Guinea

Richly endowed with minerals, Guinea possesses over 25 billion tons of bauxite and likely up to one-half of the world’s reserves of bauxite, and more than 4 billion tons of high-grade iron ore, significant diamond and gold deposits, and quantities of uranium…

ZAMARAT MINING Guinea SA has developed a portfolio of significant assets to redevelop in Gold,  and Diamonds in the Republic of Guinea.



Mandiana GOLD MINE:

ZAMARAT MINING‘s Mandiana gold property is situated in the West African craton, an amalgam of Archean to late Proterozoic metamorphic and intrusive rocks.  The Birimian successions are host to most major gold deposits in West Africa, such as Ashanti in Ghana, Loulo, Morila, Sadiola and Tabakoto in Mali, Yaouré in Ivory Coast. Exploration works were conducted at the end of the 90′s by SEOGUI, a Guinean company. The mining permit was awarded in 2005 to Japan Mining, the previous owner. The report certified by Mc Ouat & Griffits, have estimated an alluvial gold reserve of 4.34 Million m3 of gravel with an average grade of 0.795 gr/m3, for a total of about 103,000 ounces of Gold. The Central area has a grade of 1.1 grams of Gold per m3 for 1.6 Million m3 of gravel. ZAMARAT MINING Guinea will finance a feasibility study in the second quarter of 2011, with the objective to start mining operations after the rain season and produce Gold during the 4th quarter of 2011.

ZAMARAT is actually under final negociations to acquire a very prospective exploration permit for Gold located in the Siguiri area, close to the Malian border.

DIAMONDS PROPERTIES:

Diamonds were discovered in Guinea in 1932 by R.Dermody, an Irish prospector, upstream on the River Makona (Macenta area), following the discoveries in Sierra Leone in 1930. The main diamond deposits are located in the prefectures of Kerouane, Kissidougou and Macenta, along the rivers Baoule, Milo and Diani. Other diamond discoveries were made to the West, notably West of Kindia, and more sporadically near Forecariah. The first kimberlite dyke in Guinea was discovered in 1952 in the Kerouane area. Later, other dykes were found in the prefectures of Kerouane, Kissidougou and Macenta.

In Guinea, Diamonds occur in both secondary (eluvial, alluvial in river beds and terraces) and primary (kimberlites) deposits. Diamonds are generally of good quality, with a clear predominance of gem-quality stones. Total diamond resources are currently estimated between 25 and 30 million carats but the potential remains open: kimberlites have not yet been completely recorded.

Artisanal and small-scale mining is the most productive exploitation mean in the sector (300,000 to 600,000 carats per year). It is concentrated mainly in the Banankoro area (Kérouané), on lands reserved by the Government in the vicinity of the former Aredor mine concession, and, more recently, in the prefecture of Kindia where it is no longer allowed.

ZAMARAT MINING owns a semi-industrial alluvial diamond mining license measuring 15 km² in extent situated in the Milo river Basin in the Kerouane prefecture. The license is valid until February 2015 and renewable for a further five-year period. In the same area, ZAMARAT has got 3 exploration permits measuring 151.6 km² in extent along the Milo River. Those permits were previously explored by Hymex International in 2005 and Mishelsen & Partners in 2008. The 2 flats – Banankoba and Kinieko – covered by the mining permits have a potential of 382,000 carats of diamonds, with a grade of 1.6 to 0.47 gr/m3 in the highest grade area. In 2011, ZAMARAT will update the feasibility study for the mining permit, and will start field work on the exploration permits.