Bassala, Mali

Highlights

9km Gold Anomaly

with extensive artisanal workings

High-Grade Intersections

reported from previous drilling and artisanal workings

Near Major Mines

Within 8-10km of Kalana (Endeavour, 4Moz) and Kodieran (Wassoul’or, 2Moz) mines

Location

Mali - Burkina Faso

The Bassala project is located within a highly gold endowed Birimian volcano-sedimentary belt in southwestern Mali, approximately 200km south of the capital city Bamako (Figure 1). The belt hosts the Kalana (Endeavour Mining, 4Moz) and Kodieran (Wassoul’or, 2Moz) gold mines, both within 8-10km of the licence area.

The adjacent belt to the west is also well endowed with gold and hosts the Siguiri (AngloGold Ashanti (“AngloGold”), 17Moz), Tri-K (Avocet Mining, 3Moz), Kobada (African Gold Group, 3Moz), and Yanfolila (Hummingbird Resources, 2Moz) gold mines.

History and Geology

Project History and Geology

Whilst the licence hosts prolific artisanal mining activity, the only significant previous systematic exploration was undertaken by AngloGold during the period 2010-2011. That work consisted of broad spaced soil sampling at 800m x 100m spacing with limited infill to 400m x 50m and 200m x 50m spacing in selected areas.

It identified several gold in soil anomalies but it was difficult to interpret major trends due to the broad sample spacing.

The surface sampling campaign was followed up by selective shallow trenching designed to investigate beneath the laterite cover. That work was unsuccessful due to the thickness of the laterite.

Revealed Indicators

Mineral Discoveries Revealed

21m 1.15g/t Au from 15m including 3m
15m 0.56g/t Au from 3m to the end of the hole
3m 0.78g/t Au from 21m to the end of the hole
6m 0.49g/t Au from 39m to the end of the hole
3m 1.55g/t Au from 9m
3m 1.16g/t Au from surface

Refined Gold Trends

Improved Definition of Gold Mineralization Trends

Work conducted to date by Panthera has consisted of systematic soil sampling at 200m x 100m spacing (Figures 2 & 5) combined with detailed regolith mapping as shown in. This more detailed sampling has resulted in a much better definition of gold mineralisation trends, especially when interpreted in light of the regolith mapping.

It is now apparent that the main trend is roughly north-south with the only significant gaps in the anomalous trend being due to depositional regimes associated with recent alluvium that mask any underlying gold mineralisation.

Near-Source Gold Discovery

Recent Finds by Artisanal Miners

Artisanal miners have recently obtained some coarse angular gold from these workings suggesting it is close to the original bedrock source

Artisanal Workings beneath Laterite Hardpan

Coarse Angular Gold from Artisanal Panning

9km Strike Close to Key Sites

Major Gold Target Defined Near Mines

This recent work, when combined with the previous AngloGold RAB drilling, defines a large gold target in excess of 9km long in an almost north-south direction and within 8-10 km of two operating gold mines with gold endowments of 2Moz and 4Moz respectively.