DFR Gold begins 10,000 metre drilling program at Cascades Project

DFR Gold Inc. is pleased to announce the start of a 10,000 metre drilling program on the Cascades Project in Burkina Faso, West Africa. The Drilling Program represents the first part of a longer-term plan to systematically test exploration targets that have now been identified within the mineralised corridor at the Cascades Project.

The Drilling Programme will be in two phases. The first 5,000 metres target extensions to the current resources and several new targets:

  • Two newly defined targets immediately north and southwest of the Daramandougou resource pit shell respectively;
  • Step-out drilling on the TT13 target, a significant new gold zone identified during 2022; and
  • First-pass drilling on several other of the newly delineated targets in the Wuo Land 2 licence area.

Phase two will be a results-driven follow-on programme targeting the highest priority results from the first phase. The Cascades Project comprises two exploration license areas, Wuo Land and Wuo Land 2 in the Comoé province of southern Burkina Faso.  Moydow Holdings, the Company’s subsidiary, completed 4,739 metres of reverse circulation drilling between May and August 2021 in a program designed to validate the historical High River Gold Mines Limited (“High River”) and Taurus Gold Limited (“Taurus”) drilling databases. This allowed DFR to prepare a maiden mineral resource estimate on the property in accordance with the provisions of National Instrument 43-101 – “Standards of Disclosure for Mineral Projects” (“NI 43-101”):

Indicated mineral resource estimate*:   5.41Mt @ 1.52g/t Au (264,000oz)

Inferred mineral resource estimate*:     6.93Mt @ 1.67g/t Au (371,000oz)

A subsequent 4,975 reverse circulation drilling program, executed by DFR during 2022 demonstrated the potential for increasing the resource estimate at Wuo Ne and Daramandougou targets in addition to a new discovery at TT13, a newly identified target some 6km southeast of the Wuo Ne resource areas.  Field exploration to date during the 2022-2023 dry season has concentrated on delineating and prioritising a number of newly discovered targets and progressing them to drill ready status.

Cascades Project exploration

The Cascades Project lies in the Banfora Birimian Greenstone Belt, one of the three major mineralized belts in western Burkina Faso. Gold mineralization at the Cascades Project is spatially associated with sulfides and quartz sericite alteration. Following the addition of the Wuo Land 2 license to the project in early-2022 an extensive mapping program has been completed with the assistance of drone photography and multispectral remote sensing surveys.  Historical geophysics (IP and EM) surveys have helped define a 30km long mineralized corridor.

Within this corridor, historical and recent mapping and sampling combined with the widespread activity of artisanal miners has identified at least seven northeast-southwest trending shear structures with mapped strike extent of 15km to 25km.

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