Seventy Ninth Resources expands gold exploration portfolio in Guinea
Seventy Ninth Resources Limited, a specialist in acquiring, managing, and developing undervalued land assets across the globe, has announced the award of two licences prospective for gold mineralisation in the Siguiri Basin, Republic of Guinea.
Highlights
Award of two new licences expands Guinea portfolio from three to five gold projects.
Licences located in the Siguiri basin, one of the most prolific gold belts in West Africa.
In-house technical team has identified numerous priority targets on new licence areas.
Multiple artisanal gold working identified from initial reconnaissance.
Field team ready to mobilise to new projects following the end of the rainy season.
Continued local community engagement, sponsorship of Talented Women of Siguiri event.
Evolution of asset portfolio as the company moves closer to a planned public listing.
Will Slater, Chief Geologist at Seventy Ninth Resources commented:
“We are pleased to announce the addition of two new projects in Guinea, adding 108 km2 to the company’s land holding and increasing the number of projects we manage in the country to five. Both licences are situated in the highly prospective Siguiri basin and are prospective for orogenic gold mineralisation. Desk base targeting and remote sensing has identified multiple areas of interest on the new licences and initial on-the-ground reconnaissance has mapped multiple artisanal gold working sites. Our in-house field team is ready to mobilise onto the project area to rapidly and systematically assess their prospectivity.”
Natalie Bellis, CEO at Seventy Ninth Resources added:
“We are excited by the addition of two new projects in Guinea. As a business, we have been exploring in the country since 2011, building relationships and knowledge. Adding the two new licences is a testament to our ability to target prospective geological terrain and bring it into the portfolio.
The award of the new projects aligns with the company’s aspirations to develop a new project generator, building a large portfolio of prospective geological real estate as the company moves closer to a public listing.”
Source: https://www.globalminingreview.com/