Amani Gold announced that it has signed a Memorandum of Understanding with Bon Génie N. Mining to acquire ten highly prospective gold Exploration Permits in the DRC through an 85.7% interest in BN Mining.
Image: A gold mineral. Photo: courtesy of carlos aguilar/Freeimages.com.
BN Mining has an option agreement with LA SOCIÉTÉ MINIÈRE DE KILO-MOTO SA (“SOKIMO”), over Exploration Permits, 11796, 11797, 11798, 11800, 11801, 11804, 11816, 11817, 11820 and 11832 (“Gada Gold Project”), located in north-east DRC within the Niangara, Dungu and Rungu Territories of the Haut Uele Province.
The board and management of Amani Gold view the Gada Gold Project as offering a significant material opportunity for value enhancement to the Company. Given the location, geology and scale of the tenement package, as well as the early stage scouting carried out across the project, it is clear that the package is highly prospective for large gold mineralisation. Local artisanal gold mining has been undertaken for many years within shallow pits of depth to generally less than 10m.
Amani intends to conduct a modern exploratory study and targeting program to determine potential target areas for systematic exploration work.
Amani Gold’s Technical Director; Mr Grant Thomas commented: “Subject to positive due diligence, the Gada Gold Project can be a great addition to Amani Gold. We know the geology, mineralisation and have proven at Giro, that we know how to explore and discover gold deposits in this part of the DRC. The acquisition of this package would see Amani as one of the major gold tenement holders in DRC in a proven gold producing region nearby to the 600,000oz per annum gold mine at Kibali.
We have our teams ready to start sampling and mapping at Gada. The year ahead will see Amani primarily drill deeper at Kebigada, and then complete follow-up exploration drill testing of several of the best prospects defined at Gada”.
The Gada Gold Project consists of 10 Exploration Permits namely 12392, 12394, 12395, 11796, 11797, 11798, 11800, 11802, 11816 and 11817 for a total of 3,159.71 square kilometres located in the north east of the Democratic Republic of Congo within the Naingara, Dungu and Rungu Territories of the Haute Uele Province with Isiro as the Provincial Capital.
The Gada Project lies approximately 100km to the west of Amani’s Giro Gold Project, 382km by road. The Gada Project can be accessed by air via an unpaved airstrip at Dungu 50km from the Gada Project. The Dungu airstrip is 3km in length and operated by MONUSCO (United Nations Organisation Stabilisation Mission in the Democratic Republic of Congo). Mobile network communication services with intermittent 3G/2G internet are available with field supplies such as food and fuel available at Dungu.
Source: Company Press Release