Nabanga Project

2017 Exploration

A budget of $1 million has been earmarked for the Yactibo Permit Group that hosts the Nabanga project with the aim of investigating parallel structures in the Nabanga intrusive.

In the second quarter, 920 meters of RC drilling were conducted in the Nabanga intrusive with the objective of investigating parallel structures to the main quartz vein. A total of 6,900 meters of RC drilling in 63 holes has now been carried out in t he year, completing the program. Results show that structure does not contain significant gold bearing values.

Inferred Resources

Located 250 kilometers south-east of Ouagadougou, the Nabanga Gold Project lies within the Nabanga exploration permit.

The data for the inferred resource estimate comprised 239 reverse-circulation (RC) and 14 diamond drill holes with collars spaced nominally over a grid of 40 meters along the strike by 20 meters across strike, with holes inclined between 60-75 degrees to the south-east intersecting the mineralization at about 45 degrees to normal. Drilling completed (253 drill holes) by Orbis at Nabanga defined a high grade gold discovery.

Table 1: Nabanga Mineral Resource (Yactibo Permit Group) as at June 25, 2015

Classification Oxidation state Tonnes Mt Au g/t Ounces Koz
Inferred Resources Oxide 0.08 8.9 20

Fresh 1.76 10.1 570
Inferred total 1.84 10.0 590

(1) Nabanga Mineral Resource, reported above a 5.0 g/t Au cut-off grade

The technical report has been filed on or can be accessed here.