Gold Bearing Quartz & Alluvial Deposits

Uganda Gold Mine

• Machinery on ground.
• Owner has already invested large sums.
• Mine currently in operation at low efficiency.
• Equipment is functional.
• Documentation is up to date and in legal compliance.
• Road Access, Security, and campsite.

Location and Access:

Located in Uganda, a landlocked state of 241,000 square kilometres in the eastern part of central Africa. It borders Sudan in the north, the Democratic Republic of the Congo in the west, Rwanda and Tanzania in the south and Kenya in the east. Lake Victoria forms much of the southern border with lakes Albert and Edward on the western side.

The mine project is close to the Equator. The area has an average rainfall of around 1200mm/yr and an average humidity of 77%. The project is accessible by road, the larger part by tarred highway, the remainder by good all- weather roads.

Description:

The mine is gold focused mining and exploration privately held company with all its mineral assets in Uganda.

The properties host multiple gold rich quartz vein/shear type outcrops and several alluvial deposits. The first site selected (Kamalenge) had extensive exploration data on the rock and alluvial ores. Several of the sites within the license areas are known to have supported artisanal workings and geological records date back to the early twentieth century. All land requirements, access and site infrastructure is complete. Both hard rock and alluvial processing circuits operating.

A combination of data supports the potential for the province to host several million ounces of gold resources. A 30km long shear zone are intersected by numerous auriferous structures. Our strategy is to secure cashflow through continued investment in the alluvial and rock circuits whilst expanding on the exploration efforts in the greater area

Foreign investment is protected under the Ugandan Constitution and the Investment Code of 1991. Uganda is a signatory to major international investment related institutions such as the Multilateral Investment Guarantee Agency (MIGA), Overseas Private Investment Corporation (OPIC) of the US, Convention on the recognition and enforcement of foreign arbitral award (CREFAA) and many more.

Uganda provides special incentives to the mining sector with some capital expenditures being written off in full. Uganda also has a fully liberalized foreign exchange regime with no restrictions on the movement of capital in and out of the country. 100% of exploration costs are tax deductible. A subsidiary company has gold export permit preapproved.

Geology:

General:

• 60 km combined structural strike length
• Structurally controlled vein- type deposit
• Gold in quartz- hematite veins hosted in sandstones/ shales
• Geophysics, particularly electro- magnetics, indicates further prospective zones within the license area
• So far, approximately only one third of the prospective area has been visited and sampled

Exploration Results:

• 45,000 individual geochemical data obtained, 58 elements analyzed
• 23 significant gold anomalies
• 20 significant palladium anomalies
• Significant anomalies for rare earths, lead, zinc
• 4,000 fire assay data
• Fire assays (1m channel cuts in trenches) confirm geochemical anomalies
• Each tested geochemical gold anomaly shows several g/t in shallow trenches
• Strongest geochemical anomaly shows several fire assays above 140 g/t, numerous values between 20 and 70 g/t within other anomalies
• One mineralized vein was followed over a strike length of more than 1 km, indications for a total strike length of more than 2km (trench sample results of up to 32 g/t)
• 16 drilling targets identified so far with gold MMI (Mobile Metal Ion) response ratios between 10 and 110 times the background value

Results within Mining Lease:

• Trial mining at two hills within the mining lease confirms sampling grades obtained by fire assay
• Structural control clearly identified at the two main zones within the mining lease
• Sampling of an adit (approx. 20m below surface) at one of the hills shows two mineralized zones. The first zone averages 8.4 g/t over an apparent width of 9m, the second averages 4.7 g/t over an apparent width of 7m. This second zone was not intersected completely with the adit end face assaying 2.7 g/t
• Current trial mining from surface above the adit within the first zone only has exposed two pay structures to follow. The one shear zone averages approx 8g/t over 2 metres (up to 60g/t in a 1m cut). The other multiple veins zone is expected to yield stoping grades of approx 5g/t over a 4 metre width at the original adit elevation
• The second hill shows up to 4 reefs, the highest near- surface value is 147 g/t (1m channel sample cut in a shallow trench) with further values exceeding 20g/t at various points along the new access roads cut into the sides of the hill
• Sampling of quartz- hematite veins in the valley shows several g/t Au. This confirms indications from the electro- magnetic survey some of the low lying areas carry economic potential. So far, only the morphologically exposed areas were tested in detail
• Trial mining of the free dig alluvial gravels (2.6m thick layer) in the valley has given an average calculated grade of 0.63g/t over 4,300t mined to date
• Panning of the free dig alluvials in the valley continue to show speck counts of between 15 and 45 per pan which relates to grades of approximately 0.4 to 1.2g/t

