ワs NOTE〃Editl「isdsdicat€dloacquainl
heconvoning
olh6 Asmara ounc€soigoldP6rysarovsa 7yeal ThisJoumal
nlnelile.Sunidgs
hascomdel€d youwilhthsq6n6agslogtl(nodnleasbilittsrudy
iorlh€
a bankalle\pesandal€asol minsGlizlonth€epDiecls
nofi olAsman(Eoba andlheinvestmoopp.tunit€sgoldl
lt b otr
hisMcoccasioni. lh€devslopnenl Do'no,
Af Nelsdd Guposndenvnormenl
olEn'bea
Thisstudy
lo imFovehe Joumaloilhercgions nininginduslry
inMay2013.
considels inlenlion
qualily2010
wasol using
acenlralized nlefinsol
andcontenl
AsmaraGeocongrcss
lhsbenefts
tacitry
Dedoand andhenc6l00kioMard
l0your
melcLioust
organizsd
andwoL.
ops€ling
d Embaprocessing
on
hos
we
d dob6ler
UkewlFin2011and2012 reighsdreconcepl
ol
sugqestjois
atsndsd.
prolesionals,
aldis in2014.
a0loialion
mmpanies$e orelromDeOafta
doptrtilplsnt.
publicanddol€gales
reF65ndng$meenr.afzed sat BoulderW€hope,tusl .ndwrymuchlool
isM*ingonlhednplelion hMardtoyou
onlides
tomSudan,SoulhSuda4 Min€sinouus
ioiningY€n€nandsaudiA€biahave
ol adeiniliv€
laasbfirystudy,
Soqal shdedjounsy
olluming
challongss
panicpated.
Almosrsludies
3nd
allE lrcan
andEnvironmenta
prolsssionals
hav€bs6nable
Resource
rccalculaton
lorlhscolluli
loan€ndt€ lso dayslechnicalIr thii rNddl, the E9ltolxion
s6ssions,
shereawid6lanqe
2013hasheing
adimaily€arofpoliti..l bou Lris shodd lot
toPobnrial
olrhsn6: rclatod
lormdyexplo€lion
andminingbet.Ln a .uthonbit .
oppodunilis€lb|mlning
dwelopmenl
ThoMinislrycompani€s.
oiEndgyinEitoaaswel
asinIh€AEbim andMines
isprcpaGd
tolakelhegschem
NubianShieldcounti€s,
cal necessary
pmclc€lslepsl0weahdm€thods
andg€ophysidolbedrenl iMCnl slomdd renain
invssligalion,
miminarcjn!p.oi:.ls cfinpetliv€
loriJtne
andprcpare
poiashinAlrica,
anditsdploElion
sndeNircnmenlal
issooshavebeeill sben lwoyears
tre
sinoo
covgred.
A{iderang6
olissusollheEineaimininq.slaledrolheMining
hdustyhavo dynamics
has
onthe
achangebo€nrais€danddiscussed
dudng
dre socror impansd
rtleolhe conterence,
lromAsmanloasmarailining
OooC$grc.s
nest.tt of Entrea
AsmaraMiningContercnce
2012was Conforcnce.
Havingo@nizeda
Minis,òE面,and M昴h6ldalatmewh6n
s3 aEleinglh6 sucesstulG€ocongrcss
lwoyeaK
Tcl■2911‐ll̀●47realili€sorlheunjustnabb
sanclions a!0,more
anoftrol8peopL€nsvo
F t x 1 2 , 1 1 16″
2
lmposedonErib6a.
Ndwdnelss,
dt! sho{ninreresr
to9anicipale.
Dudng
2α
B●
x
5285
rod€velop.
ssclorc.ndnu€doclob€r
2013iioreril belwodays
prcsenlaliois
In2ot3gislramanagedlool
anddiscussions
Deparlment olM
suct€sstully@nlinu6
ilscommercialandlollosed
byanorhibiton.
Th€rc
Td● 2,112唸 889
qoldproduclion(phas6l)asr\JellwillalsobeaonodayvisI 1oBhha
瞳 : 2,1 1 124509
phde
ssdevelop
andcommencemine
andadvanced
explo€lion
ROBox 272ll coomnialc'p!€rprcduclion. sil6 dd twoday3€xcu6iMlo lh€
man・Bntr●
p6tne{abrsolrheRedseacoasr
Aa ilininsSh.C.ish.lsadon^劇d6v€lodng
dleKotaGoldDeposil includinq
a lrainid6 verging
ona liho
goldmineinloalowcoslop6n-pil
whichisexpstedtoprcduco
104,000
Asman, Erltca

