Panthera holds an interest in the Kalaka and Bassala Projects in Mali though a JV established between IGL and Golden Spear Mining. The Kalaka Permit consists of a 62.5km² exploration tenement located about 260km SE of the capital, Bamako. The 27.4km² Bassala application is located approximately 200km south of Bamako. Both Kalaka and Bassala are located on the highly prospective Baoulé-Mossi Domain of the Man-Leo shield in the West African Craton. The craton is one of the world’s great gold provinces and the largest Paleoproterozoic gold-producing region. At both project locations, gold mineralisation is strongly associated with shearing and alteration. Both projects can be considered early stage exploration projects, although Kalaka is further advanced than Bassala.
Kalaka Project History
Originally covering 250km², the Kalaka area was progressively cut down as exploration permits were renewed to 25% of its original area, equating to 61.5km². On 11/12/2006, the Kalaka Permis de Recherche was transferred from AngloGold Limited (AGL) to Golden Spear Mining who have held the tenement since. AGL and Golden Spear Mining have completed soil sampling, geophysical surveys, and various types of drilling as tabulated below.
|Soil Geochemistry – AGL||9,149 Samples||Original Permit Area|
|Airborne Magnetic & Radiometric Survey (Sysmin) – AGL||Southern Mali||400m Line Spacing|
|Airborne Magnetic & Radiometric Survey (Bougouni) – AGL||South Mali, covering 4 Golden Spear Mining Permits||250m Line Spacing|
|Kalaka Airborne VTEM & Magnetic Survey (05/2008) – AGL||Covers Kalaka Permit||75m Line Spacing|
|RAB – AGL||350 Boreholes for 12,014 meters||Original Permit Area|
|RC – Golden Spear Mining||31 Boreholes for 3,796 meters||K1 & K2 Grids|
|Diamond Drilling – Golden Spear Mining||18 Boreholes for 3,753.28 meters||K1 & K2 Grids|
Just over 9,000 soil samples were collected over the Kalaka project on various grids ranging from 200m by 50m to 100m by 20m. Results range up to 7430 ppb Au and enable the definition of eight targets.
The Kalaka project is an early stage exploration project with strong indicators for economic scale gold mineralisation.
Kalaka Planned Exploration
Panthera is currently developing a phased and systematic exploration program to test the exploration targets identified and described above. The K1A and the untested K3B (southern artisanal working) areas are high priority targets where drilling is planned for 2018.
Kalaka – Large geochemical halo
- 260km SE of Bamako in South Mali and about 80km south of the Morila gold mine
- Previous RC & diamond drilling highlights identified a large, low-grade zone of mineralisation with multiple drill intersections exceeding 150m at the 0.5g/m Au level
- Initial exploration is aimed at:
- Detailed geophysics to support drill target definition
- Drill testing at K1A prospect
- Extend RAB drill coverage to test open targets along strike
- IP geophysical survey over the structural targets
- Better define, and drill, the extensive untested artisanal area in the south of the permit
Keys to its prospectivity are:
1. High potential that there is a shallow, primary gold source for the eluvial deposits
By definition, eluvial deposits rarely occur far from the primary source of gold. Three eluvial zones have been identified in the area to the north of the Kalaka village. Of further interest is the untested artisanal gold mining area in the south of the tenement (Figure 1).
2. Approximately 80% of the tenement basement consists of Birimian Greenstones
All known orogenic gold deposits in southern Mali are hosted in Birimian Greenstones. Although outcrop is very sparse, the predominant lithologies are granite and meta-sediment with minor intercalations of volcanic and volcano-sedimentary units.
3. The structural setting is conducive to structurally controlled gold deposits.
The Project is situated adjacent and to the east of the regional Banifin Shear Zone. Strike direction of the foliation is approximately north 40° with a dip of 60° to the northwest. Interpretation of magnetic and electro-magnetic survey data postulates that hydrothermal fluids passing along splay structures have reacted with sulphidic and graphitic schists causing sulphide or magnetic destruction (i.e. alteration). A similar reaction occurs between hydrothermal fluids and banded iron formations and graphitic shales in the Yilgarn gold fields of Western Australia.
Hydrothermal fluids are typically considered to be a medium for transport of gold in solution and gold may be deposited in locations where structural or chemical conditions are suitable. IGL have identified three of these structural targets indicated by low chargeability and low magnetism that are untested with any surface geochemistry and drilling.
Bassala Project History
Geological mapping was initially conducted by Russian geologists who interpreted the regional structure as a northsouth trending synform comprised of a sedimentary sequence of greywackes and shales, constrained to the west and east by two large, granitic intrusions. The Bassala application area covers a part of the western edge of this syn-form.
Modern exploration (known to IGL) has taken place on the prospect by GSM from 2004 to 2007. Work has included soil sampling, limited trenching, geological mapping, and limited RAB drilling.
Bassala geological map showing lease application boundary, soil sampling, and significant RAB drilling results (IGL)
Soil sampling identified a number of anomalous zones in the area. Trenching over some of these anomalies identified that mineralisation is associated with quartz veins controlled by regional shearing. Subsequent RAB drilling identified mineralisation, with 10 holes recording samples with assays higher than 300ppb, with the highest being 4,520ppb and widths ranging from 3m to 9m.
The Bassala project is an early stage exploration project with good indications of gold mineralisation. The nearby producing gold mines Kodieran and Kalana occur within the same geological setting and the former is located along a structural trend that extends into the southern part of the project area.
Bassala Planned Exploration
Panthera has identified soil anomalism associated with old artisanal workings located in the southern part of the project area as part of its current review of historical information. These targets are within the structural corridor associated with the Kodieran Gold Mine.