Sylla Gold Corp. has entered into a definitive option agreement with Niaouleni Gold Inc. and Niaouleni Gold Mali SARL, pursuant to which the company has been granted an option to acquire an indirect 100% interest in one gold exploration permit located in the Republic of Mali. This follows the signing of a non-arm’s length, non-binding letter of intent for the same.
Exploration at Niaouleni
Past exploration at Niaouleni includes extensive reverse circulation (RC) and diamond drilling, which have identified several structural gold-bearing zones that appear to extend from the adjacent Kobada gold deposit.
Historical exploration and drilling results are currently being compiled into a digital database and will be interpreted for the purposes of designing a drilling program to further test these structural gold-bearing zones and possibly extend them further.
Covering a 9,400ha area, and accessible by a paved highway the Niaouleni area is one of the oldest artisanal workings in Mali, dating back to the fourteenth century. The project includes extensive artisanal mining activity within the interpreted extensions of gold-bearing structures. According to the agreement, Sylla has the option to acquire the project over a 36-month period by making cash payments to Niaouleni Gold in tranches and issuing Sylla Gold common shares to Niaouleni Gold.