A●mnA出EEa13 02

oonafterndependedcenMay1993lhe
n conrb
co!d ollersignlicanl
andahradve^alon
govehmenl
prblrcprvaleol Erxeahasbeenenqaqedot)0ounlesloreslablshingvablepanne6h
psiogenerale
n rehabl
lalinglhewarlorn
econom!
andnveslmenl
rapd econom.
mprovin9lhe
slaidard
oilvinqo{rhepeopellcrealeda conducve
enyronmenl
iorlheadve
ira4o
0r!lheolher
a n!mberolcouiIeshavealtanad
panrpalonol ocaand1d.ergn
pnvaieh!erlo6e.0iom.qJ0rnh
malirgrhdrmneraendovrmenras
lloveversnce ay1998lhe
developmenl
ollhs touig rrr.ptumar!
prmaryd.\erolrheeconomy.
Thrs
dr!c'
slalehasbeeiseyereLy
tudaLedbt theborderdrspul. ser!es
asa n muuslothe9roynh
ololher
seclorsolrlr
wirhie ghbor
dgEthopa Despreihs
theErlrean
grornh4qrotheoveral..ononyread
olrheNarLonapeopcandGoyenmenlareas
resoluleas
erern llren e . o io mTy h eai t hg h eer r e llh e e r o io m yd !e *'oe1so
commmeitandendeavor
loworklogelher
lorebud !hei se.onoary.n0
rei aryseao6.
couilrys
economyandlo securesoca aid econDm.
\!h n theacl!aconlrb!loIlorea.hcou.tryvares
proqre$.
Theoulcome
01lhebardsod s novr
noLre
cotrilieslllhlvdlldeve
minngseclon
havcd0rrEd
oped
redzedbytheemcrgenceoJaprospecllve
counlqmenormous
economc benefls
rhe on Themainsecloa
aids0b{edors
01lh0
'eq
good
& lrearecofony
lhalolrer
inveslmenl
opporludlies
TheEfllreaD
GoverMenlre.o9oizes
llialnridra
andp.ospecls
lo.9eneraring
6pidandsuslanabcr.sou(escanereally.ontabuleto
a nalions
econony
ecoi0iic growlh
anddeve
opmenlare1r)agrtu luruI
Tli. Dcorod[beielholminnqarealsorell.cl0d
n llt
aqopr@6snqI JJsheries
Mdlishproc.$ig andconlr
lo ror.!n exchanq-abLrlonear n0s
markelng
h rrysetums (!l{ii)lodsmand€ aledhosp
Aihoughre.enlylhere
isdorriui inlhellorrd
a rernalerssources
georherfia
one'gy.gas.wind{oc.df0tri.d rralene!Etfces:rhcnlemalronalb0omnsoarandb omass)devei0pmenl
and@msDalmi|l
p'
n.la
h4
ror
n
ces
beei
a
maj.r
ocenirei0vmdiminLngolprecou:nd!slraandcoisir!.iorn ierds
d E 1 1 , eAas ar e s ! lE r l@san o r a ntvi).oitruclcn n ! r s lh e ils
1v4qhllabicaloiandnaiui.acrurnq
I
n
p
o
r
l.
^
ld
e s l. a lo n lo r . ! e sim
lmnerni9l a i d D y2 0 l 6
orh o !snagn db a scnl ras i i !durel v l)i rai s p o n a n d Lls expe.led
lhalEilEar halelou mn nqooenlons
comm!n
cai0nsse0.e3 {u}domesln
afdroieignmie
6 le llu n d e n /raryh . h ' r b el oo e e d b l
T
h
c
B
s
f
a
lrade
erpaision
and(rl c€epeninq
ol banli9 aodollrer
h nes
2 a r aDe b a n ; a a iduCo
l p o l: s mlnan.aisemesThese
Ei sedldrsand
s0bseclo60l A$nafilMNil[ cff$rrt [t zotl

