PROJECTS AND EXPLORATION
EAM ENTERS JV
• Location: Ethiopia
• Phase: Exploration
• Resource: Gold
TSX-listed East Africa Metals (EAM) has closed the transaction
under which Tibet Huayu Mining (THM) has purchased 70% of
the company’s Adyabo project pursuant. According to Andrew
Lee Smith, president and CEO of EAM, the parties are working to
complete the formal registration of the transfer of East Africa’s
equity interest in its Ethiopian subsidiary pursuant to Ethiopian
laws and regulations.
Smith says that with the transaction closed, THM has the
right to initiate the design, construction and related works
at the Adyabo Project in accordance with the Joint Venture
(JV) contract entered into by the parties. THM will fi nance
100% of the capital costs and operate the mine development
programme and mining operations. Estimated capital costs for
construction at Mato Bula is USD54-million and for Da Tambuk,
USD34-million. Smith adds that EAM will retain the exploration
rights to all prospective mineralisation on its concession areas
outside of the current resource.
The original Adyabo project (Adi Dairo and West Shire
concessions) covers 195.5km 2 west of EAM's Harvest project and
is located in an underexplored part of the Arabian Nubian Shield
in Northern Ethiopia. EAM acquired its interest in the Adyabo
through its acquisition of Tigray Resources in 2014.
metal forecast by our block models and the metal we actually
recover from processing of the ore at both mines. In striving
for continuous improvement, we have updated our resource
models based on the outcomes of our stringent reconciliation
processes, in order to provide the best possible forecast of future
ounce production. The demonstrated predictive reliability of our
mineral resource and ore reserve models continues to provide a
sound basis on which to plan our future,” says Quartermaine.
"In this latest estimate, we have included an update of the
Yaouré (also in Côte d'Ivoire) open pit mineral resources based
on additional drilling information and updated the associated
ore reserve based on the outcome of the Front-End Engineering
Design (FEED) study. As a result, there are small increases in
both the Mineral Resource and Ore Reserve estimates and, more
importantly, there is a higher level of confi dence in forecast
production and costs. In addition, an initial estimate of the
underground mineral resource at Yaouré has been completed,
with follow up work to increase the resource further now being
implemented,” says Quartermaine.
PERMIT FOR MALI LITHIUM
• Location: Mali
• Phase: DFS
• Resource: Lithium
The Malian government has awarded Australian company Mali
Lithium a mining permit for its 100% owned Goulamina Lithium
project, therewith completing the fi nal regulatory hurdle for
the project.
The permit was granted under the 2012 Malian mining code and
covers the company’s entire Torokoro permit for the exploitation
of lithium for 30 years, renewable in intervals of 10 years until
depletion of the reserves within the permit area.
Goulamina is claimed to be the largest uncommitted hard rock
lithium mineral reserve in the world, with 31.2 million tonnes at
1.56% lithium oxide (Li2O) of probable reserves. According to
Mali Lithium MD Chris Evans, the project is on track to complete
the Defi nitive Feasibility Study (DFS) followed by a Final
Investment Decision in the second half of next year.
East Africa Metals’ exploration areas in Ethiopia.
UPDATES AT EDIKAN AND
SISSINGUÉ
• Location: Ghana and Côte d'Ivoire
• Phase: Production
• Resource: Gold
According to Perseus MD and CEO Jeff Quartermaine, the mineral
resource modelling at both Edikan and Sissingué has proven
to be robust. “There is close reconciliation between contained
www. africanmining.co.za
African Mining Publication
Australian-based Perseus mining has completed a reconciliation
programme to update the resource models at its Edikan mine in
Ghana and its Sissingué operation in Côte d'Ivoire.
Mali Lithium MD, Chris Evans.
African Mining
African Mining November 2019
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