AFRICA - GHANA
In April 2013, Merah has entered into separate agreements with Castle Minerals Limited (ASX:CDT) to acquire 100% of Castle's interest in the Antubia and Kong gold projects situated in Western Ghana.
THE ANTUBIA GOLD PROJECT
The Antubia Gold Project comprises of two contiguous prospecting licenses known as Antubia and Boizan, located approximately 370km west-northwest of Accra, with a combined area of 295km2. The Project lies within the Juabeso-Bia District of the Western Region. Access to the licenses is by sealed roads via the major centres of Kumasi, Bibiani, Wiawso and Sefwi Asafo.
A excised Small Scale Mining Lease, located in the north east of the Project area, covers the Antubia mine, one of the largest colonical gold mines in Ghana (having reportedly produced 18,690oz between 1912 and 1939) and is the focus of the ongoing artisanal mining.
The Antubia Gold Project area is located adjacent to the faulted western margin of the Sefwi gold belt, ~90km southwest of the 17.7Moz Ahafo gold mine operated by Newmont. Kinross Gold Corporation’s 2.4Moz Chirano Gold Mine and Noble Mineral Resources’ 2.8 Moz Bibiani Gold Mine are located on the eastern margin of the Sefwi gold belt.
The Sefwi gold belt is a broadly north east trending sequence of Palaeoproterozoic Birimian meta-volcanic and meta-sedimantary rocks and Dixcove suite granitoids. The project area is dominated by Birimian meta-volcanic and meta-sedimentary rocks with Dixcove suite granitoids to the west and north east. A fairly uniform regolith profile is observed at Antubia, generally including a veneer of transported gravel or soil, overlying a residual sequence of indurated laterite, mottled clays and saprolite. A significant north-northeast striking regional fault occurs just to the west of the project area. Numerous subsidiary east-northeast striking faults appear to have a strong control on the location of historical gold workings and the identified gold soil anomalies.
The Antubia Gold Project currently contains three main target areas:
- Boizan - situated in the north of the Boizan Licence and consists of a high tenor +3.5 km long by 0.5 – 1.0 km wide gold in soil anomaly defined by the +40 ppb Au in soil contour (and including +1.0g/t Au in soil) which contains the Boizan and Sumiakrom prospects;
- Edukrom - situated in the south west of the project area and consists of a +1.5 km long gold in soil anomaly adjacent to the north east trending contact between Birimian meta-sedimantary rocks and Dixcove suite granitoids.
- Antubia East – situated in the central east of the Antubia licence and contains the Antubia, Juabesco and Afere prospects to the north east and south west of the excised Antubia Small Scale Mining Lease. The Antubia and Juabesco prospects are interpreted to be extensions of the Antubia mine trend currently being exploited by artisanal miners.
Initial exploration activity is expected to focus on the Boizan target area, with an airborne geophysical survey proposed to assist in the definition of the black shale rich marker horizon and structural complexities within this very large high tenor gold in soil anomaly. Data from this survey will assist in planning RC drilling designed to both follow up gold mineralisation defined from previous drilling as well as test new target zones within the broad geochemical anomaly. Additional geochemical sampling and geological mapping is expected to be undertaken across the Edukrom and Antubia East target areas to define targets for initial RC drill testing.
KONG GOLD PROJECT
The Kong Gold Project consists of 8 Prospecting Licence applications for which the registered applicant is Carlie, a wholly owned subsidiary of Castle. The Ghanaian Government can require a 10% free-carried interest in the Kong Gold Project.
The Kong Gold Project is located over an area of 1,200 km2 within the highly prospective and under-explored NW of Ghana. Access to the tenements is by sealed roads via the townships of Bole, Sawla and Tuna.
The Kong Gold Project covers +50 strike km of contact zones between Birimian greenstones, Birimian sediments and later stage granitoids. These are interpreted to be structural and not stratigraphic contacts and provide an optimal geological and structural setting for gold prospectivity. The erosional level of the NW of Ghana results in extensive exposures of intercalated fertile Birimian greenstones and Birimian sediments with limited post-mineralisation cover.
The Kong Gold Project covers +50 km strike of the northwestern and central portion of the Bole Bolgatanga greenstone belt before it significantly attenuates further to the northeast.
The Bole Bolgatanga greenstone sequence is controlled by the regional Bole Bolgatanga fault that passes through the northern part of Ghana and then into Burkina Faso, where it hosts the +1.0 MozAu Youga gold deposit. The southern portion of the Kong Gold Project area is adjacent to the confluence of the Bole Bolgatanga greenstone belt and the Wa Lawra greenstone belt, which extends northwards where it hosts the +1.0 Moz Kunche – Bekpong gold deposit. There are extensive contact zones, interpreted to be structural and not stratigraphic, between the Birimian greenstones, Birimian sediments and later-stage granitoids within the Kong Gold Project area, providing an optimal geological and structural setting.
Initial exploration is expected to focus on detailed geological mapping and infill geochemical sampling of the identified anomalous trends combined with systematic geological mapping and selective geochemical sampling to identify areas of interest in the broader project area. Defined areas of interest would then be subjected to more detailed geochemical sampling to define anomalous gold target zones for subsequent drill testing.
Ghana is well endowed with gold resources and while it is the second largest African gold producer after South Africa, it remains an under explored exploration jurisdiction. Ghana contains multiple world class gold deposits, ranging in size from 2.0 to 20 Moz Au, and also hosts the giant Obuasi deposit containing over 40 Moz Au.