ENERGY AND MINES(MoEM,h€Minislryoi Eneryy
andMines
ths
Highllght
otaclivitleiInlftelesilewycals
lhe
AgencyMinisty)
is aulhoiz€d
Ljcensinglnclode:andisrespoNible
lorlh6admln
slralion,
uplo lho
Following
apedormanc€
h8sed€valualion
nahoi0l alitypes
olrcqulalion
andcoord
Presen!
aclivlesnlheenerqy
andftiningssto6 olEritla.
lo Exploalion
ando.dinary
aswola3
c0Ne6iontheD€panment
W$intheMinisby
olMin4{DoM)liMssqeissu€dbyexlraodinary€n€ndonsol
i5snlrusred
eih Magingh0 mine€lsecior
andlhecslosi€l Sudey{EGSI,
Mineal€ncompasses
lic€ni€.
wdedNenedtoa mining
Twodoposirs(MRD)nesources
Devglopmenl
and$o Mineral
ol Eri.Ub
MiningIhe Nelasil€ndFanco.Guluj
lic€ns€s(MBM)
F€soufc€s
Managemenl
DMsions.
A laloialorytheK6tkob6t
licenseolSanu
B6sourcos
Sh.Co.
andbyasmsllunilinlh€DoM.Followings€niceisprovided
lhosiachonl
oldreii ning
Lawin1995
andlssuancs
potash,nesourc$
has16nquishedlhe
Bada
NGEr
lheEdlrean
miningseclorhasshown
olliconsos
in1996
Epiddevelopmenl.
PuFuanllo rccenly
inlroduced
Afferzda Minins
Sh.Co.acqui,edbo Zaraprojs.l,
policydd
hrges.ile midng
opoariois,
orplorarionrdsl€reditsMogoEib
dd Hurum
Keren
MiningMoEM,
mi.iig,ae adninisleredbyMRM
rcpresentng
pmPedi6lo sutssahaBFesourc€s.
whil€small
scaleop€lal,ons
ownsd
bylocalp@de
olloeltnd
TneEGSaid lh€G€ologicalsuReylorconsrrucrion
andinduslrial
ri ne6lsarewilhfle
geophysicalmnducreda deuiledsuftoyconsisling
guidanelrcm
undor
MoEM.
RsgionalAdministalions(MT)andrffslenlE€clmmagnelrc
oi Maqieionelu'ic
Th6rnaFtasks,amongolh€rc,accomdished
byt'e
prospecr.
The
we'
lhe
ALid
oEM)
osorhema
MnislryinlhemineBl
sectorthrcuqh
ilssubordinal€sars'$ullspolsnllalinollhissrNeyindical€
agmdgeodremal
prcmo0onandmonitodng
otthese.tor,
issulngol lic€ns€s
Ihe MinisEhasben developinqaolcompliance.
G€ologici
ilapotEdtsa,sllle flsl dEfiRegionalhas
lonalionsl
ftinemls
dalabase.
ll a rcsoo.s&ililv
1r,000,0m
s.:16hasbeing
fnaf2edandisreadyprcvid€p.eliminaiy
inlomalion
to6xploration
mmpaniss
fll disltution.Inaddilion
naps
olhergelogicalinconductng
inEdtrea,
intsrosled
dohiledine€stigatids
produc€d
at1:250,000
scalewerealso
lorsp€cificlowads€n'ichinq
lie gooloqicalandlo mateconfibution
darabase
olrhecounrrylnlinawilhIhs rl1orc
arenowllvilhBasedonlechnicaco.openton
agro€m€nl!h€llv€1:250,000
scaeqeologlc
maps
soireolwhich
arenolg€ochemicalexplomlion
Chlna
Geological
Suryey,piiblshod.
goologicmap
th€
1r,000,000
scalo
covenig
insou$en
wod(havsb@nconduclod
andmapping
shol6counlry
hasr@nnyb*n prepded.
Severalmaior
Edlrea.
havebe€ninvolved
andiuniofexplorarion
companios
inassessing
andexdodnq
he mine€lpolenual
ot$orhefi6t roundr@kin1996.
c.unrrysinc€ollk3lEing
Uponrcceiplolapplicalions
aconpani€dbyproposals,
gowining
ol allmining
Thel€qaltanewod(
U'oconducl
lromorcloniondmranies,
lhoMnl\iieviss herclaledopeialions$dlhinlhe
lefiitoryot
Edlrcaandparly,
adoquacy
olproposals,
conp€lsncy
olapdyingolMinoral3
ina Mining
LawcomprisingollhewoftFogram
andexpenditure Isembodied
app'opdalenessPrccdalion No68/1995,
Min€BlProclamaton
commilment
saielyandoNircimonlal
issussandlncom€
No.69/1995
165201
I, Mining
TarPrcclanalion
providarHmnmdalion
lotissuane
otliense.ltrs
dd
Eeguhlions
on
MiningOp€aliois
te$ltlolic€N0.
MRM
alsocoiuolsandslp€rviser
exph|alion
aid mioing
1919!15,
adivilibloensureltal @mpei€6
arcm*hq iuline
gurdolin€sKeyPoliryi$M uponwhkitheMining
tawisba$d$$ lheagrcemenls
signsdandlhodtecliv€s/
issu6dbyd'eMinislry
Moslimponan[y,honiloingis. Allminenlrssourc6€
don€loonsurc
miningina
opolalonsarsop€Eled
proporly.
inEdlr€a
alepublic
sustalnabl€
wavinadhercnc€
loinl€maliona!
accsol€d
Th€SlateI'asa dulylo snswE
he conserualionsnd
prdctoes.
TheEGS,asa rcs€arch
wlngoi Doll,onlha
suslainsble
development
oilhesersources
iollh6
o$olhandcanjss
oulgeoloEical
mappinq
andmineEl
prcgds byil${ andincdbnomdm. Tneinlenlion
drplo,alion
h t0d€ateaf.vdalleahosphse
gov€mms.lal
sit' lor€ign
lorlorcigiinwsrnonl
h hs maingsedorDlre
4eiciesandinlematjooal
isnad€olthesignined,olelhatlorciqn'ecqnfion

