Parallel Mining Overview
Parallel Mining is focused on the development of high value, high potential advanced gold exploration projects in West Africa.
The Garsay Gold Project encompasses a total area of 165 square kilometers. This project is proximal to Avocet Mining’s 4.6 million ounce Inata Gold Project and just 220 kilometers northeast of the capital city Ouagadougou, in Burkina Faso, West Africa.
The 100.08-square kilometre Sebe Gold Project is located between the producing gold deposits Houndé and South Houndé operated by Endeavour Mining and Acacia Mining respectively. Parallel holds the right to earn a 100% interest in this property in the Houndé Greenstone Belt.
The positive initial results from Sebe and the numerous high-grade gold intercepts recorded at Garsay give Parallel Mining a strong portfolio in Burkina Faso.
Map of Burkina Faso Showing Gold Mining and Exploration Property Locations
The Garsay Gold Exploration Project
In 2010 the Garsay property was optioned by a subsidiary of Newmont Mining Corporation, which undertook a systematic exploration program, which included ground geochemistry, geophysical surveys and trenching. The exploration was highly successful, as it identified a gold anomaly which could be traced over 1500 meters north to south and 500 meters east-west, and supplemented by 1467 meters of Air Core drilling, 9407 meters of Reverse circulation drilling and 1508 meters of diamond drilling (view results table here).
A 2015 Rotary Air Blast Drilling campaign – consisting of 1062 meters over 17 holes – to test near surface strike extensions of mineralized zones identified by Newmont with significant results (view results table here). The RAB program demonstrated that the mineralized structures identified by Newmont do extend along strike, with the potential for other parallel structures also existing.
Based on the 43-101 report produced by Vancouver geologist Warren Rob, along with his review of the existing exploration data and a visit to the property, it is his professional opinion that “the Garsay Exploration Permit constitutes a property of merit and should be further investigated to define the economic viability of the gold occurrences identified on them to date”.
The Sebe Gold Project
Located between Endeavour Mining’s Houndé Project and Acacia Mining’s South Houndé deposit, the Sebe Gold Project is in the Houndé Belt in southwestern Burkina Faso. The Houndé Belt is considered a world-class, highly prospective region for gold mineralisation. . Parallel Mining is the first company to conduct commercial exploration on the Sebe Permit, and greenfield opportunities in this prolific belt are highly sought after. Recent discoveries in this belt including Sarama/Acacia’s South Houndé Project, Roxgold’s Yaramoko mine, Endeavour’s Houndé deposit, and Semafo’s Mana mine confirm the potential of the belt to host multiple types and styles of gold deposits.
Artisanal mining is active on the Sebe Gold Project and covers a strike length of over 500 metres. Historical information indicated that samples taken at the bottom of artisanal mine shafts assayed between 3.0 and 6.6 grams per tonne (“gpt”) gold in seven of the nine shafts tested. Eight surface grab samples taken in the vicinity of these shafts assayed between 2.9 and 7.8 gpt gold.
Advancing Parallel Mining’s Two Gold Projects
To advance the two projects, Parallel Mining has assembled a group of resource sector and mining professionals to take the properties to the next stage of advanced exploration. The Parallel Mining team is lead by John Anderson, an experienced junior exploration expert who has been instrumental in founding and leading a number of resource companies, including Northern Freegold; American Eagle Energy; Huakan International, International Minerals, International Tungsten and Bema Gold. Parallel’s strong team of exploration and mining professionals, have over 100 years of collective experience in the resource sector and includes: Stephen J. Wilkinson, B.Sc., M.Sc. Geology; Robert Sibthorpe, B.Sc (Geol), MBA, Vice President, Exploration; and Nestor Kinane, M.Geo, Project Geologist and Burkina Faso Country Manager.