The intercept of 21m at 13.5 grams per tonne gold from 110m was recorded in an RC hole testing an aircore anomaly extending from the K3 prospect.

K3 is part of a group of targets close to the N'Tiola, Viper and Koting satellite deposits that Firefinch aims to mine to augment mill feed from the Morila Superpit its set to develop.

"The discovery at K3 highlights that previous regional exploration by the previous owners of the Morila tenure, and indeed by Firefinch on its tenure, is far from conclusive," the ASX-listed company said.

"Similar terrains in West Africa have been successfully explored by systematic aircore drilling … (that) has not yet been completed at Morila and Massigui."

Firefinch pointed out it had 685sq.km of tenure in which "to find another goldfield beyond Morila".

Firefinch is currently producing gold from tailings re-treatment at Morila, and aims to reach a run-rate of 150,000-200,000 ounces next year when it recommences mining from the main pit.

Shares in Firefinch were up 10% to 39.5c in early trade, capitalising the company at $309 million.