MiN:NG LAW

rsmr mnEqmmrrF 04

,2

inveslrnenl
andskillsdn playindEddelopnenlold'isse.toraidlhecapihlinlengve,
l0nqtem,anddskynEIu'e
otmining
investnentsi
Ihe noc€ssily
lorionnulatng€sulalionstt)ichensu
rcprcl€clion
ollhenalu
El enMronmenl,togeth€rwithsusrainable
developnent
oirhecounlrys mnelalpincipresresourcss
insccordanc€
wilhsomd
olmaiagement
Edlroanrcsou.co
andandose;Thel, ningLaws uplo.dale,
atraciive
andcompelitivo,
asil provdes6ns derable
beneflsandinconlivss
loprovidesFor€xamp
invesloG.
e lhelaw
lor:
The
l0
sxploilanyommercial
discovedes'ighl
p!.suailloa validerploralionmad€icense;TIelosell
l6allyore&o(lre
olalldulies'ighlandhresandwithoulbsing€qun€db obtainany
o$eraulhonzaton
orpemisjon|romanyolhe.
prcducsd
puGuanl
Governme.l69enc!
al mioeGlsyas) olallepilaltudprc!rcduclid@66;
wdle-oisoiexplonlion
expendilurc
incodedAsifrpleandhn lMton sysiem
whlchrccognisos
lhoisly nalur€olmninginveshenls
andh6nce

A simpe"on+sloC
licsnsingsysl€menabingali
trelormal
liesloralllypesof icssgslormininq
opofalons
lo becomdeled
byasingle
Govetnmenl
agency,theMinislryolEnorgyand
Mines.

(slGishl
Accslsfal€ddoproclation
linemelhod
over4

Thecarrying
ioNardoj losses;(5%oigrossAgenercus
rcinveshenl
deduclion
Anominal
lareol mpod
dury(0.5%)
onaI npuls
nBceserylormningopehlions;Nomalrcyallylorlheatesaswellasanoplion
pensionrcduclion,sus
orwaver0llhooyaty n
apPrcpnate
cirumslancos;
pemitng;
Equiablelb€'qn
exchanqe
requlations
F@dd unaticledrepatiation
oleaningsi
podionRelentionolaolloreiqncw€ncyermings
abroadinexhal a€ountsi
Mantenanceinbanl6ii
oihrc gncffiency
amounls

TheMineralLicensing
System
'Ir10 idn! lt{r p€rni! lE loidhg ly!6 oric€rE8s

u"■31
■, 0

uC3■
6e Fee(POr ucOnml

naxinunar€a$al a!i{lo lc€|E3cancol{ hffr6d{s€€Trbleahove)he
Minlt} 8lloft m iple
lccos€soonliguo{sund€r
onsla.|Essgrcsmsnl

Annllel 13
Re山
eer K¨

us$lepplox l

ml l
P11●￨
u S , l e , p r O■x ,Mtt Arta●m 2 1"

Ai 0l$€.0h3n663 ordu$vB
andg|Ed$€t'3ful L' odlh e E@rdlio.
holdflsar a{txnatic
tjc€|E8toml{ifh a PioS6ihgLigls€anda
MiriQtic€||s.fon anBplo.dixlLireEs,slti€dro$s tulillmantolhe obligatiom
ud$ $e g€.d,ing
lic€nsa.
h &taliona251r€ductidoldreorigin€larsatu6lobsmad6
al€dd1rcn€lvalv€ar.
fiaff6r
he lnitialhl66y€arsandho s0b6Euent
odin&yonon3bnollvoy€s]s$eGisasrongjusdiicatonb contnuo
6xd0r6li0nd|eMoEM
ha!adisd€toiery
porlr b givsextaordln8lyenonskns.
Wnibhh c€n|gsooauycoflinu€
llnullo lc€meb conv€d€dbnning[|€ XinRitytust]rloodemhm'lqit Atuldl'eiod tEbas€d0np€rtumnco
eEludion.

05 rsffrmffiru2l|lAplaodioGlr antolft€sofcgB6nayboir*16
qnrhsolenyndons|y.
hyandtuAw$
oll€g3|
A ,p!f,cdio|lt
areb hsmds0nsp€di.dLrm
lul canboobbned
tun hs DolS
erdmuslbe
pilcdlngeooonpani{dbyanonrctun&Uo
lee0loadlspplbaton
t6$tdi0n) olus$lp€rpasop|€a€oltd,
dElie suppodino
do$m€nhlion
tucc€€sl'I
applictit5
arcabosubj€cr
b apaynfftoly€af3
lic€nss
lossand$€fctl.nhleonlhoissu€
olalc€nss.
IheBteolth€ss
rs€€b gown€d!yR€lddion{asshomin$€Etl6.hw).

