Mougnina Project
The Mougnina property is an early stage gold exploration property located 8 kilometres from the Syama mine, owned and operated by Resolute Mining Limited. The property consists of an exploration permit that covers approximately 120.5 square kilometers and is underlain by Birimian-age rocks of the Bagoé volcanic-sedimentary belt. The property has been acquired for its potential to host orogenic gold mineralization similar to that of other Birimian-age volcano-sedimentary sequences. Recent reconnaissance exploration work was successful in delineating several gold anomalies that were partially traced to saprolitic bedrock using shallow pits and auger drilling. As part of its technical due diligence review, the Company commissioned an independent technical report by SRK Consulting (Canada) Inc. ("SRK"). In its technical report dated September 30, 2011 (the “SRK Technical Report”), SRK concludes that the Mougnina property is a gold exploration property of merit warranting additional exploration investments.
