Location: The Ashanti Gold Field – southern extension of the AngloGold Ashanti Obuasi gold mine
Resource/Production of Region: Neighboring world class gold deposits such as Obuasi, an underground operation owned by AngloGold Ashanti, producing 450,000 oz. per year with a mineral resource of 24.5m oz. The gold belt continues to the south adjacent to the company’s exploration license
Mineralization/Geology: One of the most significant Proterozoic gold belts discovered to date. Well mineralized high grade quartz vein in 300m decline. The project has 4km of strike extents of the world famous Obuasi gold mine with locals miners actively recovering gold from these extensions
Types of Licenses: Exploration license submitted and pending. Joint venture agreements in place with two groups for 10 small claim mining licenses and finalizing agreement with Landowners Association containing 159 small claim mining licenses
Type of Operation: Open cut (pit) and underground mining and ore purchasing and processing from local artisanal miners
Mine Life: Expected 5+ years (500tpd @ 8gr per ton on average, scales up to 1000 tons per day in the second year)
Infrastructure: Offices set up in Obuasi (community relations base). Construction of first 500tpd CIP processing plant on recently purchased land adjacent to exploration license
Capital Requirement: $2.5m
Revenue: Est. Year 2 Rev of $22m (1 plant) growing to $141m by the end of year 3 with 2 plants running at full capacity

Project Location

Exploration license which includes Area 1 – 16.2km2 (29 small claim mining licenses) and Area 2 (110 small claim mining licenses) 57.2km2 This is the Landowners Association areas restricted to small scale mining.

Agreement with two individuals Abdul Muniyni and Adam Kofi. Each holds 5 small claim mining licenses, of only 8 are shown in yellow on the map. GOLKOR will transport from these locations to be processed.