Companies
MiningandDevelopment-Stagenera
h a Canadian.0
6 a Inf n9company
0da[dde!elopmenl
agrcemenl erp0ra1
iomedbyalointvdnlure
andniig
company
engaqedn expLoral0i
ErlfeasNaUonalM
belqeenolbaseandpreclous
andCanadas
deveiopmedl
Coe GNAMCo)
padra
ysnoufdng
meialdeposN
NevsunFesources
LtdB SClysladand
AsnaraSuirdgehasnowshiftedmanagedtosuccessl!
phase
mne n
10lhedeve
opoenlolthe
theftstmodem
ope'ale4 deposls
oi theAsma'a
Proiecl.
Edrealhe BslraMinngShareqnicantamou[holr,ir.hconla
nss
Companytransilions
noma Godproduccrlo
zn. god ands Lver,
wilrr
lhe
lhalolamalor
coDpef copper
leasibtY
producer
20l3 .onrp
elonol a banlaben lhe3d Aoarreror
St!dyinMay2103.Trestudy
demonsl.ales
thallhcminngola
lotradvaiced
deposls
llEImakeupqolddeposl,
wilhn lheAsmaraFroje
TheKokaocaled(EnbaDe o Ad
areaoTMnhem
lhezaraProiecl
Nelas,
CupoGodandDebatua)andErlreaisIreinq
developed
byllreprocessLnq
ollheorenearthearuednssharezaia1"1Company
lzr,lsc), EmbayDeihodeposilseconomca
aJodVe urebeNleen
ENAI'ICoi7.::''(sFEco)GrcupamdllreSFEco

sbs dlaryolShanghai
Conslru.lions a subs
dia'yoisoulh
isasolheEPC
Group.
SFECo
Lld.,
alutuorco racloriorllreproleclTheKoka Bo!derMinesandAusl.alian
exporalion
company
GoldDeposii
hosis
aJoRCandN
promotng
potashrhe
Mne.al s successluly
43101companlP@babe
resources
ofco
uli
in
Danaklafea
Fesede0f4.6million
ronnes9Gdng
A J0RC/43
101companlresouced ng760000
5.1g/lgord,
conla
IotaLin9l.03Bi
Iras
been
eslab
shed
ouncesTheCompanyisJocNedlherckaGoldDeposl @ 13%rc wifirolalconlaned
ondeveLophg
polashFoasibLily
ol 194M1
Delinalive
hioa owcosropenpitgold
mine(DFS),
whchisexpecledloisexpecled
10p.oduce
r04.000Sl!dy
2
0
1
3
{
.
o
d
s
der
bec
om
p
e
lo
d
in
"!hichouncesoJgod peryearovera 7 yearprocessmg
mn rg andlheCanallileminelileal anaverage
cash
coslol

