Mr. Richard Young reports
TERANGA GOLD ANNOUNCES LATEST DISCOVERY AT GOLDEN HILL: JACKHAMMER HILL PROSPECT
Teranga Gold Corp. has had early-stage drilling success at its newest discovery, Jackhammer Hill, situated on its Golden Hill property in Burkina Faso, West Africa. Teranga has an earn-in agreement on the Golden Hill property with Boss Resources Ltd., pursuant to which Teranga, as the operator, can earn an 80-per-cent interest in the joint venture upon delivery of a feasibility study and the payment of $2.5-million (Australian).
These diamond drill results at Jackhammer Hill were successful in discovering a large high-grade mineralized prospect. To date, there are four encouraging prospects drilled at Golden Hill: Ma, Nahiri, Peksou and Jackhammer Hill. Each of these four prospects is located approximately five kilometres from a central point.
Jackhammer Hill prospect highlights
-
15 metres at 5.72 grams per tonne gold, including four m at 16.37 g/t Au, including one m at 42.1 g/t Au; and nine m at 4.13 g/t Au, including three m at 10.63 g/t Au, including one m at 25.3 g/t Au (GHDD-104);
-
14 m at 110.6 g/t Au, including five m at 306.7 g/t Au, including one m at 1,499 g/t Au (GHDD-111) (uncut);
-
10 m at 3.44 g/t Au, including one m at 19.0 g/t Au (GHDD-103).
"Jackhammer Hill is our fourth prospect and newest drilling discovery at Golden Hill. Our most recent drilling here includes some very positive intersections, including core intervals of 15 metres averaging 5.72 grams per tonne of gold and nine metres averaging 4.13 grams per tonne of gold in the same hole, GHDD-104. This demonstrates that multiple mineralized zones exist throughout Jackhammer Hill," said David Mallo, Teranga's vice-president, exploration. "As well, Jackhammer Hill is where our highest-grade interval drilled to date at Golden Hill occurs -- 14 metres averaging 110.6 grams per tonne, including one-metre displaying abundant visible gold which grades 1,499 grams per tonne of gold in GHDD-111. In total, we have successfully drilled 600 metres of strike length of a surface anomaly of more than one-kilometre extent.
"Although we are still at an early stage, we recognize considerable upside for continued exploration success as we extend our drilling evaluation program at Jackhammer Hill both along trend beyond our initial target and to depth where the mineralized structures remain open to further expansion."
The Golden Hill property comprises three adjacent exploration permits covering 470 square kilometres located in southwest Burkina Faso in the central part of the Hounde greenstone belt. This belt hosts a number of high-grade gold discoveries, including the Siou, Yaramoko and Hounde deposits, the latter property being contiguous with Golden Hill. To the south of Golden Hill is another large land position where active exploration programs are well under way.
Jackhammer Hill prospect
Diamond drilling is currently under way at the Jackhammer Hill prospect for which 16 drill hole results are reported within this news release. Prior to this current drilling program, the company had drilled only two scout holes which included a previously reported diamond drill interval of 1.26 g/t Au over 5.2 metres in GHDD-001. Interpretation from oriented drill core from the initial scout drilling indicated that the gold mineralized zones were dipping to the southeast within an altered and sheared diorite intrusive host. As such, drilling direction has been more appropriately oriented during the current drill phase.
Drilling results are available for approximately a 600-metre strike extent of the initial plus-1,000-metre geochem target.
JACKHAMMER HILL PROSPECT -- SELECTED DRILL HIGHLIGHTS
Hole Interval (m)* Core length (m)* Grade (g/t Au)
GHDD-101 27-30 3 1.07
GHDD-102 22-29 7 1.28
129-134 5 1.24
GHDD-103 50-60 10 3.44
Including 53-54 1 19.02
GHDD-104 44-53 9 4.13
Including 45-48 3 10.63
Including 47-48 1 25.28
63-64 1 1.31
93-108 15 5.72
Including 98-102 4 16.37
Including 100-101 1 42.07
GHDD-105 25-26 1 1.63
GHDD-106 23-27 4 1.05
36-40 4 1.36
GHDD-107 22-23 1 15.38
54-56 2 7.45
GHDD-108 57-58 1 3.57
76-77 1 3.30
104-107 3 2.93
140-145 5 1.40
GHDD-109 60-61 1 1.57
76-78 2 1.83
113-119 6 3.00
Including 116-117 1 10.22
GHDD-110 19-21 2 3.05
69-70 1 4.98
73-78 5 2.15
Including 77-78 1 6.82
GHDD-111 15-18 3 1.78
52-55 3 1.45
66-80 14 110.6
Including 66-71 5 306.7
Including 67-68 1 1,498.8
66-80 14 5.71
Including 66-71 5 12.92
Including 67-68 1 30.00
GHDD-112 40-44 4 1.24
101-103 2 3.16
GHDD-113 32-33 1 2.75
GHDD-114 132-134 2 1.44
GHDD-115** 15-16** 1** 2.89
18-19** 1** 0.69
23-24** 1** 0.96
GHDD-116 118-119 1 1.36
* Intervals are calculated with a 0.4 g/t Au cut-off and two m maximum internal dilution. True widths
are unknown.
** Hole GHDD-115 encountered artisanal openings between 15 to 24 m over which no sample was recovered
from 16 to 18 m, 19 to 21 m and 22 to 23 m.Competent persons statements
Teranga's exploration programs in Burkina Faso are being managed by Peter Mann, FAusIMM. Mr. Mann is a full-time employee of Teranga and is not independent within the meaning of National Instrument 43-101. Mr. Mann has sufficient experience which is relevant to the style of mineralization, type of deposit under consideration and to the activity which he is undertaking to qualify as a qualified person under National Instrument 43-101. The technical information contained in this news release relating to exploration results are based on, and fairly represents, information compiled by Mr. Mann. Mr. Mann has verified and approved the data disclosed in this release, including the sampling, analytical and test data underlying the information. The reverse circulation and diamond core samples are assayed at the BIGGS Laboratory in Ouagadougou, Burkina Faso. Mr. Mann has consented to the inclusion in this news release of the matters based on his compiled information in the form and context in which they appear herein.
About Teranga Gold Corp.
Teranga is a multijurisdictional West African gold company focused on production and development, as well as the exploration of more than 5,000 square kilometres of land located on prospective gold belts. Since its initial public offering in 2010, Teranga has produced more than 1.2 million ounces of gold from its operations in Senegal. Focused on diversification and growth, the company is advancing its Banfora development project and is conducting extensive exploration programs in three countries: Burkina Faso, Senegal and Ivory Coast. As at June 30, 2017, Teranga has reserve base of nearly 4.0 million ounces of gold, a strong balance sheet and the financial flexibility to expand its business.
We seek Safe Harbor.
© 2026 Canjex Publishing Ltd. All rights reserved.