The key projects within the Company’s Portfolio are Alahiné and Mansala, situated within Guinea's Siguiri Basin.
The Siguiri Basin occupies the north-eastern corner of Guinea and hosts several large active gold mining operations and is notable for its widespread gold anomalism. The Basin is broadly covered by exploration or exploitation tenure and there is little vacant land available for new exploration participants in the region. The region is considered prospective and relatively immature from an exploration perspective and produces over 500,000 oz of gold/year. The largest operation is the AngloGold Ashanti Siguiri Gold Mine, located 37km west of the Golden Guinea licences, which has now produced more than six (6) million ounces over its 20-year life.
Plot of Alahiné and Mansala licences superimposed on cadastre map confirms location data, ownership and licence validity. The licence details have been added. Artisanal Permit Areas in proximity to the Exploration Licences are shown as hatched areas. Pink coloured licences labelled AngloGold Ashanti near the Exploration Licences (cyan coloured) have significant mining and exploration activity. Exploration and resource definition in the AngloGold Ashanti licences provide a useful model for exploration in the region. (Source: Annexure B – Independent Geologist’s Report)