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Komet Resources outlines gold discovery south of Guiro mine in Burkina Faso

Komet Resources Inc. posted initial sampling results from a new zone discovered 488 meters south of its Guiro mine in Burkina Faso.

The company identified five active gold panner's pits along a vein network covering at least 130 meters in length and 30 meters in width, parallel to the Guiro vein, it said March 29.

Sampling of gold panner's bags from fresh pit material returned grades ranging up to 36.42 g/t, while perpendicular channel sampling returned grades of up to 23.8 g/t of gold.

Komet is planning further exploration at the new zone in early April, using a diamond drill rig recently mobilized for Guiro.

The company announced an initial resource estimate for the Guiro deposit in April 2016, with measured and indicated resources containing 88,300 ounces and inferred resources containing 53,400 ounces.