Hey Guys , I've rehashed one of my old post as best I can ! Its been such a long wait now , I kind of forgot how big VEC could be. And to be honest , I kind of forgot we had nine leases on the go
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
Maiden Gold Resource at Maniema Gold Project
https://hotcopper.com.au/posts/21936713/single
New Discovery at Maniema Gold Project
https://hotcopper.com.au/posts/27030165/single
Maniema Drilling Update and New Project Evaluation Update
https://hotcopper.com.au/posts/29078597/single
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 are now overdue !
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
The
$VEC team descending to the Nizi 4 Level Adit before an underground visit to Nizi Vein 1 at the historic King Leopold Gold Mine.
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Some of the historic workings at the King Leopold Gold Mine and view of the oxidised Nizi 1 Vein.
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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”).
Agreement with Sokimo on Multi-Million Ounce Gold Project
https://hotcopper.com.au/posts/29449964/single
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. 3.2 Million Ounce JORC 2012
:Verification process has resulted in an upgrade in the Mineral Resource Estimate to
15.0Mt @ 6.6g/t Au for 3.2Moz of contained gold, reported in line with JORC 2012
guidelines
:Updated JORC (2012) Mineral Resource Estimate includes 46% in indicated category
for 6.9Mt at 6.74g/t Au for 1.5Moz and 8.1Mt at 6.6g/t Au for 1.7Moz in inferred
category
https://hotcopper.com.au/posts/30816853/single
: 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.
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
ADIDI-KANGA GOLD MINE
Kibali South Gold Project
Nizi Gold Project , 2 leases
Due Diligence has been completed on all projects to the satisfaction of the company . But final signed documentation is well over Due !
Kibali South and Nizi Gold Projects Due Diligence Completed
https://hotcopper.com.au/posts/31336741/single
Due Diligence Period on Adidi-Kanga Acquisition Closed
https://hotcopper.com.au/posts/30310976/single
A few pics of whats on-site at Adidi-Kanga US$70 Million worth of gear just waiting to be used !
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https://twitter.com/VECResources
Some great video footage on the @VECResources twitter page
Ok , sorry about the long post , I tried my best to be accurate
VEC has so much to offer , we could easily become one of the biggest Gold plays of the decade if all goes to plan!
