MONTREAL, May 11, 2017 /CNW Telbec/ - ALGOLD
RESOURCES LTD. (TSXV: ALG) (the "Corporation") announced today
that the company is not aware of any specific reason, other than
short-term fluctuations in commodity prices, that might be
contributing to the recent fluctuations in the company's share
price.
Francois Auclair, Algold CEO
stated: "We are continuing to build on the momentum from the
publication of our NI 43-101 report in early May 2017 and Phase III drilling results on our
flagship Tijirit Property in Mauritania, are starting to flow. With
approximately 60% of our Phase III drilling completed, the results
published to date represent less than 30% of the 25,000 meters of
Phase III. As of May 1st,
2017, Algold has sent to the SGS Bamako lab facility for analysis
6,594 samples (excluding QA/QC) from the Phase III drilling
program. To date, Algold has received 4,095 results, with assays
still pending for 1,963 RC and 536 DDH samples. Samples shipments
to the laboratory take place on a weekly basis, and Algold
anticipates releasing assays results as they become available in
the coming weeks. The Phase III drilling program is focused on
further increasing the resource base of the Tijirit Project.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
ABOUT ALGOLD
Algold Resources Ltd is focused on the
exploration and development of gold deposits in West Africa. The board of directors and
management team are seasoned resource industry professionals with
extensive experience in the exploration and development of
world-class gold projects in Africa.
FORWARD-LOOKING INFORMATION
This press release contains and refers to forward-looking
information based on current expectations. All other statements
other than statements of historical fact included in this release
are forward-looking statements (or forward-looking information).
The Corporation's plans involve various estimates and assumptions
and its business is subject to various risks and uncertainties. For
more details on these estimates, assumptions, risks and
uncertainties, see the Corporation's most recent Management
Discussion and Analysis on file with the Canadian provincial
securities regulatory authorities on SEDAR at www.sedar.com. These
forward-looking statements are made as of the date hereof and there
can be no assurance that such statements will prove to be accurate.
Forward-looking statements are subject to significant risks and
uncertainties, and actual results and future events could differ
materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking
statements that are included herein, except in accordance with
applicable securities laws.
SOURCE Algold Resources Ltd.