The 250 km2 Karan gold project is situated in southern Mali, approximately 90 km from the Malian capital of Bamako. Situated close to the Niger River, the Karan permit has been host to significant artisanal mining activity in hard rock, eluvial and alluvial placers. Mineralised structures are associated with a major regional shear zone and the permit has the potential to host several deposits of various types of gold mineralisation. Work to date includes soil geochemistry, pitting, trenching and drilling, which have defined 8 large target areas, two of which are drill ready.
A Scoping Study for trial mining of alluvial gravels has been completed indicating that significant gold recovery could be achieved on the Karan permit which has the potential to advance exploration without recourse to the public markets.
Due to the expansive nature of the exploration project and the Company’s current focus on advancing nearer term production opportunities, the Board is inviting interested parties to discuss potential joint venture or partnership opportunities (for both hard rock exploration and potential alluvial production). A comprehensive database of previous exploration work is available, as well as advanced studies for the potential monetisation of the alluvial opportunity.
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