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Okolom Gold Mine Olukunle Amoo BestKamco Resources, Toronto, Canada.

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Presentation on theme: "Okolom Gold Mine Olukunle Amoo BestKamco Resources, Toronto, Canada."— Presentation transcript:

1 Okolom Gold Mine Olukunle Amoo BestKamco Resources, Toronto, Canada

2 General Description The mine is one of the richest known deposit in Nigeria with a recorded mining grade of 30g/ton Assay results of up to 36g/ton were recorded for chip samples from Okolom Extensive lenses and veins of quartz in faults and shear zone were found Geophysical investigation identified a main quartz vein of approximately 2.8km. Two major sub parallel suspected veins of about 800m and 1.5km were delineated It compares with the pinch and swell structures found in California

3 Location Okolom/Isanlu, Yagba East local Government, Kogi, Nigeria. Between Latitude 8 15 and 8 30 N and longitude 6 25 and 6 55 E

4 Structural Map showing Okolom Prospects

5 Okolom Prospect – Upper and Lower q – Vein quartz a – Amphibolite ts –Talc schist bG – Biotite Gneiss UOP – Upper Okolom Prospect LOP – Lower Okolom Prospect

6 Property Owners DAMCO Nigeria Ltd and Nigerian Mining Corporation

7 Project Status Reconnaisance scale mapping of the area including stream sediment sampling and panning (1: 50,000) Semi detailed mapping and sampling of Okolom/Dogon Daji veins outcrops Detailed mapping of veins (1: 2,000) and orientation soil sampling Scout drilling of 10 boreholes to a cumulative depth of 339 meters

8 Infrasructure Fairly accessible by untarred road at 23 km north from Isanlu which is connected to the national electricity grid Water would be available all year round through the ponding of the Okolom river Telephone facilities available

9 Exploration Results Gold values in quartz veins are variable along strike from 0.1 to 36g/t Au in Okolom Gold values also vary in weathered gneiss (up to 12.96g/t Au) Five of the directional drilled holes showed mineralization at between 13.6m and 19.73m vertical depth

10 Exploration Expenditure More than $0.8 million dollars up to date Financial engagement as well as joint venture agreement to be determined with Prospective Investors

11 Potential The potential of the Okolom Gold Deposit is estimated at 2 Moz of Gold.

12 Preliminary Operation Target Exploration work until end of 2006 Feasibility study 2007 Construction 2008 Production start Up 2009 MINING - Underground OPERATION - 1,000 mt/d mining capacity PROCESSING - Cyanide Leaching, recovery +90 %

13 Contact For further information, Please contact Olukunle Amoo Bestkamco Resources Toronto Canada 416 301 6815 kunle222@mail.ciom www.bestkamco.com

14 Preliminary Estimation of Economic Viability (scenario for a 0.75 Moz deposit (pessimistic approach) ) Initial Costs (Exploration, Feasibility Study) US$ 6 Million Capital Investment for 1,000 mt/d operation US$ 10 Million Estimated Operating costs Mining and beneficiation US$ 150 per oz


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