Vital commences drilling at Bouli gold project in Niger

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  • Vital commences 3000m of RC drilling to test the Bella Tondi prospect, part of the recently acquired Bouli Gold Project in Niger, West Africa
  • Bella Tondi has had intensive hard rock artisanal activity over +1.5km of strike
  • Diamond drilling in 2016 at the nearby Burke Burke and Petit Druikou prospects returned high-grade gold intercepts[1] of:
    • BDD002: 17.9m @ 7.92 g/t Au from 57.2m
    • BDD001: 1.6m @ 16.58 g/t Au from 63.7m
    • BDD029: 7.1m @ 2.73 g/t Au from 16.0m
  • RC drill program expected to take 6 weeks with results expected in late January 2018

Vital Metals Limited (ASX: VML) is pleased to advise it has commenced a 3,000m RC drill program at the Bella Tondi prospect, part of the Bouli Gold Project in Niger.

Bella Tondi is located approximately 25km north of the 2.5Moz Samira Hill gold project on a prominent north-south structure with gold mineralisation located on the contact between a mafic instructive and volcanoclastics.

There has been significant hard rock artisanal mining over a strike length of +1.5km, with up to 20,000 miners working on it. Workings stopped at approximately 50m depth due to hitting the water table. Vitals program will be the first time the mineralisation has been drill tested.

Vital’s maiden drill program is designed to test gold mineralisation under artisanal workings with drill fences spaced on 100m sections along the strike of the workings. The drilling is expected to take 6 weeks to complete, with the first assay results due late January 2018.

Vital Managing Director Mark Strizek said the Company was excited to drill test the prospect. “Having just returned from Bella Tondi, the prospect ranks as one of the largest artisanal fields I have visited. The scale of workings and volume of people were sufficient to allow the construction of a mobile phone tower just for the immediate area.” he said.

“I am also very pleased with the level of support shown for our exploration program from the Niger Government, SUMMA and their Niger partners.”

Bouli Project Agreement

As  announced  on  18th  October  2017,  Vital’s  drilling  at  Bella  Tondi  is  part  of  an  exploration  agreement  with  private  Turkish  company  SUMMA  over  the  Bouli  Project.  Vital will spend $ 1 million on exploration at Bouli over six months, after which it can elect to proceed or withdraw  from  the agreement. If  Vital  chooses  to  proceed,  the  Company  can earn a  50% interest in  the project  by  spending  an  additional  $5M  on  exploration  over  two  years.  On  establishment  of  a 50/50 joint venture, Vital can acquire SUMMA’s stake for a 2.5% gross revenue royalty.

Contact:
Mark Strizek
Managing Director
Vital Metals Ltd
Phone: +61 8 9388 7742
Email: vital@vitalmetals.com.au

Media Inquiries: 
Nathan Ryan
Investor Relations
NWR Communications
Phone: +61 420 582 887
Email: nathan.ryan@nwrcommunications.com.au