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Granting of Permits in Guinea
Granting of Permits in Guinea.
About this update from Savannah Resources Plc
[{"type":"text","content":"\n \nRNS Number : 9523I African Mining & Exploration PLC 23 June 2011 \n \n\n \n \nAfrican Mining and Exploration plc\n(\"AME\" or \"the Company\")\nGranting of Permits in Guinea\n \nAfrican Mining & Exploration plc (AIM: AME), the AIM listed mining company with exploration licences in Mali, West Africa, is pleased to announce that it has been granted three gold Reconnaissance Permits in Guinea. These permits provide AME with the exclusive right to search for gold and confirm prospectivity before the need to apply for a full Exploration Permit. Reconnaissance Permits are issued for three months and are renewable one time for an additional period of three months.\n \nTwo of the three permits are in the Siguiri region, and the third is in the Dinguiraye region. All three permits have been granted to AME's wholly-owned Malian subsidiary by the government of Guinea.\n \n\n http://www.rns-pdf.londonstockexchange.com/rns/9523I_-2011-6-22.pdf\n\n \nThe Siguiri region is the primary gold producing area in the Siguiri basin, and is home to AngloGold Ashanti's Siguiri mine (SAG) (5.5 moz*). Based on initial reconnaissance work by the Company's geologists AME's two permits in this region, Sonzani and Liélila, appear to be highly prospective, with signs of good structure and the presence of gold shown by artisanal mining on both permit areas.\n \nThe Sonzani permit covers a total area of 53 km2 and lies approximately 5 km from the main road linking Mali and Guinea, 17 km from the town of Siguiri and approximately 30 km from SAG. Regional geological mapping shows a significant granodiorite intrusion in the north of the permit on an east-north-east trending fault structure that continues through into the SAG permit area. The artisanal activity on the permit is concentrated in the central area where miners target quartz vein bearing saprolites.\n \nThe Liélila permit covers a total area of 50 km2 and lies on the banks of the River Niger. Part of the permit is a floodplain, however artisanal mining is targeting the quartz veins in saprolite and AME's initial reconnaissance showed signs of dolerite intrusions, which we believe is encouraging.\n \nA comprehensive soil geochemical programme for the two permits has now started.&nb...