Amani eyeing “exceptional high-grade gold” at Gada Gold Project
Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.
In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.
The below articles were written under our previous business model. We have kept these articles online here for your reference.
Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.
Click Here to View Latest Articles
Exploration continues at Amani Gold Limited’s (ASX:ANL) Gada Gold Project in the Democratic Republic of Congo (DRC), where the company has now commenced a detailed soil sampling program.
The program will consist of 3,338 samples over Priority One area in Gada tenements PR11816 and PR11817. Stretched across this tenement package are artisanal gold workings with gold currently being extracted from shallow pits by local miners.
This type of detailed soil sampling has been a successful exploration technique that has detected several gold deposits in the Moto Greenstone Belt, including Amani’s Kebigada and Douze Match gold deposits at the Giro Gold Project.
The Gada Gold Project consists of six Exploration Permits totalling of 1,831 square kilometres, in the north east of the Democratic Republic of Congo within the Niangara, Dungu and Rungu Territories of the Haute Uele Province. It is located 80 kilometres east of Giro Gold Project and has similar geology and mineralisation styles.
Mineralisation is hosted in quartz veins and structures which are believed to be open at depth. Artisanal miners have mined quartz veins and associated structures at many places within the Gada Project area.
The artisanal miners typically mine high gold grades, but the miners have been unable to carry out mining below approximately 40m due to flooding and inability to dig through hard fresh rock.
Amani’s current program at Gada will consist of conventional soil sampling carried out on a nominal 200 X 100m grid for a planned total of 3,338 samples (62 Lines). The sampling will target gold mineralisation beneath thin surficial cover and the Arikazi, Mabanda, Mangbetu, Mbugo and Munguba artisanal pits.
Where mineralised outcrops are encountered during sampling, rock chip and stream sediment samples will also be collected. All samples will be sent to SGS Mwanza laboratory in Tanzania for multi-element assay.
Amani expect the priority soil sampling program to take up to two months to complete, with final multi-element laboratory assay results available shortly thereafter.
The company has completed a Memorandum of Understanding (MoU) with project owner SOKIMO to acquire the highly prospective Gada Gold Project, comprising six tenements in the DRC.
Amani’s Technical Director Mr Grant Thomas said, “Previous sampling of several known artisanal pits at Gada returned exceptional high-grade gold assay results. This soil program will cover most of these pits and is the start of systematic exploration of Gada. Detailed soil sampling has proven effective in locating gold deposits in this part of the DRC and we look forward to receiving and interpreting the assay results.”
Conventional diamond core and/or RC drilling will adequately determine depth extensions and widths of mineralised veins and structures within fresh rock.
Once the Priority One soil program has been completed reconnaissance soil sampling will be carried out over exploration tenements PR11816, PR11817 and PR11797 on a nominal 400 X 100m grid for a planned total of 22,904 samples and approximately and 92 drillholes.
General Information Only
S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.
Conflicts of Interest Notice
S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.
Publication Notice and Disclaimer
The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.
Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.
This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.