g
ヽ

置 一

TEREX

n∞

g€ophtsicala5.161line/lim6id0m0
LondonAlricaLtd.isaB. ish
andGerasi
overlheadobha
p'ivalee[ploralion
thalhas soNey
conpany19
ra€el
anexploralion
nghton$s 876km2 SoulhElscoveing
seLecred
onthebasisoiTM
licenDe
inlheGash areas
Akordat.orcta
geologicalinloerelalion,
anomalies,
Barka
regonolweslem
Ertea.
geochemical€nonal€s.
Thelicenss
wasorgiialy granled andyear Ch in aaninilalthroe
AfticaHu a kan
Exploralion
Lld-isa nJuiy2010lor
Andiamopoiod.
juniorTho
discovered
Inveslmenl
Co.has€xporalion
company
UKbas€dexporalion
conDanycensesinSsroa,nonhol Keren,andoveralleasl2 km
lhathasbeen
acliv€ly
engaged aVMSsyst€mganled
in
2009
dd
of
srrikolollowing
.@nl
d'il
lng
al
MensuE
4ea
inrcgonal,
asw€lld detailed
Kohl-Gerger
inGcsclin9
sulphide
exploGlion
basedongeologicalmine.aliMlion
masive,slinger
mapping,
usiigstar€ollhean
{s€mi
Zhong
Ch a n g
Nin i ng
C o.Ltd.
geophysic6l
aidomesruey,groundisa Chines€
ondergoinq
dcompanylPardg'avilygephysicalsoNeys, S u b sa h aFr ae so u r ce s
e4loGlFn
wo.krnMai.Minearea.
$lellrcimage
inle.pElatronand(Erilrea)
Lld:
The
sq
Ply
550
ThaniAshanti
AkordalrockchipandsoI sampliig
alMg
kmMogoaib
Nonh
Explo'alio.
No
d
h
L
ld
.a
n
d
T h ani wilhd'illinqnlheHaykola
arergranledinJanuary
2011, AshanliKerkasha
Lrcence,
Lld.Aierwo
since2009Thecompany
ldenlilied lies.pproxlmately
10kiiometres
nonh independ
enlt
rcgister6d
olploralonmorclhan20pol€nlalvi\,lsla4el
polymshollhsBisha
Lic
Volcanic' companios
roprssonringlheThani
areas
includingi5 larqels
lorgod(VHMS] tuhanliolllAE,a recsntlylomed
hosredl,lassivs
Sulphide
deposiL
Thsvolcano-sodineitary Slhtogic
Alliancotugocoldb€two€nli'e thhadeposil(china) rcckshosling
LandEnersyGroup
AshanliandThanlnvsshenl.
Iire
lheenendnodhwadsb€n€alh
Ltd.isa Chi.ese
Bxplofaljonar€aoioperatons inlhoGash
NodhEL{Flg2)anddillinq Sakaregion
islookin9lorgold
c0mpanylhal
and Mogdaib
snhprdy€nensionotbas€msd
clnduclors l\iodal Nodhlic€ns€
b6e metal
doposits
inG09n€are-a olpdoriused
lolheAnseta
lor10,457m)
idenhfied Feqion,
fte arcaenends
tomGognenoih (58d.illholes
makinga roralol 1863km2.
byananbomeele€lromagnolicb rekwdasolthol Bshamine.
Lld.isasuryeycsulledinhe ioteG4lion
ot SaharlJlinerals
I 'I i n i n g
Sh andongcompany
volcanogenlc
massivesulphida
lo he pivalelyownedexplo.slion
developmenl
ErilreaLld.is€srablishedandrogisrsrod
io
resroldEMogoBib
Fiver
aChinsso
company
op€ralingin
Bemudain€ady2009.
Thecompmy(Erilrea) secured
Dokemharorcgion.
TheFmpany
hs AdobhaBesources
rhsTamb€€
Prcspecling
ownod
sbsidiaryUcense
beenundergongdolai€dgoologic€l Plytld., s whollynE.itroa
onrhol0January
Lld,s anAustralian
mappinqandg€ochemical
emplinq orGippsland
2013.The
Llcenss
hasunloslod
jun
prcdu@dll hasa.dlaEels.sinceFebtua,.y fi expoalionconpany.
Adisanal
miningandis-1skms
aroas
2013,
hhasbesn
drilling
s6veral Moconliguous€xploralionlicons€sgoldsourieast
olthe
ch'8isha'ar€ainnonhem
largels.
The@mpany
hd int€Gecledinhe Adobha(VMS)
volmnogenic
nasst€suLphid€a6.?metols
2onowilhg@d@pper Eilroawilh2,200km2
combiiad
su'lacealeas.
Solhlidses we@andgoldvaluos
inAlararcain2
ptotuitFq detalsseehe conpary
hol* outollou'holes.
ater
IlrecompanymNenedtrcmprcsp€cring
helatetpages
d kisjwnal
p!r6h deposilinoengelarca
immedialely
wesrol coLuli.ftis yeaiii€en holeslhetoraldeprhol whichis 1393
mals6havebeen
di ledandI eeol lhelifieenholeshave

