From Mining Weekly.....always nice to see AIM mentioned in the...

From Mining Weekly.....always nice to see AIM mentioned in the media

Aim Resources granted Burkina Faso mining licence
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The government of Burkina Faso approved the mining exploitation licence for Aim Resources' Perkoa zinc project at Friday's Cabinet meeting, the company said on Monday.

This will spur ¡°rapid advancement¡± at the Perkoa site. Aim Resources completed an A$27,3-million capital raising last quarter for construction.

¡°Excavation work has continued on the boxcut for the decline development and contractors are now preparing to mobilise the site following the receipt of required exploitation permit issued by the government of Burkina Faso,¡± it reported.

Aim Resources is finalising the balance of the required funding package for the project and said it would announce an update in this regard shortly.

Perkoa, located in the Sanguie province, 120 km west of the capital Ouagadougou, has a Jorc-compliant ore reserve of 6,3-million tons at a mine head grade of 14,5% zinc, equating to 907 679 t of contained zinc metal.

The mine design consists of decline access to the orebody, ramping up to deliver 0,5-million tons a year of ore. A simple processing facility comprises a crushing circuit followed by dense-media separation, milling and flotation, resulting in the production of 130 000 t/y of relatively clean concentrate, grading 53% zinc over a 12 year mine life.

Letters of intent had been signed with three parties for the offtake of zinc concentrates with Xstrata Zinc, Votarantim Metais and Louis Dreyfus Commodities, Aim Resources said.

These three offtake partners would provide Perkoa with a secure, long-term market, attractive sales terms and flexibility in concentrate sales, the company added.