123enenThank you for the information...It appears that the...

123enen

Thank you for the information...

It appears that the original grant of exploration licence was to a Simbajamba Mines Ltd subsidiary..

See below extract from a merger document from around 2004... Simbajamba Ltd a Samoan based company,(seems an unusual choice, but they do have good legislation and privacy laws in their company and trust area).


Overview

Simbajamba Mines Ltd. was formed to engage in the business of metals exploration, primarily in Angola. As a result of its recent formation, it has not generated any revenues.

On January 22, 2004, a prospecting license was issued, by the Republic of Angola, in favor of "Sociedade Mineira Simba Jamba, LDA," a subsidiary of Simbajamba Mines Ltd., for exclusive mining rights in the area to carry out prospecting, survey and reconnaissance operations for metals exploration.



In an effort to determine the mining viability of the licensed area, SML retained the services of Eur. Ing. Dr. Michael H. Smith, FIMM, C. Eng. of Perthshire, Scotland. Dr. Smith is a qualified Economic Geologist with a record of practicing in the Mining Industry as well as recognition by the European Commission and the World Bank as an approved consultant. He currently practices as "Natural Resources Developments" and also acts as Senior Associate Consultant to CSA of Dublin, Ireland. He is a Fellow of the Institution of Metals, Materials and Mining, a member of the Irish Association of Economic Geology, a member of the Gemological Association, a Chartered Engineer and a Euro - Engineer.




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Dr. Smith's Report was based directly on his evaluation of the work programs and data generated to date, his personal experience of Angola and meetings with principals. He holds an extensive database on Angolan mining - colonial as well as post - colonial. He also visited the Ministry of Mines and Geology in Luanda and carried out a three-day reconnaissance study of the licence area during May 2004.



Dr. Smith concluded that the licence awarded to "Sociedade Mineira Simba Jamba Lda" is prospective for stratiform base - metals associated with the Lower Cretaceous basal Upper Cuvo Formation. He indicated that Copper is present as Bornite, Chalcocite, Chalcopyrite, and secondary Chrysocolla in sandstones, siltstones and conglomeratic sandstones.



In and around the licence, earlier investigations before 1971 identified various deposits including Cachoeiras de Binga (Cu), Novo Redondo (Cu) and Loeta (Zn). In 1971, the Angolan Geological Survey reported the results of their work at Cachoeiras de Binga where 7 million tonnes of ore grading 2% copper were identified (151,000 tonnes Cu). Subsequent work by the UNDP (Croese 1983) indicated that the area of mineralization and the potential for resources was considerably greater. (Inferred resource of 1.25 million tonnes of copper).



The licence is straddled by 125 kilometres of the strike length of the Basal Cretaceous and all must be considered prospective. Within the licence, copper reserves have been proved. Many occurrences of copper and base metals exist. The prospectivity of the licence merits a considerable effort on exploration with a high probability of economic success based on proven reserves. The existing proven reserves should be economic at today's copper prices and given the coastal location of the deposit. The potential for reserves addition in the adjacent areas will make the licence a very significant copper producer.



Plan of Operation.



The intended mining operation of SML is based upon the following:

The licence area is not an area of difficult access.

An operational base could be established at Sumbe where all normal services are available.

Field camps could be established in the work program areas. The area is covered with open bush, becoming denser on the ridges. In some areas, ground has been cleared for farming - usually mobile slash and burn cultivation of maize, plantain, cassava etc.. The area is traversed by the main coastal highway (north - south) and a few east - west tarmac roads. A network of bush tracks provides access into the interior.

The economic evaluation and development of the licence requires several key activities.




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Acquisition and validation of all data from within and around the licence;

Reduction of this data into a standard format, preferably with a GIS database modeling package;

Validation of the licence coordinates in relation to known mineral occurrences;

Remote - sensing studies - copper staining is visible at surface and studies of false colour and infra - red satellite imagery should give a broad indication of where the mineralised Upper Cuvo Formation outcrops;

Follow - up soil geochemistry with the use of mobile metal ion and vegetation Geochemical surveys, especially in the north extension area;

Geophysical surveys over geologically and geophysically defined targets using modern induced polarisation methods;

Drilling and trenching of the targets;

Recovery of a bulk sample from the known mineralised area with laboratory and metallurgical testing. Because Cachoeiras de Binga is drill proven, recovery of this sample could be undertaken early in the program, allowing an accurate economic view of any development proposals;

Calculation of the bulk and geometry of the reserves;

Design of mining program; and

Design of the metal extraction system.

It is envisaged that this will be an intensive (two year) program. The Company would deploy senior personnel and employ experienced consultants and contractors to work alongside carefully selected local geologists and geophysicists.



The work involves an early low - cost validation of the area and a remote sensing study to guide the detailed work programmes. A simple field camp would be set up and used as a base for the geochemistry and geophysics program. This would be followed by a major drilling and trenching program with processing and summarizing of all results being undertaken by a metallurgical and mining specialist.