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Papillon increases resource at Fekola

24th January 2013

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) - ASX-listed junior Papillon Resources has increased its Fekola gold resource by some 34%, to 4.21-million ounces.

The flagship Fekola project, in Mali, was now estimated to host a resource of some 54.97-million tons of ore, averaging 2.38 g/t gold. The mineral resource estimate included a measured and indicated resource of 44.31-million tons, representing some 83% of the entire resource.

“The updated mineral resource estimate is another significant milestone in accelerating the development of the Fekola project, again highlighting the world-class attributes of the project,” said Papillon’s MD Mark Connelly.

“We believe that it provides an excellent platform for future growth as well as greatly enhancing Papillon’s ability to fulfill its strategic objective of becoming a West African gold producer in the near term.”

During 2013, Papillon’s drilling campaign, which was already under way, would continue to focus on expanding the mineral resource estimate as well as testing numerous priority targets within the Fekola corridor and the surrounding area.

The updated mineral resource estimate would now be incorporated into a prefeasibility study, which would likely be completed by the second quarter of this year.

Edited by Creamer Media Reporter

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