07 r'innl rfi r urHsclrE

ERITREAヽ■ゆいIⅢⅢ Ⅲ Ⅲ…

l==E--E -*

ｌ
・

⁚
・︐

--{.*
-E -*-

Ｉ・

Thegeologlcal
setupof Eritrea
is mad6upot Precambrianbasem€ntrocks
thatareoverlain
unconformably
bypredominantly
Mesozoic
sedimentary
rocks
andTertlary
to Quaternary
volcanic
andsedimentaryrocks.
lnl€lPretalion
dd6dbyli|lihdg@ndcontds,sug96t
dul
t's
m.lc
can!€ subdMdsd
inlohlr l€donicbloctsBas€ri€nt
ods inEdr€sco$rnbl6drd 60* olhs
ors€gnenls,s€ptat€dbyEdotticbdlxlni63.Il'e oI
sufacsollhocounty.
Theh6€n€ntrcdsol Eiboa
lhoso
blo.*s,['e llvtsl€m,c€nlralandoasloms€gmais,arcpanol$s tuabian
Nuhianshlald0Ns)whidldr6
underlienolt]€nandc€nlral
Edliea,{hll9llhelounh,
exp0s6dinnonh6astAnioa(Egyplsudan,
Eifoa,8nd
pad
th€
Danak
sogmsnl,
ocans
in
t'e
soulh8sslsm
Et'iopia)andinSaudi
Aabia,nolh€m
6ndnod'resl€inolh€ csunliy.
Tlr€a€sldnsesmFl,te Ba'*aIsrali
andDanoif'e wsismMiddloo8|lsolY€m€n
Ealtft6
parl0lhr montyi3
in
op06edhsno{trrl€cem
sr*# isb€as{sdton?l€6ent
am60a
siturebdwd
andundsftsto 8€rl'!lo}lans I b m.de$ ol
Fa$arnWb€lGontufielrdr6r' s'd Pbl€opor€romic
pelihsdrisbccnEino
anprit'olilehci{EanphiboEe,co{iin€nld
orunocrsmal8hs oldffcofiFnal! oih6
qudrtiles
kyaft'leandstaurclib,
andmatr€.Tnsc€ntdshieldandocqipyav€rysmallp6do1!l3bas€m€nt
rc.ts$gmsnl,rcforr€d
lo
ar
lhe
Hagar
T€rc|n,orhndstom
pa'tollh€shi€ldandlle majorc'mlatsofNeoprol€rczob
rh68&kaBiveruprolhi Adobha
Abivallsyinrhs€a51,
andjuvonil€
k. 8t0'070Ms)condna.rbl-maEinal
andcomp'i,€ss€v€lalla4eelliplicalbodl6solvaious
intaoce$ic
maldElic'arc
rc.ts,InEdtss,he b4mlnl
t€clonic
unilshal &6dominantlv
como06€doloceanabcls ,n rctruI stdiedd€spl6
t6i hid'ninerd
mdg€m0leiits.O.caio€ly,laFEd
pot€ndal.
ns tuogeohgi:lma!6sohr cdnd€ted
cov€r 3ndacdelionaty$Aenc.6olchlodic
acl'idsarcr€€n,inhdaysrcd
te wesldrpd d nlocoultylc€ololyolGathBivst
lvin€pidolic
andchhriuc
melaba-salb,
occ$imalt'intuea)andIhosoulhmpanolt€ county(ceol0gt
oland
dis.onlinuous
rndbhs,andnmganil€roosand
MaiDima/roh6intuo|).Compihdon
haps
oigsorogic
at1i250,000
scalsha!rsrndybssncomDl€tsd
lorlourmapsh€6b.ohorrtdy, ba6od
laEdyonsdtellile
inags

