Bassari Resources (BSR)

Shares / Stock Code

BSR

Stock Exchange / Sharemarket

Australian Securities Exchange

Bassari Resources (BSR) is an Australian publicly listed company focused on mineral discoveries, predominantly gold, in the West African country of Senegal. They have selected Senegal primarily for what they believe is the great potential of its under explored Birimian greenstone gold belt which overlays into the bordering countries of Mali and Guinea. The Bassari permits adjoin each other and cover a large area of over 1,300 km2, located in the Birimian belt. The permits are centrally located, and in close proximity to recent discoveries of major gold deposits, including Sadiola (8.6 million oz), Loulo (11.35 million oz), Yatela (1.38 million oz) and Sabodala (2.74 million oz). In addition to these proven deposits other major exploration companies such as Oromin Explorations Ltd (a Canadian listed miner), Randgold Inc. and Etruscan Resources Inc. have recently reported gold discoveries in permit areas immediately to the North and East of the Bassari permits areas.

Significant exploration funds have been expended on our 3 gold permits (Moura, Sambarabougou, and Bounsankoba) by previous exploration groups, such as the United Nations, the French Government (BRGM) and a number of private exploration companies and by Bassari Resources Senegal S.A.R.L. (a fully owned subsidiary of Bassari Resources Limited). The Bassari subsidiary has expended in excess of $1.6 million on exploration of the permits in the 20 months prior to the ASX listing in confirming the previous exploration results and further exploring these permits. This program has been successful and numerous gold anomalies and hard rock gold drilling targets have been discovered.

In 2008, Bassari’s primary objective will be to further progress exploration and resource definition within the permit areas in order to identify mineral (primarily gold) deposits. The funds raised from the recent listing are being primarily used for drilling of hard rock anomalies and sampling and proving up of the grade and extent of the alluvial gold fields to warrant a detailed feasibility study on the economics of commencing alluvial production. The Bassari executive and consulting team has a wealth of experience and success working in Senegal and West Africa.

Bassari Resources (BSR) Products and Services

  • Mineral discoveries in the West African country of Senegal

Bassari Resources (BSR) Locations and Subsidiaries

Bassari Resources Head Office
Level 17, 500 Collins Street,
MELBOURNE, VIC, AUSTRALIA, 3000
Phone: 61 3 9614 0600
Fax: 61 3 9614 0550

Bassari Resources (BSR) Share Price

Submitted by ASX Listed Company on 22 May, 2010 - 03:32

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