Premier Gold Project
The Premier Gold Project covers a major portion of the Premier greenstone belt, which consists of Archaean rocks of the Lower Kibalian System. The PGM greenstone belt is bounded to the north by the Archaean West Nile Gneiss complex and to the south by the (younger) Upper Zaire granitic complex.
The Premier greenstone belt has a history of
gold production. Three of the deposits in the area, Gorumbwa,
Agbarabo and Durba, which were exploited primarily in the
1950s and 1960s by the Belgians, have produced more than 60%
of the +3 million ounces of recorded production from the
Premier area. Most of the remainder of production has come from
placer, alluvial and small oxide-zone workings. Many of the
past-producing high-grade gold mines in the Premier greenstone
belt fall within a 7km by 5km area near the towns of Doko
and Durba. At present the Premier goldfields remain relatively
unexplored by today's standards.
Following the departure of the Belgians in the 1960s, the State owned mining company, OKIMO, undertook limited mining activity, and between 1996 and 1998 Barrick and Anglogold completed limited exploration.
Since February 2004 Premier has defined a world class gold resource by identifying a number of unexploited deposits, in particular the recognition of the Kibali – Durba – Chauffeur - Karagba gold mineralised corridor and the Pakaka - Mengu Hill minerilsed corridor.
Exploration and Technical Evaluation Completed
Premier commenced its detailed field exploration program in January 2004, and has completed substantial exploration work since then including:
Sourcing and analysis of the historical exploration (including soil sampling, pitting, drilling and resource analysis) and mining activity, including documentation located in Brussels (Belgian mining interests from 1950s and 1960s), Kinshasa (OKIMO’s mining activities) and North America (Anglo – Barrick joint venture from 1996 to 1998).
Regional geological mapping, ongoing soil sampling, geophysical analysis and interpretation.
Reverse circulation and diamond core drilling totalling 313,000 drill metres (February 2004 to end February 2008) has been completed by PGM. All drilling as been conducted by Geosearch International, an experienced South African based drilling company.
Sample analysis of RC samples by ALS Chemex in Mwanza, Tanzania and diamond core by Genalysis Laboratory Services in Perth, Western Australia.
In August 2004, RSG Global Pty. Ltd. completed an independent review of the integrity of PGM drilling, sampling and analysis procedures. RSG Global made a number of recommendations, which have been implemented by PGM.
In November 2005, Cube Consulting completed a revised resource estimate covering the Gorumbwa, Pakaka and Kibali deposits of 34.33 million tonnes at 2.5 g/t for a total of 2.809 million ounces of indicated resources and 92.87 million tonnes at 2.7 g/t Au for 8.158 million ounces of inferred resources of gold.
In November 2005, Cube Consulting completed a conceptual study with the objectives of (a) providing a first pass indication of the potential of the resource and (b) providing guidance for exploration drilling with the aim of improving the confidence level of the resource.
In April 2006, Cube Consulting completed an independent technical review which included a revised resource estimate covering the Gorumbwa, Pakaka, Pamao, Megi, Mengu, Mengu Hill, Kibali, Sessenge, Durba, Chauffeur, Karagba, Ndala and Kombokolo deposits of 43.44 million tonnes at 2.7 g/t Au for a total of 3.756 million ounces of indicated resources and 100.85 million tonnes at 3.8 g/t Au for 12.353 million ounces of inferred ounces of gold.
In November 2006, Cube Consulting completed an independent technical review which included a revised resource estimate covering the Gorumbwa, Pakaka, Pamao, Megi, Mengu, Mengu Hill, Kibali, Sessenge, Durba, Chauffeur, Karagba, Ndala and Kombokolo deposits of 65.49m tonnes at 2.9 g/t Au for 6.163m ounces of gold and inferred resource of 97.22m tonnes at 4 g/t Au for 12.365m ounces of gold.
In December 2007, Lycopodium Limited, Cube Consulting and Knight Piesold Pty Limited jointly completed the project's definitive feasibility study and technical review which included a revised resource estimate covering the Gorumbwa, Pakaka, Pamao, Megi, Mengu, Mengu Hill, Kibali, Sessenge, Durba, Chauffeur, Karagba, Ndala and Kombokolo deposits of 77.8 Mt at 2.8 g/t Au for 7.0 Moz and inferred resource of 98.9 Mt at 3.8 g/t Au for 12.1 Moz.
In March 2008, Cube Consulting completed an independent technical review which included a revised resource estimate covering the Pakaka and Durba, Chauffeur, Karagba deposits. Estimates totalled indicated mineral resources of 95.3 Mt at 3.6 g/t Au for 10.3 Moz and inferrred mineral resources of 96.5 Mt at 3.6 g/t Au for 11.3 Moz.
The exploration department consists of 5 expatriates and 170 local employees carrying out all phases of the program from planning, through implementation, to data acquisition and interpretation. Cube Consulting act as consultants on all aspects of the resource estimates and database management.