 |
2.10 |
|
|
|
32.88 |
37.37 |
4.49 |
5.33 |
|
|
|
41.44 |
42.28 |
0.84 |
6.39 |
|
|
|
45.95 |
52.52 |
6.57 |
1.96 |
|
|
|
98.00 |
105.20 |
7.20 |
1.94 |
1.14m @ 9.60g/t from 104.06m |
|
|
116.70 |
124.44 |
7.74 |
3.29 |
|
|
|
137.73 |
158.00 |
20.27 |
2.89 |
|
|
|
162.50 |
167.90 |
5.40 |
1.18 |
|
|
|
179.80 |
180.65 |
0.85 |
1.71 |
|
|
|
182.56 |
185.68 |
3.12 |
1.76 |
|
|
|
188.63 |
195.10 |
6.47 |
1.20 |
|
|
TND 177 |
45.75 |
51.75 |
6.00 |
1.90 |
|
|
|
72.82 |
78.58 |
5.76 |
1.83 |
|
|
|
88.58 |
90.58 |
2.00 |
3.57 |
|
|
|
93.58 |
94.58 |
1.00 |
1.89 |
|
|
TND 179 |
23.30 |
35.73 |
12.43 |
6.82 |
7.62m @ 10.52g/t from 28.11m |
|
|
52.13 |
59.70 |
7.57 |
5.19 |
2.51m @ 13.78g/t from 55.57m |
|
|
64.22 |
67.35 |
3.13 |
1.79 |
|
|
|
98.10 |
110.78 |
12.68 |
1.01 |
|
|
|
118.38 |
126.66 |
8.28 |
1.83 |
|
|
|
143.10 |
150.50 |
7.40 |
1.40 |
|
|
|
162.58 |
175.44 |
12.86 |
0.90 |
|
|
TND 180 |
13.00 |
24.12 |
11.12 |
10.74 |
4.50m @ 22.19g/t from 13.00m |
|
|
34.47 |
42.00 |
7.53 |
0.50 |
|
|
|
50.00 |
53.00 |
3.00 |
0.97 |
|
|
|
63.76 |
64.57 |
0.81 |
18.20 |
|
|
|
68.29 |
93.00 |
24.71 |
3.02 |
1.83m @ 8.40g/t from 70.17m |
|
|
|
|
|
|
4.00m @ 6.44g/t from 86.16m |
|
|
126.56 |
134.20 |
7.64 |
3.38 |
1.74m @ 9.69g/t from 128.46m |
|
|
139.54 |
151.85 |
12.31 |
2.75 |
|
|
159.35 |
167.53 |
8.18 |
1.30 | ||
|
TND 181 |
104.56 |
112.00 |
7.44 |
3.74 |
1.68m @ 13.05g/t from 109.47m |
|
|
160.03 |
182.33 |
22.30 |
2.27 |
3.97m @ 4.91g/t from 161.03m |
|
TND 182 |
3.44 |
9.00 |
5.56 |
5.39 |
0.76m @ 17.80g/t from 5.33m |
|
|
28.72 |
36.33 |
7.61 |
1.11 |
|
|
|
60.45 |
76.49 |
16.04 |
2.68 |
|
|
TND 187 |
32.10 |
39.00 |
6.90 |
2.62 |
|
|
|
87.85 |
90.17 |
2.32 |
3.12 |
|
|
|
95.80 |
98.20 |
2.40 |
3.83 |
|
|
|
104.56 |
108.70 |
4.14 |
3.13 |
|
|
TND 188 |
91.49 |
96.02 |
4.53 |
2.18 |
|
|
|
103.80 |
111.95 |
8.15 |
1.17 |
|
|
|
143.75 |
145.75 |
2.00 |
1.56 |
|
|
TND 189 |
95.00 |
96.00 |
1.00 |
1.21 |
|
In Côte d'Ivoire, we have a portfolio of six permits covering 4 880km2 in both the north and south of the country. In the south, first pass reconnaissance exploration has been completed on the Apouasso and Dignago permits. On the Apouasso permit, located in the southeast of the country close to the Ghana border, a 1 000 metre by 200 metre regional soil sampling programme has returned a 10 kilometre plus 10ppb regional gold anomaly, including a maximum value of 925ppb associated with the contact between a volcano-sedimentary belt and granite. On the Dignago permit, located in the southwest of the country regional soil sampling has defined a 5 by 2 kilometre plus10ppb regional soil anomaly, reconnaissance work continues on both permits.
The Boundiali permits, (1 314km2) located in the north of the country and approximately 100 kilometres west of Nielle, hosts the advanced target of Tiasso, and although no fieldwork was completed in 2007 preparations are underway to drill test. Previous trenching confirmed 2 kilometres of sub-surface mineralisation in saprolite with a best intersection of 25 metres at 4.39g/t.
In Tanzania, at Miyabi, all the Phase 1 drilling assays were received and no wide zones of deformation, alteration or mineralisation were intersected. The best intersections are 3.00 metres at 1.21g/t, (MBDH-35) and 25.50 metres at 0.59g/t, (MBDH-47). Mineralisation is controlled by folded banded iron formation and the intersection of northeast trending structures. Exploration is now concentrating on a 20 kilometre long northwest trending, weakly anomalous structural corridor, with RAB drilling planned for Q1.
Randgold has shifted some of its exploration emphasis to the mobile belts surrounding the Archaean Cratons in Tanzania. Gold mineralisation is hosted in highly deformed and silicified metamorphosed rock units above a major thrust. The units consist of thinly bedded impure marble and biotite gneiss/granulite. Early stage exploration has commenced on reconnaissance permits in the Morogoro area.
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