Permit / Convention

Project Caption

Permit/Convention

Permit awarded in the third biggest gold producing country in Africa: 60 tonnes/year. The licensed plot of 65 km² has a shape of a square and is situated:

• 240 km from Bamako to the South, towards Ivory Coast and Guinea;
• with a river on the spot with permanent water-supply;
• in a scarcely inhabited area;
• in an area where the neighbourhood includes three functioning gold mines, 100, 80 and 50 km respectively. Their cumulated production in 2015 was more than 13 tonnes.

The choice on the licensed plot: all previous studies on the territories conducted by the Soviet Union, France, Japan, UNDP (not yet for exploitation and business purposes!) arrived to the same conclusions: the territory is unique, covers 2 fragmentation lines with enormous potentialities.

Stages of licensing system

• Convention signed with the Government of Mali
• Research permit for 7 years, delivery of an exploitation license for 30 years in case of the discovery of industrially exploitable quantity of mineral resources.
• Research permit embraces a large scale of ores, especially gold, silver, platinoids, copper, lead, molybdenum, zinc, titanium, vanadium, zirconium, as well as rare earth metals, lithium, cobalt, nickel, etc.

Guarantees and safety for the license granted by the Malian authorities through

• Gold mining is a key export sector in Mali, with very high share in the GDP.
• Promulgation of the signed Convention in the official governmental bulletin.
• The fact that in case of the successful accomplishment of the geological research works (i.e. industrially exploitable quantity of precious metal resources will be proven), a joint exploitation company with the Government of Mali will to be established in which 10% of the shares are ceded to the Government, and a further 10% are optional.

The region’s very complex hydrographic network is of dendritic type. The southern area is crossed from South to the North by the Baoulé River (which takes its source in Ivory Coast), with a winding and meandering stream. Alongside the Baoulé flows the Banifing, a small perennial stream with a much smoother path, which empties in the Baoulé in the North at the foot of the hills.

Geology

From the point of view gold potential, the GGS’ perimeter is located in the gold district of Bougouni. This southern region of Mali is characterized by many mineralized showings:
• Gold and lead in training Birimian lithium, tin, tungsten, niobium and tantalum in pegmatites.
• Nickel, copper and platinum in the ultramafic rock.

The reinterpretation of geology under the Sysmin project indicates that the area of the permit is highlighted by volcano-sedimentary formations, predominantly detrital with a fine grained to coarse (fine metasediments average with intercalations of meta-volcanics, training related to those cashing Morila gold mineralization).

An examination of the morphology of entire area also shows that the lateritic plateaus are the watersheds of rivers along with what develops an intense gold digging. They can be sources of secondary gold.

Everything above, it is evident that the sector represents a great interest in the search for gold.