1 November 2021
ASX:BEZ
DRILLING TO COMMENCE
- Drill rig mobilisation at Besra Gold Inc’s (Besra or the Company) Bau Gold Project which hosts a total gold Resource of 6 Mt @ 1.43 g/t for 3.3Moz[1] and a global Exploration Target[2] of between 4.89 and 9.27Moz of gold @ 1.7–2.5 g/t Au on Tuesday, November 2, 2021.
- The diamond drill hole (DDH) program of 3,000m – 4,000m total will target key areas within the Jugan, Bekajang and Pejiru sectors of Besra’s Gold Project.
- This program will assist in classification upgrading and increasing overall Resource inventory in support of optimising pre-production plans.
- Multiple drilling programs are planned until mid-2022 to target Resource mineralisation open along strike and/or at depth including areas containing delineated Exploration Targets[2]
At Jugan DDH drilling will target the strike extent of shallower mineralisation within ML 140, to provide better definition of higher-grade zones, such as encountered in DDH 1131 that may be associated with the top of the plunging north-eastern mineralised limb.
| DDH 1131 | 46.0 m @ 4.61 g/t Au; including: |
| 8.0 m @ 17.14 g/t Au | |
| 17.85 m @ 3.35 g/t Au |
At Bekajang DDH drilling will target extension of the existing Resource1 (Indicated 120.4 koz @ 2.0 g/t Au + Inferred 524.1koz @ 1.5 g/t Au) beneath and surrounding an historical tailings dump where access was previously restricted.
At Pejiru DDH drilling will target extensions to the existing Resource1 (Inferred Resource of 970 koz @1.2 g/t Au) including evaluating current open depth extents, where previous drillholes terminated within high-grade mineralisation.
This announcement was authorised for release by the Board of Besra Gold Inc.
Ray Shaw
Chief Executive Officer
For further information:
| Australia | North America |
| Ray Shaw
CEO Mobile: +61 419 403 533 Email: ray.shaw@besra.com |
James Hamilton
Investor Relations Services Mobile: +1 416 471 4494 Email: jim@besra.com |
Competent Person’s Statement
The information in this Announcement that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Mr. Kevin J. Wright, a Competent Person who is a Fellow of the Institute of Materials, Minerals and Mining (FIMM), a Chartered Engineer (C.Eng), and a Chartered Environmentalist (C.Env). Mr. Wright is a consultant to Besra. Mr. Wright has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the JORC Code (2012 Edition) of the Australasian Code for Reporting of Exploration Results, and a Qualified Person as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators.
Kevin J. Wright consents to the inclusion in this Announcement of the matters based on his information in the form and context that it appears.
Disclaimer
This Announcement contains certain forward-looking statements and forecasts concerning future activities, including potential delineation of resources. Such statements are not a guarantee of future performance and involve unknown risks and uncertainties, as well as other factors which are beyond the control of Besra Gold Inc. Actual results and developments may differ materially from those expressed or implied by these forward-looking statements depending upon a variety of factors. Nothing in this Announcement should be construed as either an offer to sell or a solicitation of an offer to buy or sell securities.
Unless otherwise indicated, all mineral resource estimates and Exploration Targets included or incorporated by reference in this Announcement have been, and will be, prepared in accordance with the JORC classification system of the Australasian Institute of Mining and Metallurgy and Australian Institute of Geoscientists.
Disclosure
The information in this announcement is based on the following publicly available announcements previously lodged on the SEDAR platform:
- Besra Gold Inc Bau Gold Project Sarawak Malaysia Exploration Target Inventory. Lodged SEDAR Platform Feb 26, 2021;
- Besra Bau Project – Mineral Resource and Ore Reserve Updated to JORC 2012 Compliance. Lodged SEDAR Platform Nov 22, 2018;
which are available on https://www.sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00001815 or on Besra’s website www.besra.com.
[1] Refer Prospectus dated 8 July 2021 in Section 3.11 and Attachment G.
[2] The potential quantity and grade of the Exploration Targets is conceptual in nature; there has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration work will result in the estimation of a Mineral Resource.