Akoase Goldfields

Highlights of Project

• 17 gold targets already identified on the blocked out area of 16.23sqkm
• Work program in place to conduct further investigations
• Current in-house resource estimated of 16,533.19 ounces averaging 0.61g/t.
• Targeting over 500k ounces after drill works

About the Akoase Gold Project

In support of the Ghana Government's fight against illegal mining and the introduction of the Community Mining Scheme, Africa Exploration Minerals Group (AEMG), a Ghanaian registered company, has introduced new technology for mineral exploration and exploitation.

AEMG, together with their foreign partners, the Minerals Commission, and the Ghana Geological Survey, initiated an exploratory campaign to test satellite technology that can locate primary gold resources on the earth's surface. This technology has been tested in the Akoase Pilot Project.

Geological Setting

The project area is between latitude 6° 27' 30" and 6° 29' 45" and Longitude 0° 50' 30" and 0° 54' 29". The area is low-lying and drained by several streams including Gyade, Anyinam, Akoase, Gyariso, Jari and Abesu.

Local Geology

Rock exposure is limited, mainly found in drainage channels and on steeper slopes. The Banket and Kawere formations can be traced southwest of Akoase. Some granitoids are found northwest of the concession, while the concession itself is underlain by volcanic rocks.

Location

The project covers 16.23km² (77.3 blocks), approximately 125 km north-northwest of Accra in the northeastern part of the Ashanti gold belt. Major nearby mines include:

• Obuasi Mine (20m/oz)
• Tarkwa Mine (13.1 m/oz)
• Ayanfuri Perseus Mine (5 m/oz)
• Prestea Golden Star Resources (4.7 m/oz)
• Bogoso Golden Star Resources (1.35 m/oz)
• Goldfields Abosso Mine (2.5 m/oz)
• Konongo Owere Mine (0.9 m/oz)
• Newmont Akyem (8.0 m/oz)
• Akoase Goldfields (TBD)

Project Objectives

• Promote sustainable mining practices
• Support mining cooperatives
• Strengthen socio-economic capacity of mining communities
• Improve environmental conditions
• Promote gender equality in mining communities
• Assist small-scale miners to improve efficiency
• Ensure use of safe, appropriate technology
• Train miners on sustainable extraction
• Enforce laws reserving small-scale mining for Ghanaians
• Create District Mining Committees

Work Completed

• Used Nuclear Magnetic Resonance (NMR) to identify 17 gold targets
• Evaluated 10 targets through pitting under supervision
• Collected samples at 50cm intervals with good assay results
• Estimated resource of 771,815 tons of ore containing ~469,282.82 grams (16,533.19 ounces) of gold at 0.61g/ton average grade
• Identified 103 shallow veins and over 50 deep vein coordinates