Gold price slips as traders weigh outlook for Fed interest rate cuts
Bullion traded near $2,626 an ounce in thin trading after closing 1.1% higher on Friday.
Roscan Gold has reported drill results from 20 holes completed at the Mankouke South target within the company’s 254-sq.-km Kandiole project in West Africa; the latest results extend this zone of mineralization to the north.
Diamond drill highlights include 46.5 metres of 6.15 g/t gold starting at 118.5 metres; 41 metres of 5.2 g/t gold from 38.5 metres; as well as 68 metres of 3.98 g/t gold starting at 7.5 metres.
“These positive results demonstrate the extension of the Southern Mankouke mineralization to the north,” Nana Sangmuah, the company’s president and CEO, said in a release.
In June, Roscan signed a definitive agreement with Komet Resources to purchase the 35-sq.-km Dabia Sud gold property, directly north of Kandiole
“We have traced this new zone over 200 metres in strike length and continue to increase the footprint of the deposit. We are very excited to intersect gold in the fresh rock again and increase the depth of mineralization at Mankouke South.”
Sangmuah added that Roscan will continue testing its property for additional gold discoveries, in addition to the ongoing drilling at Mankouke South. Additional results are expected in the coming weeks.
Mankouke South has been traced over at least 700 metres of strike, over widths of up to 125 metres and down to a vertical depth of 173 metres.
The company’s Kandiole project features parallel prospective trends with 8 targets contained within 6 permits. The Mankouke permit within Kandiole is nearby B2 Gold’s Fekola mine and Iamgold’s Boto project.
In June, Roscan signed a definitive agreement with Komet Resources to purchase the 35-sq.-km Dabia Sud gold property, directly north of Kandiole.
(This article first appeared in the Canadian Mining Journal)
