Tyegana 1 Permit
The first soil sampling program was completed in December 2011 and results received in late January 2012. A broad mineralised zone over 1.2km was identified and remained open in all directions. A follow up, step out program was completed in February and results are pending.
The zone of artisanal workings, mostly developed on approx. 10 - 20cm thick quartz - sulphide veins, is hosted by intensely sericite altered metasediments. The quartz veins are foliation parallel and near vertical. The artisanal workings extend east - west for approximately 400m and cover a zone approximately 300 metres wide.
When Credo first visited the site in October 2011 there were no artisanal miners working the area, currently there are approximately 300 artisanal miners working at the site, with excavation extending to 20 - 30m depth.
Prospect B is a very recent addition to future targets at Tyegana 1. In excess of 1,000 artisanal miners are on site at Prospect B with mining commencing in approximately April. Soil Sampling has been undertaken and the Prospect will be ranked for drilling in the next field season (commencing November 2012).
In addition to Prospect B, West Africa Resources recently released the results of SDH001 at their Sartenga Prospect. The drill hole intersected 72.8m @ 1.08g/tAu and 0.48%Cu from 6m downhole. The drill hole is approximately 1km from the Tyegana 1 permit southern boundary and initial interpretative field work in the area suggests the shear zone is a NE-SW structure which continues into Tyegana 1.
Drilling Prospect A
The Company has recently completed drilling 24 RC drill holes for a total of 2,303m to test for mineralisation at Prospect A.
Assay results are expected to be available during the month of July 2012.