Projects - Karbasso, Mali

Key points:

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

Location and History

The Licence area is located approximately 250km due south east of Bamako, the capital of Mali. Extensive exploration data by previous workers, including the United Nations Development Programme (“UNDP”), exists about the licence area, a significant amount of which is already in the public domain.

Licence

The Company signed a joint venture agreement to acquire a 90% interest in the 200km² Karbasso research licence in Mali from Kadiel Mining, a Malian Company.  If the licence is converted into an exploitation permit, Cluff Gold will remain with an 80% interest in the project.
The licence area is located approximately 250 km south-east of Bamako. Structural and geological studies have shown that the eastern side of the licence area is underlain by a major NNE trending structure, which also underlies the Syama gold mine licence some 20km to the south. Gold-in-soil anomalies identified by the UNDP appears to be coincident with this major structure, which also appears to host the five million ounce Syama gold deposit held by Resolute Mining Ltd along strike to the south.

Exploration

The Company has set up a office in Bamako, the capital of Mali, and an exploration camp has been established at the licence area. Field work commenced in the first quarter of 2007, following the successful evaluation of available geological data compiled by the previous workers.

Last updated: 2008/07/05 01:41:44 PM