Komet wants to thank the Government of Burkina Faso, the Council of Ministers, the Finance Minister, all the different stakeholders of the Ministry of Mines and Energy especially its first responsible, the Mine and Energy Minister, Mr Boukabar BA.
Minutes of the March 25, 2015 Council of Ministers extract [translation]:
"The Council adopted a decree authorizing the transfer of STREMCO SA's industrial permit to operate a small gold mine to Komet Resources Africa SA, due to technical difficulties encountered by the former operator. The adoption of this decree enables the relaunching of gold mining activities at Guiro and Diouga, located in the provinces of Namentenga and SÃ©no while generating direct employment and revenues for the benefit of Burkina Faso's state budget."
Exploration work and resource calculation
Drilling work will begin shortly in order to complete a gold resource estimate of the Guiro deposit under the 43-101 standard. A historical feasibility studyprepared by the EMF firm in 1997 stated, for the Guiro deposit, measured resources of 115 000 tons at 11.82 g/t Au, indicated resources of 129 000 tons at 13.36 g/t Au, as well as inferred resources of 94 000 tons at 7.83 g/t Au. The calculation was done using the triangles method on a longitudinal strike of 280m at a depth of 80m. This historical estimate is not treated as current since a qualified person has not done sufficient work to classify it as current mineral resources. The Guiro deposit is contained within a quartz vein and its adjacent wall rocks. Drilling will aim to intercept this structure partially operated by the Stremco SA company.
The Guiro-Diouga permit, which holds the Guiro deposit, is strategically located in the eastern part of the Birrimian Bouroum-Yalogo greenstone belt. This belt has a high gold potential and also hosts the Taparko deposit, presently in operation.
Jacques Marchand, P.Eng. Geo., is the Qualified Person who has reviewed this news release and is responsible for the technical information presented there, including verification of the data disclosed.
More information about the corporation is available at: http://kometgold.com
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