new exploration authorisations and the identification of

new areas for further applications. Preliminary

reconnaissance exploration has commenced with remote

sensing interpretations, field and regolith mapping

together with regional soil sampling programmes.

The company signed a second joint venture with OMRD

on the Diamou and Seriba-Sobara permits to the

northwest of Morila. Exploration to date has concentrated

on the integration of previous results and a generative

exercise which has resulted in the identification of 24

targets. Field work, which ranges from mapping and

lithosampling to soil geochemistry and pitting, has been

implemented over eleven of these targets providing

information to assist with the planning of a RAB drilling

programme to be executed in February 2006.

SENEGAL

The Senegal portfolio consists of four permits covering

1 326km

2

, within the Sabodala volcano-sedimentary

belt in the east of the country. The company has been

systematically evaluating a portfolio of 31 targets and

during the course of the year three of these were

subjected to reconnaissance drilling, five were advanced,

eight newly identified and seven rejected.

At Bambaraya, further work has identified a wide zone

of iron carbonate alteration associated with mineralisation

and new trenches 100 metres north and 150 metres

southwest of the main zone have intersected

significant mineralisation (BBTR04: six metres at

1.76g/t, four metres at 5.48g/t and 12 metres at 4.06g/t;

BBTR06: 12 metres at 2.34g/t).

Infill drilling at Sofia has increased knowledge of the

target. There is a variation in the mineralisation from

broad, low grade envelopes to narrow, high grade

intercepts along the 3 400 metre anomalous corridor.

At present, the interhole spacing is 400 metres and

between the best holes drilled in terms of results

(44 metres at 2g/t and six metres at 9.5g/t), there is a

combined strike of 1 600 metres untested. At Tombo,

a small low grade resource has been identified.

BURKINA FASO

In 2004 the company recommenced exploration in

Burkina Faso with two permits, Danfora and Kiaka.

During 2005, a new countrywide generative study was

completed. The results of this study revealed a major

north-northeast structure on the eastern side of the

country called the Markoye Shear, which continues into

Ghana and is highly prospective. This major structure

has associated northeast splays and six gold deposits/

advanced projects with an accumulated gold resource

of eight million ounces. Eight new permits covering

2 025km

2

consolidate the company’s land position over

the southern part of this fault system where there is

good infrastructure and water supplies. Early stage

reconnaissance work has started on these eight permits

with remote sensing interpretations, geological and

regolith traverses together with regional soil and stream

sediment sampling.

At Kiaka, the first permit awarded, a three hole

reconnaissance diamond drilling programme has been

completed along a two kilometre segment of an overall

4.5 kilometre northeast trending mineralised structure

within the permit. Results from the southern part indicate

a thin mineralised zone albeit with moderate to high

grades. To the north, where the zone is open along

strike, a broad zone with generally a lower tenor of

mineralisation has been outlined.

1 Randgold Resources has adopted a more aggressive policy

towards regional exploration.

2 The resource base at Loulo grew by 24% during the year.

Randgold Resources    Annual Report 2005 27