Gold loses some luster after Trump’s decisive win
Gold’s slide is a marked turnaround for a commodity that had surged by more than 30% in the year leading up to the US vote.
SEMAFO (TSX:SMF) today announced the discovery of the new Yaho gold zone, located 4.5 kilometers southwest of the Fofina zone and 20 kilometers southwest of the Mana Mill in Burkina Faso.
Three Reverse Circulation (“RC”) drilling sections were carried out to date across this wide alteration zone with each section returning wide, significant grade intervals such as 2.27 g/t Au across 54 meters (hole MRC10-540 – section 15450N), 2.00 g/t Au across 20 meters (hole MRC10-542 – section 15450N), 1.37 g/t Au across 16 meters (hole MRC10-514 – section 15650N), 4.59 g/t Au (10.73 g/t Au uncut) across 10 meters (hole MRC10-526 – section 15850N), and 1.88 g/t Au across 88 meters (hole MRC10-529 – section 15850N).
“The new Yaho discovery shows outstanding widths, surpassing those originally obtained at Wona,” stated Michel Crevier, SEMAFO’s Geology Manager and Qualified Person. “It is also consistent with our current interpretation. Located near a regional fold hinge, the Yaho zone demonstrates that the fold hinges could represent an ideal structural environment for gold deposition, as observed at some world-class deposits elsewhere in West Africa and around the world.”
SEMAFO is a Canadian mining company with gold production and exploration activities in West Africa. The company currently operates three gold mines: the Mana Mine in Burkina Faso, the Samira Hill Mine in Niger and the Kiniero Mine in Guinea.
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