GOLKOR’s initial production target is situated directly south of the historic Anglo Obuasi mine, whose gold trend has been clearly delineated through extensive trenching, pitting, drilling, and exploration conducted by Anglo and the local small-scale mining community over many years.

The world-famous Obuasi mine, which currently adjoins the companies project, operates underground with main accesses consisting of shafts and a single access decline, with interlevel development between 15 and 30 meters. The Obuasi Deeps Decline, located at the southern end of the mine, is designed to extend to a depth of approximately 1,500 meters, employing mainly the long hole open stoping (LHOS) mining method for ore extraction.

Anglo’s plans to extend mining to the south were unexpectedly halted and after much negotiation, the parties reached a settlement to return a significant portion (30%) of its mine land holdings to the Landowner Association for them to produce their own gold but no geological records were furnished when the transfer finally occurred.

AMBEX’s Joint Venture with the Anglo Landowners Association Members has allowed the company to develop a new drilling program and provides access to the locations needed to produce up to 1000tpd in it’s planned open cut operation.

The landowners will hold a 20% profit share of the partnerships production and drilling operations. The open cut operation will cover more than 25 existing small scale mines that contain high grade ore (+8 g/t Au) on average. This open cut operation is targeted to provide feed stock to our CIP plant starting at 500tpd and increase to the 1000tpd with the construction of a second plant.

• Underground and open cut mining will be underway with 1 drill rig to start
• Processing to begin in month 7 at 250tpd (1,548 oz per month) growing to 500tpd (3,097 oz per month) in month 13
• Second plant to come online in month 19 doubling capacity by month 25 for a total of 6,194 oz produced per month or 74,332 per annum