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Operations
Ghana
Overview
Chirano
Bolgatanga
Overview
Property Description and Location
Physiography and Accessibility
Geological Setting
Deposit Types
Exploration History
Ahafo North
Bibiani North
Akyem
Enchi
Bole
Mauritania
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BolgatangaOverview The project covers an area of 772.9km2 comprising one Prospecting Licence and one Reconnaissance licence. In 2005 the project was joint ventured to Etruscan Resources Inc who are currently developing the Youga deposit 30km to the north east in Burkina Faso. Under the terms of the agreement Etruscan has the option (3 years) to earn 100% of Red Back's interest in the project subject to payments to Red Back totaling $US300,000, by expending $US1,000,000 on exploration in the project area and subject to a royalty payments of $US10 per ounce of refined gold up to a maximum of $US 5 million. Property Description and Location The project is located east of the Regional centre of Bolgatanga in the Upper East Region of Ghana and is contiguous with the national border with Burkina Faso.  click to enlarge Physiography and Accessibility The property can be accessed by well maintained highway from Accra, through Kumasi and Sunyani and Tamale. Access throughout the project area is provided by a network of gravel tracks but can be problematic in the wet season The concession area falls within the tropical Continental or Savanna Zone. Temperatures range from 33oc to 22oc. The annual rains occur in two seasons from May to June and from September to October. Topography is flat to gently undulating with relief commonly in the range of 30m to 40m. Vegetation comprises savannah woodlands with tall grasses, which reach a height of over 2m during the wet season. Agriculture is limited to the areas around settlement and comprises mainly food crops. Principal cash crops are Shea and cashew nuts. Geological Setting The Bole-Navrongo belt is 9-25km wide and extends from the Ghana-Côte D'Ivoire border at Ntereso, north-eastwards through Bole and into the Bolgatanga area and on into Burkina Faso. The belt parallels the four gold belts south of south west Ghana (Kibi, Ashanti, Sefwi-Bibiani, and Bui Belts) and although narrower it's exposed length is almost twice as long as the exposed section of the Ashanti Belt. The belt's lithostructural composition and setting is very similar to the other gold belts in Ghana. The project area is dominated by felsic to mafic volcanics, intruded by various ages of granitoid, some of which, possibly representing the later phases of intrusive activity are mineralized. Deposit Types The +1Moz Youga deposit is the most significant gold deposit in the Bole-Navrongo belt, located in Burkina Faso within kilometers of the Ghanaian border. The mineralisation at Youga is hosted by a north east trending Tarkwaian arkose unit that has been mapped on to the Bolgatanga project close to the border. The colonial Nangodi mine is located on the project area. This is hosted on a regional shear in mafic and felsic volcanics. Previous drilling prior to Red Back's involvement indicates mineralisation over a strike length of several hundred metres with old workings concentrated around a glory hole where more recent artisanal mining activity continues. Exploration History Significant exploration was carried out in this area in the 1990's by several companies but limited drilling was conducted and no resource was outlined. Much of the previous work centred on colonial and artisanal workings in the Nangodi licence. 2006 Exploration Program In 2005 the project was joint ventured to Etruscan Resources Inc who are currently developing the Youga deposit 30km to the north east in Burkina Faso. Under the terms of the agreement Etruscan has the option (3 years) to earn 100% of Red Back's interest in the project subject to payments to Red Back totaling $US300,000, by expending $US1,000,000 on exploration in the project area and subject to a royalty payments of $US10 per ounce of refined gold up to a maximum of $US 5 million. |
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