Projects - List of Projects

Site Locations 1. Sierra Leone 2. Côte d’Ivoire 3. Burkina Faso 4. Mali

Baomahun, Sierra Leone

Key points:

• Conditional agreement reached to buy remaining 40% stake at Baomahun, which would increase ownership to 100%
• Over 25,000m of core drilling planned this year
• 1,160,000 ounce resource established (JORC)
• Soil sampling and geophysics point to significant potential along strike
• Exploration currently underway, targeting existing and new areas
• Work underway to upgrade Baomahun Scoping Study into a pre-feasibility study
• Environmental baseline study completed

The Baomahun deposit is located about 180km east of the capital, Freetown, in the Southern Province of Sierra Leone. The geological setting is similar to the Lake Victoria goldfields in Tanzania.

 

 

 

Angovia Project, Mt. Yaoure, Côte d’Ivoire

Key points:

• First gold pour on 14th March 2008 marked the end of the commissioning phase 
• Projected annualised gold production 40,000 ounces
• Potential for 800,000 ounces of both oxides and sulphides
• 495,000 ounces JORC-compliant resource estimated

 

The Mt. Yaoure permit is located 40km northwest of Yamoussoukro, the political capital of Cote d'Ivoire, and covers a surface area of 417km² including a 50 km² mining permit.  The licence area includes the Angovia Gold Mine which operated between 1998 and 2003.  The mine reportedly produced over 180,000 ounces of gold during this period by heap leaching some 2 million tonnes of oxide material. The infrastructure in the area is good and includes a hydroelectric dam six kilometres from the Angovia mine site.

 

 

 

Kalsaka, Burkina Faso

Key Points

• Construction on schedule to commence production in H2, 2008
• Projected annualised gold production 60,000 ounces 
• Resource of 13.7mt at 1.4g/t = 790,000 ounces
• Reserve of 5.1mt at 1.8g/t = 323,000 ounces (at US $525 per ounce)
• Independent assessment of potential to host a resource at least equal to that already defined (SRK Consultants)
• Potential to create mining district

The project is located approximately 150km north west of Ouagadougou, the capital of Burkina Faso, and contains an oxide gold mineral resource that has already been demonstrated, by a feasibility study, to be technically amenable to open-pit mining and processing via heap leaching.

Downloads:

• Kalsaka Feasibility Study (prepared by SRK Consulting)
• Kalsaka Technical Due Diligence Review (Prepared by L.R. Kilpatrick Associates INC).

 

 

 

Karbasso, Mali

Key points:

• JV signed in September 2005
• Southern Mali, 20km along strike of Resolute’s Syama Mine (5 million ounces)
• Favourable geological setting
• Supporting gold-in-soil data

The Company signed a Joint Venture Agreement to acquire a majority interest in the 200km2 Karbasso research licence in Mali from Kadiel Mining (‘’KM’’), a Malian company. The transaction is subject to approval by the Malian Government under the country’s mining laws.

Last updated: 2008/07/05 01:33:43 PM