Thursday, 31st August 2006 (2635 views)

SearchGold has announced that work at its Bakoudou-Magnima gold project is advancing as planned.

The site is situated in Gabon, west Africa. Staff at the mine are currently aggregating geochemical and geophysical data from recent surveying work and assay results are beginning to filter through.

Work teams are establishing drill stations and clearing new roads on the property as the dry season continues. A second drill rig is being transported to the site and new drilling work is scheduled to begin at the start of October.

Geochemical surveying covering the whole area will soon be completed and new drill targets will be established using that information as a guide. Sampling work on a semi-regional exploration programme will continue.

The company reports that it has received the second payment towards the joint venture agreement signed one year ago with Managem. This installment totals C$400,000.

SearchGold's president Philippe Giaro said: "We are very pleased with Managem's progress which I was able to confirm during my recent trip to Gabon in July. As reported in our July 11th press release, sample and data collection work has progressed very well right through the rainy season.

"We are on schedule with the current program which is designed to fast-track a production decision on an optimised resource while maximising the blue sky potential of the property."

 

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