(MENAFN- ProactiveInvestors)Algold Resources (CVE:ALG) shares rose on Tuesday after the company provided early results from its recent and ongoing exploration programmes on both the Kneivissat and Legouessi Projects finding high grade gold. Analysis confirmed the presence of sulphide-bearing quartz as well as concentrated mineralisation in the south-western part of the Legouessi LC prospect where rock chip samples of 3.14 g/t Au were recovered from a trench on a northwest-trending quartz vein. In the fourth quarter 2015 Algold completed a 72 line-km IP geophysical survey as well as a 75 line-km ground magnetic survey over its Legouessi and Kneivissat properties. Subsequently the company performed a geological mapping and sampling program which was completed in January. Early results continue to exceed expectations and corroborate previous positive results confirming the potential of a high-grade gold system in the northwest corner of the LC prospect. Additionally new rock chip assays results include 26.1 g/t Au and 25.8 g/t Au recovered within the same zone in an area 120 meters to the northeast of LC. An additional 12.15 g/t Au rock chip sample was uncovered 30 meters on strike. These high-grade gold values are located at the apex of a large sigmoid at the southwest corner of the large chargeability anomaly mapped by IP. Algold shares closed 12% at C$9. Earlier the stock scaled C$12 a 50% advance.
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