Morning guys , apologies if I don't quite get this right , there are a few more Gold Leases than i thought we had ! Not a bad problem !
MANIEMA GOLD PROJECT
The Licenses contain five main prospects; Kabotshome, Mbutu, Mitunda, Mbala and Tubambo
The Project comprises seven granted exploitation licences: PR4792, PR4801, PR4803, PR4804, PR4805, PR4806 and PR4812 and which cover an area of over 500km2
The Kabotshome Project is the most advanced. Below Picture
Maiden Inferred JORC 2012 compliant Resource at the Kabotshome Gold Prospect of 6,966,000 tonnes at 1.9g/t Au for 421,000oz with a 20g/t Au top-cut
Current drilling of initial 4,000m drilling program, with the first 6 diamond holes part of an in-fill and extensional drilling program at the Kabotshome Gold Prospect
First results from drilling program expected to be received in first quarter of the 2018 calendar year
The Kibali South Gold Project
Existing inferred mineral resource of 28.1Mt at 1.63g/t gold for 1.47Mozs, quoted under the SAMREC code.
The Kibali South Gold Project is situated on two permit areas, Mining License PE13176 and Mining License PE11467, and is located immediately adjacent to the Kibali Gold Mine. It is surrounded by 10 Mining Licenses, that cover an area of 1,836km² and which are held by Kibali Goldmines, a joint venture between Randgold Resources Limited (“Randgold”)(45%), AngloGold Ashanti (“Anglo”)(45%) and SOKIMO (10%). The Kibali Gold Mine has total proved and probable reserves of 9.2Mozs and additional total resources of 17.4Mozs
Kibali Gold Mine, which is Africa’s largest gold mining operation
The Nizi Gold Project
Nizi Gold Project comprises several identified gold prospects including the Baluma Gold Oxide Project and King Leopold Gold Mine
Historical production of up to 1.45Mozs of gold reported to have been produced from the King Leopold Gold Mine during the 1900’s at grades reported to be approximately 30g/t
King Leopold Gold Mine
Historical records of production from the area are considered unreliable, however the existence of approx. 1.5Mt of gold tailings on the licenses, the Tarada Tailings, (which are currently the subject of retreatment and have been surveyed, drilled and assayed by SOKIMO) and ad hoc production reports of material being treated with approx. 30g/t head grade indicate production of up to 1.45Mozs may have been extracted during the period of operation of the King Leopold Gold Mine. ( Very important project in my opinion , if we get high grades in the tailings $$$ instant cash )
The Baluma Gold Oxide Project
The Baluma Gold Oxide Project, has been partially defined by SOKIMO through two SOKIMO auger and RAB drilling programs.
The Exploration Target for the Baluma Gold Oxide Project is 8.0 Mt to 10.5 Mt at a grade range of 0.8g/t to 3.1g/t for 206,000 oz to 1,047,000 oz (“Exploration Target”).
ADVANCED WORLD-CLASS MULTI-MILLION OUNCE ADIDI-KANGA GOLD MINE
The Adidi-Kanga Mine has an existing indicated and inferred mineral resource of 11.9Mt at 7.65g/t gold for 2.9 million ounces, quoted under the SAMREC code
: 173,276m of diamond and RC drilling
: Completed a Feasibility Study for the development
: Commenced initial mine construction activities
: Equipment on-site purchased at an estimated cost of US$70m
: Estimated 115 sea containers full of equipment
: Existing indicated / inferred mineral resource of 11.9Mt at 7.65g/t gold for 2.9 million ounces, quoted under the SAMREC code
: Additional areas of mineralisation defined by previous wider spaced drilling
: 3 year debt facility of US$10.0m to part fund acquisition costs and additional exploration and Feasibility Study costs
: Already permitted for development
: Environmental and Social Impact Assessments completed
: Financial guarantees in place with the appropriate regulatory and administrative bodies in the DRC.
: Over 3.5mill cash in bank ATM
: Execution of the new joint venture documentation remains on track to be completed in January 2018.
HOA on World-Class Multi-Million Ounce Adidi-Kanga Gold Mine https://hotcopper.com.au/posts/29822282/single
Ok I think thats it Lol , in short I think we now have 9 Gold Prospects /Leases
MANIEMA GOLD PROJECT , 5 leases , Infill Drilling due 1st quarter 2018 ADIDI-KANGA GOLD MINE , DD due January Kibali South Gold Project , DD due February Nizi Gold Project , 2 leases , DD due February
Again sorry if I did not get this quite correct , is was not my intention
VEC Price at posting:
3.7¢ Sentiment: Buy Disclosure: Held
