The Siguiri Permit acquired is located in south west of
the prefecture of Siguiri, north east of Guinea, West Africa.
The permit has an area of 103 sq. km. and is located approximately
50 kilometers to Siguiri town (some 50,000 inhabitants)
and 800 kilometers to the capital Conakry.
The permit is located on the northern rim of the Siguiri
sedimentary basin. This region has been extensively explored
over the past 50 years and most recently by Bassat and Dommanget
(1986), Millesi and Al (1989) also the geologists of SAG
Phil Davies and Smith in 1995.
The region is underlain by the fine grain sediments of lower
proterozoic in age and compromise a sequence of intercolated
grewackes, mudstones, shales, philites and sericite shistes
that are generally steep dipping and strinking N-S to N-E.
It is bounded to the north by Cambrian platform sediments,
to the south by a late Archean shear belt and to the east
by Eburnean granite.
Two dominant structural orientations are NNE and ENE, as
evidence from air photo, land satellite and aeromagnetic
interpretation. Quartz veining and late stage dolerite dykes
predominate in the NW and ENE orientation.
Geology
The company commissioned geologist, Hendrik Veldhuyzen
to complete a 43-101
( Competent Person’s ) report.
The field work was completed at the end of 2006. His 2007 report classified the Siguiri concession as a "Property of Merit" warranting further exploration for both alluvial gravels and for hard rock vein systems.
The greenstone belt of Guniea have had a long history of
placer gold mining and prospecting. These greenstone belts
are considered to be the remnants of ancient sedimentary
and volcanic rocks, which have been strongly metamorphosed.
Similar greenstone belts sequences around the world (for
example South Africa, Canada, Brazil, India, and Australia)
are commonly mineralized with gold, silver and hematite
iron ore. Major gold deposits in these worldwide greenstone
belt sequences are common.