Genetic Indicators:

• High iron oxide content in both veins and host rock
• Geochemical data indicate a hydrothermal fluid mix derived from both felsic and mafic magmas (tungsten/ heavy rare earth anomalies et al.)
• Gravity high in central sedimentary area
• Target areas are sandwiched between two granites, there are indications for andesitic/ basaltic volcanics below the sediments, ultra-mafic dykes within the mining lease
• Indications for an IOCG-type mineralization
• The age of the mineralisation is palaeo- proterozoic (approx. 1,600-2,500 million years ago), one of the most promising eras for large multi- commodity deposits
• License area is within the “Circular Dyke Swarm”, a large regional structural feature connecting the Tanzanian gold fields with the Kilo gold fields in the DRC (“Kilo- Geita trend”)

Geological Survey:

• The mine is in good standing with the Department of Geological Survey and Mines (DGSM). The DGSM is both the licensing (exploration licenses and mining leases) and controlling authority for all mining related activities.
• The World Bank and the Nordic Development Fund sponsored a major project aiming at both improving the geological data base of the country and re- equipping the facilities at the DGSM.
• Part of the project was an airborne geophysical survey which covered the mines license areas, providing excellent results
• Recently The Finnish Geological Survey (as part of the project) conducted a mapping and geophysical training programme for the DGSM within themining lease
• Further programmes will be conducted in and around the mines licenses/lease.

Resource Potential:

• Potential for multi- million ounce gold deposit
• Economic potential enhanced by possible by- products (palladium, rare earths, lead, zinc et al.)
• Trial mining confirmed the adit mineralisation continues up- dip with two pay structures, one being a shear zone and the other consisting of a series of quartz-hematite veins dipping at around 60° in a westerly direction. Both these pay structures are expected to continue in depth below the adit

Infrastructure:

The 1,100 acre mine property area is fully secured by a perimeter fence with additional security fencing surrounding the process plant and camp areas.

Water:

• 20,000m³ Raw water dam
• 27,000m³ Bulk water dam
• Two 500m³ process plant header dams
• Three potable water boreholes

Power:

• 1,040 kVA Total installed generator power
• 1.2km 6 kV Overhead line complete with MV / LV transformers
• Low voltage reticulation to plant, infrastructure & accommodation
• Comprehensive lighting and small power to plant & infrastructure

Services:

• 50m³ Fuel farm operated by Total Uganda
• Upgraded 6km main access road and extensive internal mine roads
• Broadband satellite communications & mobile network coverage
• Septic tanks and sewerage reticulation to plant and camp areas

Plant Buildings:

• 183m² Administration block
• 170m² earth moving equipment workshop
• 78m² Changehouse
• Process plant guard house
• Generator house

Accommodation:

• 10 Room senior accommodation block
• 10 Unit tented intermediate accommodation
• Kitchen, dining & laundry facilities
• Two ten room junior barracks
• Tented security accommodation

Basic Process Equipment specifications (on site):

Vibrating feeder:
Manufacturer - Manhattan Mining
Capacity - 4 tph
Motor size - 0.75 kw

Jaw crusher:
Manufacturer - Telsmith
Size - 10” x 30”
CSS - 1”
Capacity - 23-34 tph
Motor size - 30 kw

Dry screen feed conveyor:
Manufacturer - MAED
Size - 600mm
Capacity - >40tph
Motor size - 11 kw

Dry Screen:
Manufacturer - Pilot Crushtec
Size - 8’ x 4’ Double deck
Screen size - top25mm btm 12mm
Capacity - >27tph
Motor size - 5.5 kw

Cone crusher:
Manufacturer - Nordberg - Symonds
Size - 2 ft Standard
Capacity - 20tph(CSSat 9mm)
Motor size - 30 kw

Mill feed conveyor:
Manufacturer - MAED
Size - 600mm
Capacity - >40 tph
Motor size - 11 kw

Ball Mill:
Manufacturer - Osborn
Size - 5 ft x 5 ft
Capacity - 5tph
Motor size - 75 kw

Mill discharge pump:
Manufacturer - Warman
Size - 1/1.5
Capacity - 1.52 l/s
Motor size - 3 kw

Wet screen:
Manufacturer - Vibramech
Size - 8 ft x 3 ft
Capacity - >27 tph
Motor size - 2 x 0.75 kw

Knelson concentrator:
Manufacturer - Knelson
Size - CD 30 inch
Capacity - 30-90 tph
Motor size - 37 kw

Photos:

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