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19.07.2004 Business & Finance

Randgold Returns to Burkina Faso

By GNA

Accra, July 19, GNA - Randgold Resources is to start exploration in Burkina Faso on account of the Danfora Permit granted it to operate in the Banfora Greenstone Belt in the Southwest Region of that Country. A second permit for Kiaka has also been granted within the country.

The Company's return to Burkina Faso marked part of its continued expansion into Africa and its footprints and activities also covered Mali, Ghana, Senegal, C=F4te d'Ivoire and Tanzania and include 78 gold targets within a portfolio of 40 permits and licences. Danfora and Kiaka represent new opportunities previously untested by other exploration companies were identified under the Randgold Resource's Generative Work in 2003.

A statement made available to the Ghana News Agency Business Desk said reconnaissance work on the 45 square kilometres Danfora permit had a plus one-kilometre zone of gold mineralisation located within sheared and altered basalts.

Officials found over 60 different rock samples with between 0.5 and 72.0 grams of gold per tonne of ore (g/t).

One kilometre south of this zone, a second mineralised site has been identified along the same northeast trending structure. Both areas are the subject of follow-up programmes including a detailed ground magnetic survey designed to identify the main shear zone and the basalts. Drill testing is planned for this target during the final quarter of this year.

A second permit called Kiaka has been secured for exploration in Southern Burkina Faso and covers an area of 245 square kilometres. Kiaka is located in highly metamorphosed rocks and mineralisation is associated with the northeast trending Markoye Fault, which can be followed for over 20 kilometres within the permit area. The statement noted that exploration work here would commence after the rainy season.

Randgold Resources owns 40 per cent of the Morila Mine in Mali and is currently developing the Loulo Mine, also in that country. 19 July 04

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