Guinea
Guinea – Africa’s New Gold Rush
-
- Guinea is a West African country with a focus on mining
- Mining makes up 26% of GDP and 95% of export earnings
- Contributes ~6% of West African gold production
- World’s 2nd largest producer of bauxite
- Historically underexplored for gold, with limited use of modern exploration techniques
- Guinea population is exceptionally resilient and through multiple coups, has rebelled against autocratic rule to maintain independence
- Achieved independence from France in 1958
- In 2010, after many decades of authoritarian rule, Guinea held its first democratic election
- In March 2021, a US State Department report was critical of the government in terms of Human Rights Abuses, and the recent re-election of Alpha Conde as President despite disputed results
- In September 2021, a coup resulted in military control of Guinea given populist support to move back to democratic rule
- In October 2022, Guinea’s ruling junta agreed to restore civilian rule within 2 years
- Guinea is a West African country with a focus on mining
Guinea – increased regional investment by multi-national companies
SIGUIRI BASIN – AN ACTIVE AREA ALONG THE WEST AFRICAN SHIELD
The Siguiri Basin is a historical and prolific mining jurisdiction yet remains significantly underexplored compared to other gold regions of Africa. It is host to the world class 210k AuOz/yr Siguiri Mine “SAG” (AngloGold Ashanti) and 200k AuOz/yr Lefa Mine (Nordgold).
The area has witnessed a significant boost in activity in recent years, with increases in both M&A activity and exploration budgets being observed. New discoveries including those by Predictive Discovery, Golden Rim, and Hummingbird outline the prospective nature of the region.
Siguiri Gold’s project is located along strike and on the same structure as SAG and all mineralisation in the basin is within nearly identical host rocks and structural setting. Early exploration results have identified analogous mineralisation to both SAG and Lefa.
CONTINUOUS STREAM OF GOLD DISCOVERIES
| June 2010 | IAMGOLD grassroots discovery at Karita with near-surface intercept of 21m grading 9.0 g/t Au |
| April 2020 | Predictive Discovery exceptional grassroots discovery at the Bankan Project with 46m at 6.6 g/t |
| August 2021 | Siguiri Gold makes maiden discovery after 20k meter program |
| September 2021 | Predictive Discovery releases initial Bankan resource of 3.6mm AuOz |