EXPLORATION & DEVELOPMENT

Douze gold hit a real doozy

Burey's DRC project shows strong early promise

Michael Quinn

This article is 8 years old. Images might not display.

“Finding such high grade this early on the Douze Match anomaly suggests we have discovered a potential company-making prospect where we will now focus on testing along strike and to depth,” Eckhof said in a Burey Gold release to the ASX.

Results from Burey’s scout drilling at Douze Match were headlined by a hit of 3 metres grading 1260 grams per tonne from 15m depth.

Eckhof suggested the results were “particularly meaningful” because Douze Match is only 30km from Kibali project that hosts about 17 million ounces of gold.

Eckhof knows a thing or two about Kibali.

For it was Eckhof who previously put together Moto Goldmines, a DRC gold explorer that was discovering millions of ounces at Kibali when it was taken over in for about $US500 million by Randgold and AngloGold in 2009.

Douze Match is part of Burey’s Giro gold project covering 610 sq.km in the same region, a region that aside from Kibali also features significant historic and recent artisanal mining.

The shallow drilling is testing 1km of a 4km by 2.5km soil anomaly.

Next results are due early next month.

Eckhof will be promoting Burey in London next week.

Burey raised $A3.35 million in April by issuing shares at 2.8c.

Shares in Burey immediately soared 80% upon news of the results from Douze Match, though by mid-morning they had softened from that initial spike and were up about 40% at 5c. At that price the company is capitalised at about $42 million.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

editions

Mining Company ESG Index: Benchmarking the Future of Sustainable Mining

The Mining Company ESG Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Journal Intelligence Global Leadership Report 2024: Net Zero

Gain insights into decarbonisation trends and strategies from interviews with 20+ top mining executives and experts plus an industrywide survey.

editions

Mining Journal Intelligence Project Pipeline Handbook 2024

View our 50 top mining projects, handpicked using a unique, objective selection process from a database of 450+ global assets.

editions

MiningNews.net Research Report 2024

Access a multi-pronged tool to identify critical risks and opportunities in Australia’s mining industry.