• Toronto-based mineral exploration company Pasofino Gold (VEIN) has launched a drill program at its Dugbe Gold Project in Liberia
  • Nine holes over approximately 1,200 metres have been planned at the Tiehnpo target, which consist of four anomalous trends over three kilometres along strike
  • Initial results are expected before the end of the year, with follow-up drilling to be carried out at the Dugbe F and Tuzon targets in the first quarter of 2021
  • The company has an option to earn a 49 per cent economic interest in the Dugbe Project once feasibility studies and exploration commitments have been met
  • Pasofino Gold is currently steady at C$0.18 per share

Toronto-based mineral exploration company Pasofino Gold (VEIN) has launched a drill program at its Dugbe Gold Project in Liberia.

Covering an area of 2,355 square kilometres, the project sits within “Birimian” aged rock which are host to the majority of West Africa’s gold deposits, and is located 70 kilometres by road from the Greenville deep-water port.

Nine diamond drill holes have been planned for a total of approximately 1,200 metres of drilling, which will focus on the Tiehnpo target. The target consists of four anomalous trends along three kilometres of strike, and each hole will be drilled to a depth of between 100 and 200 metres.

Pasofino expects initial results to be received before the end of the year, while follow-up drilling will be carried out at the Dugbe F and Tuzon targets in the first quarter of 2021.

“This marks the first milestone in the Company’s current exploration and development program as Tiehnpo is one of several targets that have been identified for follow-up drilling,” said Ian Stalker, CEO of Pasofino’s African Operations.

“Together with the recent start of both the Dugbe Project ESIA and FS, which are planned for completion by [the fourth quarter of] 2021, and the planned target infill and resource expansion drilling at both the Dugbe F and Tuzon deposits respectively, this is very encouraging,” he added.

According to an agreement with AIM-listed Hummingbird Resources, Pasofino has an option to acquire a 49 per cent economic interest in the Dugbe Project – prior to the issuance of the Government of Liberia’s 10 per cent carried interest – once feasibility studies and exploration commitments have been met.

Pasofino Gold is currently steady at C$0.18 per share, as of 11:22am EST.

More From The Market Online

Silver One just raised C$5.9M: Why its stock could be a winner

Silver One Resources (TSXV:SVE), a microcap silver stock, closes an oversubscribed financing for a little more than C$5.9 million.
Vista Gold Corp. is a gold project developer with its flagship Mt Todd asset, located in the mining friendly jurisdiction of Northern Territory Australia.

Vista funded to advance Australia’s largest undeveloped gold project

Vista Gold (TSX:VGZ) receives the final US$10 million instalment under its royalty agreement with Wheaton Precious Metals (TSX:WPM).

Great Pacific Gold reveals high-grade assays in Australia

Great Pacific Gold (TSXV:GPAC) reveals high-grade gold assays at the Comet gold discovery on the Lauriston Gold Project in Australia.