Monday, July 22, 2019

Gold Mining in Sudan - terra incognita

Despite its political instability, Sudan and South Sudan’s geology hosts high quality gold deposits.

The Blue Nile and the White Nile join forces at Khartoum. It slowly makes its way through the ancient Kingdom of Kush, before releasing Sahara sediment into the Mediterranean. From the confluence at Khartoum, the river is known as the Nile.
The gold deposits in Sudan look impressive; however, the issue will always be about risk. The fact not enough modern exploration has been undertaken in Sudan, and specifically South Sudan, is why the area is attractive.

South Sudan is considered terra incognita with regard to its economic geology, and infrastructure doesn't exist. A high risk region like Sudan demands a significant premium with higher returns and a shorter investment period.
Despite Sudan’s potential, there is an absence of large exploration projects and operating mining companies. Apart from small and artisanal mining in the south, no other mines are operating in the region. In the north, closer to Khartoum, the government owned Ariab Mining Company (AMC) has been operating the Derudeb and Hassai mines for more than two decades.

Sudan is not only blessed with gold. Beryl is found in the pegmatite of the Bayuda desert in central Sudan and chromite occurs in the Ingessana Hills. Copper with grades of 4.1% was mined 200 years ago in the Hofrat En Nahas deposit, while iron (Fe) deposits are located in the area of Jebel Abu Tulu.
Two years ago over 100,000 people fled a battle over a gold mine between two Arab communities in Sudan's Darfur region. The fighting broke out in the Jebel Amir gold mining area.

The fight was between the Beni Hussein, who are largely cattle herders, and the northern Rizeigat, a powerful tribe known for its camel herding. Scores of people were killed and dozens of villages burned. Members of the Beni Hussein tribe accused government forces of helping the Rizeigat.
Sudan expects to produce 50 tonnes of gold this year, earning $2.5 billion. The country is seeking to offset the loss of most oil reserves when South Sudan became independent.

Sudan is boosting production of gold and other minerals to gain new sources of state income and of foreign currency needed to fund imports. Output of 50 tonnes could potentially make it Africa's third largest gold miner behind South Africa and Ghana, and push it into the top 15 producers globally.
Sudan is among Africa's poorest countries, but is sitting on top of perhaps the largest gold reserves in the continent, according to a recent survey by Arab League's Arab Industrial Development and Mining Organization (AIDMO).

Friday, July 19, 2019

K92 Mining Inc. - KNT.v

K92 Mining Inc. - KNT.v has commenced gold production from the Kora Gold Deposit (via mining at the Kora Northern Extension), which is part of the company’s Kainantu Gold Project located in the Eastern Highlands province of Papua New Guinea.
On July 17, 2019 the company released News

K92 Mining Inc. is pleased to announce that K92 and Barrick Gold Corporation, through its wholly-owned subsidiary, have entered into an amendment agreement amending the share sale agreement dated June 11, 2014. Under the amended terms, K92 will provide Barrick with a cash payment of US$12,500,000 within 60 days from the date of the Amendment Agreement, to eliminate the contingent payment arrangement under the terms of the Original Agreement which continued until March 6, 2025. ​

Tuesday, July 16, 2019

Kraken Robotics Inc. - PNG.v

Kraken Robotics Inc. - PNG.v is a marine technology company engaged in the design, development and marketing of advanced sonar and acoustic velocity sensors for Unmanned Underwater Vehicles used in military and commercial applications.
The company are innovators using Synthetic Aperture Sonar (SAS) - an underwater imaging technology that improves seabed surveys by providing ultra-high resolution imagery at superior coverage rates.

On June 28, 2019 the company released News

Kraken Robotics Inc. is pleased to announce that its wholly owned subsidiary, Kraken Robotic Systems Inc., has been conditionally approved by the Ocean Supercluster to move forward with its OceanVision™ project. OceanVision™ is a three-year, $20 million project focused on the development of new marine technologies and products to enable an underwater robotics data acquisition and data analytics as a service business. This will be a turnkey service solution for ultra-high definition seafloor imaging, mapping and analytics, including simultaneous acquisition of ocean environmental and marine habitat data.

Monday, July 15, 2019

Brixton Metals Corporation - BBB.v

Brixton Metals Corporation - BBB.v is advancing grass roots properties. The Thorn Gold-Copper-Silver Project is an early stage exploration opportunity located in the northern tip of the “Golden Triangle” of British Columbia, Canada.
On July 15, 2019 the company released News

Brixton Metals drills 554.70m of 1.97 G/T AuEq, including 135.96m of 1.35 G/T Au, 0.31% Cu, 133.62 G/T Ag

Brixton Metals Corporation is delighted to announce results from drill hole THN19-150 which was drilled to 829.06 metres depth at the Oban diatreme breccia pipe within the Camp Creek Copper Corridor. Structural mapping and soil-rock geochemistry at the Chivas Zone and re-logging of select core from the Glenfiddich zone were also conducted. The objective of the program was to test for porphyry mineralization at depth at the Oban Zone and to refine the two porphyry targets, Chivas and Camp Creek, for the next round of drilling.

Wednesday, July 10, 2019

Orvana Minerals Corp. - ORV.t

Orvana Minerals Corp. - ORV.t is a multi-mine gold-copper producer. Operations consist of the El Valle gold-copper-silver mines in northern Spain and the copper-gold-silver Don Mario Mine in Bolivia.
On July 9, 2019 the company released News

Orvana Minerals Corp. (TSX:ORV) is pleased to report that it has filed on SEDAR, the independent preliminary economic assessment report ("PEA") for the Taguas Mining Property located in San Juan Province, Argentina. The PEA was prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects and the key PEA inputs and highlights were previously disclosed in the Company's news release dated June 28, 2019.