Alecto Minerals newest terrain sampling technique discovers gold

Alecto Minerals' recent terrain sampling strategy has discovered more signs of gold at their Kossanto Gold Project, West Mali.

Trenching at the Gourbassi East Main Zone revealed quality mineralisation while prospecting south of the Main Zone uncovered a fresh 150 metres (m) long strike.

Soil analysis around the Gourbassi East site revealed low order morphic signals of up to 2.5 kilometres (km) strip length and over 100m width. Alecto will now execute rotary air blast (RAB) drilling utilizing their own equipment and a 100 line-km magnetic survey above the top gold-in-soil anomalies.

Mark Jones, Alecto's CEO, explained: "The Kossanto Gold Project in Mali has a substantial resource of 107,000 ounces of gold at our Gourbassi East site and strong prospects in new locations, as further demonstrated by these newest exploration outcomes.

"The fresh mineralisation within the current resource area generates additional confidence in our near term goal of increasing our gold resources and the detection of fresh traces across the larger tenure is exciting, especially provided that a number of substantial gold deposits found in the area up to now are associated with broad-scale soil anomalies at or over the 50ppb Au [parts per billion gold] limit.".

Alecto has even released 130.4 mln new shares in relation to their acquisition of AME West Africa, a stock subscription by Savannah Resources and a change of debt to equity by Fahad Al Tamimi.

Alecto Minerals plc is an Africa-targeted, gold and base metal prospection company, cited on AIM, with prospection initiatives in Mali, Mauritania and Ethiopia.

The progressive growth of the Kossanto Gold Project in Mali is the Firm's predominant business interest and with substantial value upside opportunity evident across the tenure.

Alecto has a partnership with Centamin plc over 2 potential gold discovery permits in Ethiopia that sees Alecto maintain exposure to the deposits with no capital costs, along with the wholly owned Wad Amour IOCG Project in Mauritania which is at discovery level.

Consolidated, these ventures provide the firm with a robust, varied portfolio with exciting prospection opportunities.