Siguiri Gold Project
SIGUIRI GOLD IS TARGETING THE FUTURE PRODUCTION OF A BULK-TONNAGE, AT-SURFACE OPEN PIT MINING OPERATION.
- Extensive shallow Artisanal workings
- Simple metallurgy
- Easy recoveries
- Low strip ratio
- Easily processed material
The Siguiri Gold Project (SGP) is located within the prolific Birimian Greenstone belt which contains +300Moz Au and is host to several multi-million-ounce gold mines and projects.
The SGP covers 148km2 across three exploration permits (North, South and West) and work to date confirms the project lies on the same geological fault as AngloGold Ashanti’s 200,000oz/pa Siguiri Mine (SAG). Located near the town of Siguiri, in the eastern part of Guinea, the SGP borders the Tinkisso River and is close to the Niger River.
On site, Siguiri Gold’s purpose-built exploration camp has been established within the community of Bafingkoba, where both international and local employees are present 24 hours a day, 7 days a week, providing full operational support.
Siguiri Gold’s work to date has identified at least 4 mineralised corridors across the North and South permits. Based on aeromagnetic data, sampling and drilling, Siguiri Gold believes the mineralised lithologies typical of SAG could well be expected to be present on the West permit.
To date, at least 4 mineralised corridors have been identified across the north and south tenements with the NNE mineralised zones traced for ~12.8km. There is still over 30km of total strike length across the Permits to be tested, demonstrating significant potential for the discovery of further economic mineralisation.
Extensive shallow Artisanal workings cover much of the ~12.8km mineralised zones, demonstrating not only the simple metallurgy and easy recovery of mineralisation, but also the low strip ratio of easily processed material for a potential open pit mining operation.
Siguiri Gold’s intention is to deliver a maiden Mineral Resource Estimate (MRE) in Q1/H1 2025 following the completion of further drilling.
The Company is targeting the production of a bulk-tonnage, at-surface open pit mining operation. The Company is currently reviewing the development of an ore sampling plant at the SGP for metallurgical testwork purposes across different grades and types of mineralisation.
2021 Exploration Program
Siguiri Gold carried out a 20,000m drill program in 2021 which targeted near surface mineralisation below and around existing artisanal open pits. 200 holes were drilled to an average depth of ~100m and successfully confirmed the expected mineralisation within the target areas, delivering promising results:
- Near surface mineralisation exists within free digging material, at depths of beyond 100m, reducing operating costs and allowing for economic extraction at much lower grades
- Numerous holes, especially in the Kokoun and Mog zones, ended in mineralisation with some of the highest-grade assay results returned to date (including 15m at 5.8 g/t and 10m at 1.8 g/t)
A drone based magnetic survey was completed to help define structural domains and controls on the property. Major faults and magnetic domains were defined as well as identifying numerous felsic to intermediate intrusions throughout the property, the relationship of which with mineralisation is still being interpreted.
2022 Independent Geologists Report
In August 2022, Shango Solutions completed a detailed Geological Report over SGP concluding the significant prospectivity of the project and confirmed the following:
- At least 4 mineralised corridors identified across North and South Tenements
- NNE trending mineralised zones can be traced for ~12.8km
- Key SAG mineralisation types (Kami and Kosise) present on Siguiri Gold Tenements
- Based on aeromagnetic data, mineralised lithologies typical of SAG expected to be present on West Tenement
- ~10% of 2021 boreholes reported intersections above 20 mg/t
2022 Exploration Program
Siguiri Gold is currently carrying out a Geochemistry program across the three tenements – this program is anticipated to be complete by year end 2022.
The Company completed a drill program In August 2022, with further drilling to recommence early in 2023 in the dry season. Preliminary results received in November 2022 have significantly expanded two of the Company’s key prospects, Tamba and Kokoun.
This drill program was designed to infill the identified mineralisation at Tamba and Kokoun and has been successful in doing so. At Tamba, drilling has confirmed presence of high-grade zones within the larger ore zone remaining open to the north and at depth whilst at Kokoun, drilling has been confirmed to be open at depth and along strike.
When drilling recommences in early 2023, the target will be to extend the known mineralisation and test the deposits down to depths of 200-250m.
Initial drilling on the West claim will be planned based on Geochem results.
The Company aims to deliver a maiden resources in 2023.
2023 Exploration Program
Commencing in August 2022 and completed in May 2023, Siguiri Gold carried out a 15,076 sample termite and soil sampling program on the West Permit, designed to identify arsenic. The results identified long anomalous corridors which correspond well to the trends defined by artisanal workings and found mineralisation. From this program, Siguiri Gold has gleaned highlighted targets to focus future work programs on.
In November 2023, a shallow fence drilling program consisting of 9,984m was completed to test some of the anomalies identified on the West claim. Approximately 40% of the results are still pending the shipment of samples to the assay laboratory post completion of the IPO.
Proposed Future Work Programs
- 2024: Drill Results from near-resource testing and untested West Concession
- 2024: Deep drilling to test fresh rock
- 2024: Bulk Sample Results
- 2024-2026: Prefeasibility Study
- 2024-2026: Permitting Advancement
- 2025: Maiden Mineral Resource Estimate
- 2024-2026: Bankable Feasibility Study
Plan view of the Tamba mineralisation. Highlighted in red is the projected mineralised shear that remains open along strike and down-dip.
Siguiri Gold’s drilling to date at Tamba and Kokoun only extends an average of 80m vertically from surface, which leaves a significant amount of prospective open ground for further discovery. At Tamba, the drilled mineralisation extends for 900m and remains open for another 700m towards the Tinkisso river.
Key highlights from Tamba drilling to date includes:
- SG-22-202 – 84m @ 0.81 g/t Au, including 33m @ 1.38 g/t Au
- SG-22-206 – 85m @ 0.72 g/t Au, including 17m @ 1.32 g/t Au
Plan view of the Kokoun mineralisation. Highlighted in red is the projected mineralised shear that remains open along strike and down-dip.
At Kokoun, the drilled mineralisation extends for 900m and remains open along strike for several kilometres. It also remains open down-dip (+80m vertically and into the fresh host rock).
Key highlights from Kokoun include:
- PG-21-118 30m @ 3.27 g/t Au
- PG-21-119 64m @ 0.86 g/t Au, including 50m @ 0.95 g/t Au.
- SG-22-221 26m @ 0.92 g/t Au
- SG-22-222A 12m @ 1.68 g/t Au
- PG-21-197 19m @ 1.3 g/t Au
Siguiri Gold Project Overview
OWNERSHIP
- 100% owned by Peak Guinea, a wholly owned subsidiary of Siguiri Gold
GEOLOGY & MINERALISATION
- Orogenic, shear hosted gold deposit
- Stockwork of gold-bearing veins within weathered (laterite/saprolite) bedrock
- Gold within quartz veins and disseminated within laterite/saprolite
- NNE trending shears
HISTORY
- Previously owned by a Russian mining company
- Historically completed a drilling program; results are not available
- Peak Guinea acquired the Southern and Northern Tenements in 2017
- Peak Guinea acquired by Siguiri Gold in 2020
- Western Tenement (90km2) added in 2021
ARTISANAL MINING
- High-density of artisanal miners present throughout the entire property
- Open pit depths up to ~20m
- Grades up to 50 g/t Au mined from shear-hosted quartz veins