Modern Mining March 2018

MINING News

Volvanic to acquire gold properties in Côte d’Ivoire

Volcanic Gold Mines Inc, listed on the TSX-V, has entered into a binding Memorandum of Understanding to acquire up to 100 % of JOFEMA Mineral Resources SARL, a private company registered in Côte d’Ivoire. The assets of JOFEMA under option consist of near-adjacent explo- ration permits and exploration permit renewals known as La Debo and Soubré, which together cover an area in excess of 600 km 2 , and fall on a major mineralising shear zone within one of West Africa’s fastest developing gold provinces. Volcanic says this acquisition will complement its existing property holdings in the Mandiana district of Guinea and allow the company to benefit from a valuable consolidation opportunity in a leading African mining jurisdiction. JOFEMA has completed over 18 000 m of reverse circulation and diamond drilling at La Debo, as well as nearly 40 000 m of RAB, air-core and auger drilling at the property. In 2016 an inferredmineral resource of 9,5 Mt at a grade of 1,3 g/t for 396 000 ounces of gold was defined in two small isolated bodies. This resource has not been verified by Volcanic and is therefore historic in nature. Over 7 500 surface geochemical samples were collected at La Debo, and on the basis of this data, in combination with limited RAB drilling results, a number of large, consistent targets are observable along strike from the historic resource and remain largely untested. The properties are located in south-western Côte d’Ivoire, approxi- mately 140 km south-west of the capital, Yamoussoukro, and are accessible via all-weather roads.  MOD Resources, listed on the ASX, reports that resource extension drilling has commenced at its 100 %-ownedT1 deposit (Mahumo proj- ect) in the Kalahari Copperbelt of Botswana. After two years focused on drilling the T3 project and with the open-pit feasibility study under- way, MOD has started testing the potential for other deposits within the highly prospective T3 Dome. MOD recently received approval for drilling at Mahumo and is expecting news shortly on progress of the application for a sub- stantial drilling campaign on a wide range of other targets in the T3 Dome. Mahumo is located along the northern edge of the approximately 1 000 km 2 T3 Dome, on the same structural contact that hosts Cupric Canyon Capital’s large Zone 5 resource, around 100 km north-east of Mahumo. Cupric’s Zone 5 resource comprises 100,3 Mt at 1,95 % Cu and 20 g/t Ag which is planned to be mined via an underground min- ing operation. “We’re excited to launch our new regional exploration campaign at Mahumo, which is a project with high copper grades and good silver credits,” comments MOD’s MD, Julian Hanna. “The target is to outline a substantial increase in the resource sufficient for a potential underground mine that could be a satellite to supply the planned T3 processing plant.”  Extension drilling starts at Mahumo copper project

March 2018  MODERN MINING  19