Overview

  • Mining licence area of 457km2 and 5 contiguous exploration licences of 581.2km2
  • Majority of Bea Mountain mining licence area is unexplored with regional soil geochemistry covering 60%
  • Systematic exploration only commenced in 2012
  • Target generation work is based on BLEG, stream and soil geochemistry, regional mapping and airborne & ground geophysics, Follow-up activities include detailed surface mapping, pitting, trenching and drilling
  • The licence portfoliholds multiple greenstone belts, and associated shear structures which tdate have been the principle host tthe gold mineralisation systems discovered in Liberia
  • Settings include pressure shadow target zones off large intrusive bodies; high strain shear zones related tstructural corridors and associated second order structures
  • Over 80 kilometres of NE tSW trending structural zones referred tas the Yambesei and Lofa shear corridors, now locate within the license portfoliand host multiple gold targets including New Liberty, Weaju and Ndablama. These major structures can be traced for over 250 kilometres within Liberia.
  • In excess of 50 gold occurrences and gold geochemical anomalies have been outlined tdate on the Company’s ground holdings. Gold mineralisation is associated with the primary shear systems or in subordinate structures related tthese major breaks
  • NI43-101 compliant maiden resources at Ndablama and Weaju deposits exceeding 600 koz
  • Both Ndablama and Weaju deposits remain open down dip and along strike
  • Early results from existing drilling at Ndablama indicating considerable potential for expansion
  • Exploration upside from:
    • Ndablama Pressure Shadow Zone extending for 5 km and hosting 6 targets of which Ndablama has delivered NI43-101 ounces
    • Yambesei Shear Corridor extending over 8 km with 3 major targets and several soil anomalies
    • Leopard Rock and Gondoja targets with mineralization open down dip and along strike

Ndablama

  • Located approximately 40km north-east of the New Liberty project, within the 457km2 Bea Mountain Mining Lease
  • Located W of Ndablama granite batholith in the Pressure Shadow Zone
  • Shallow westerly dipping mineralization hosted in sheared mafics and ultramafics above the contact with the granite
  • Completed 63 trenches for 3,967 metres
  • Completed three drill phases totalling 54 diamond drill holes for 8,314 metres
  • NI43-101 compliant Inferred Mineral Resource of 2.8 Moz @ 2.5 g/t Au (0.5 g/t cut-off)
  • Preliminary metallurgical testworks showing ore is amenable tgravity/cyanide leach treatment:
    • Oxide and sulphide overall leach recoveries of respectively 92 and 94 %
    • Gravity recovery > 70 % for sulphide
  • Planned drilling program underway tcontinue testing down dip and strike extensions of the current mineralization down ta vertical depth of 250 m and minimum strike of 1km

Ndablama Pressure Shadow Zone

  • Extends over 5km from Leopard Rock South tNdablama Far North
  • Gold mineralisation related tshear deformation along a granite-metavolcanic contact zone
  • Six targets defined within the 5km zone, of which Ndablama Central has delivered NI43-101 ounces
  • Less than 40% of the strike has been drill tested tdate
  • Large gold system identified through drilling and detailed mapping, soil sampling, trenching and artisanal gold activity
  • All remaining targets currently undergoing detailed surface mapping

Leopard Rock

  • Situated in Bea Mountain Mining licence
  • Part of the southern portion of the Ndablama Pressure Shadow Zone
  • Soil and trench channel results highlight a NW trending mineralised zone
  • Highlights of the initial 24 hole programme include:
    • 17.6 g/t over 4 metres
    • 9.4 g/t over 6 metres
  • Trenching and channel sampling highlights include:
    • 6.4 g/t over 11 metres
    • 6.9 g/t over 4 metres

Weaju

  • Located 30km north-east of the New Liberty project, within the 457km2 Bea Mountain mining licence
  • Similar geology tthe New Liberty deposit. Mineralisation is concentrated in shear zones along contacts between granite and ultramafic lithologies and is associated with disseminated sulphides. Forty eight diamond drill holes completed by ManRiver between 2000 and 2005
  • Sixty twdiamond drill holes for 8,726m completed by AvesorResources
  • NI43-101 compliant Inferred Mineral Resource of 178 koz @ 2.1 g/t Au (1 g/t cut-off) released in November 2013
  • Preliminary metallurgical testwork shows ore is amenable tgravity/cyanide leach treatment:
    • Overall Oxide leach recoveries between 92 and 98 %
    • Overall Sulphide leach recoveries between 89 and 93 %
    • Gravity recoveries between 39 t48% for oxide and sulphide
  • Soil geochemistry and geological mapping have demonstrated a strike of length of over 500 m with further potential from extensions

Yambesei Structural corridor

  • 8 km long structural corridor with continuous gold in soil anomaly
  • 3 follow up targets defined: Gondoja, Gbalidee and Koinja
  • Gondoja is the most advanced target with best drill results of:
    • 30 m @ 3.9 g/t
    • 3 m @ 14.8 g/t
    • 4.3 m @ 3.6 g/t
  • Gbalidee target best trench result returned 22 m @ 3.4 g/t
  • Regional and detailed geological mapping in progress along the whole corridor and at the target level