PrecambrianBasemerlRocks

rn||rxffir!08

'rheHagalercindisplays
aneasrle'gingthruslcodact olbasallic
lavai owsandlufislhatareusuallyiound'rerainwilhlh€adiacsnl
segmenllo lheeastTheHagar
inlercalaledvilhsedimenls
oltheDdakiFormalion;and
plalinumgrcup {3)lhoAlarBasa
isknown
tobeprcspe.live
iorchromile,ls compossd
otrccenllavaI ou'sand
goldandcoppe.
elsmsnls,
nick€1,mineGlizalion.
fte
volcdic@nes,
vih minor
acidlo interoedialevolcaniG,easiemsegment,
lheNakJa
Terain,isboundedbynainlylrachyles,
ftyolltes
igniri-briles.
and
TheTediaryjnlh€ eslandbyh6 nedSea
rh€Adobharoivall€ybasalts
ee curcnlLy
aclvelyexploiled
ioragqregales.
escaQmenltolheeasl.ll lsoadeupoicalcalkaline
TheTediary
Sediments
volcanic
andvorcanoclasl
crocksconlornabu
oveainTheTodarysedlmeds
aaongUre
RiflesmQmsnl
and
bya ftelasedlmenlary
sequenceolchLoite
schists,
incenlGlAjaL
Three
sedimenlary
iomal
ons
have
been
gils andpolymicl
pelilic
clnglomeralos
lriilhocc€sional
DassolFormalions.
soricilo
schislsandmrbonates.
Themelavolcanlc
rccks idenlilien he Danatil,Dogalland
TheDanaki
andDogaiFormaionsareollaleTenia
plulonareiniruded
byva ablydeiomedc tohypabyssal
ageanda.ecomp6edmainly
oi limeslones
inlercalaiedcalcalkaline
bodles.The
sequenceisculinplaceswilhclngiomeGlicsandslones
andsilhtones.
Tneyarc
poslkinemalicbyandgabbrcs
andisalso
aranites
bydlcafeoussandss lh colalre€fs,padly
Iransecled
byseveraL
iarowshearzones
sub-parallel ovedain@Nislins
oi pebbles
ol vohanic
origin,andEawls
tolhercgional
dike.TheNakfa
TernnisconsderedloTh€DesselFomalion
reprcsenta
reclisland
afcassombage.
SevaalVMS withsdd, sillandclayhodzons.
comfl
sos
saidslones,
clays
and
li nebedsol anhyddro(Volcanogsnic
Ma$iveS!lphide)basemelaloccurieo
ces
y oveyinglheDoqaliiomalion
andqoldshowings
areass0ciatedwiththistectonic
unil. andhalleunconjomab
pad
n
ihe
nodhernollhecoasl,lr'/hile
lfs R6dSories
Thesoulhern
sogmenl,
TheDanakilTeGin,
iscomposedcoarseclasliclrcshwale.sedimenls
06upesoJmeiamorphic
rcdcwhchmaybegrouped
inlolhrce conlainingpanthesouthehdftecoasl.
(l) riig'nalitic
iomaliomt
homb
endebolihgneisss;(2)a phyllitic
lomaiio.@Nisringoischsrscoigomeraric Oualelnary
Sediments
phylliles,
crysralliie
llmestones,
andgraphilic
schists;
andevaporlicjomaliod
olbeddedhail€qypsum,
graniloids.
(3)post.teclonic
qeologic AthickFecenllycompiled
polassium
andriagnesium
salls,
wthshellmapollhewhole
counlryar1:1,000,000
scale
hNdividedanhydie,
male
al
li
lls
L\e
bsin
n
the
Danakil
Deprcssion.
D€posils
lhoFrecamb
anbasemenl
rocks
inlo7domains
5groupspreseitsil,sandandEavelarc
presenlalionoisheeiloodleraces,and3lormaions.lr sdn orarioredehiled
in
some
ocal
on
s
occasionally
fedbywindcoveollhorockunlhollhecomlry- blown
Basallic
I owsandsands.
rclaledspatercones
represent
Mesozolc
Sedimenls
oualernary
vocancaclvltyinrheDanaki
rcgion.
the lowerMesozoic
sedinanls
arcrepres€nledby
MINERALPOTENTIAL
OF ERITREA
lhsMabel(AdigGl)
Sandslonewhich
outcrops
nrhe
panoi$€counlry
soulhemandlnlheDanakilarca,
and Erlte6hasalonghsloryolmining,
oespilelhismodem
yiscommoninte.ca
atedwilhsilrslones
andhaomatilic mining
began
allhebegnningollhe20lh
century
layeBll liesunmnlomabry
overthinlayecolcon
lollowing
lheltaliancolonizaiion
otihacounlryAfterglomeralc sandslones
which,
inplaes,appeaf
tohave $e Sacond
WoidWa[mining
andrelaled
opeBtiomthechdacteistics
0i aglaclal
deposil.
6nllnuedlhroughour
rhecounlyjallhoughnlenri
ltently.
In
lhe
early
sevenles
lhis
resu
led
in
lhe
development
Ovenying
lhesandstone(Anhto)istheJura$icAdaito
mod-emrninealoebar'va,
belorelhe
Limeslone.
f isunilisexposdovera largeareainlhe ollheshodived
rndependenceslruggle
forcedils
Eolosule.
lrca
is
noui
Danakiland
ismadeupollimeslones
lhalarcconpacl,
known
lo
host
signiJi
cant
VMSdeposils
aswellassh4r
pa.tlyshel[4lo$ililercGandayered.
Altemalonsof
goLd
hosleddaposils.
Ilref
6l
modem
mine,
Blsha
quarhilic
laye6arepresonr
inlheiowe.pan,whilst
prcduclion.
VMs
deposil,has
prcjecl
shned
Xoka
has
padlhesequenF
lowards
lhoupperbecomesriainly
compleledleasibilily
work
and
rhorc
are
olhar
advanced
gypsi'eous
lo dolomilic.
Tlrsuppersandstoneloms
prciecls
andmany
orploralion
opeGlions
unde ay.
pockecolsandslones
thalhavebeenprassfledfromConsidednq
mrch
or
lhe
munty,emains
unexdorcd,
sroslon.
commonlyrhissandslone
ismediumrocoarss
porendaloi
esindicale
lhehlgh
mineBlganed,lighl
qua&ilic
coloured,anddonnandy
bulpantylhsediscov€
golddeptsils
lhecounlry
Theporenlial
lorsh€arhostedisalsodemonstatedliomtie rec€nt,
gotddiscov€ry
inTediary
Volcanics
andSodiments
zafa,silualed
6longa maior
shear
zonelhattunsadoss
isnoiwelexplorcd.
Ther€
Ihefediaryarevolcanics
canbedivided
intothreeunib:(1) lhecounlryThecounlry
prospeclive
many
areas
ro
srill
bo
dlscov€red.
Eitea
uieplateaulomingTeniary
prcdominantly
basatslhatdea georogica
setinglial islavounblelorolivinebasa
lswirhlnlercalalions
olinteimedlatelavas possesses
prcciousbolhmelals
and
base
m€tal
minealialion,s
andluifsi(2)lhelowsAIarslraliiedbasa
tscomposed

09 rst||A8rru$ csrsHn2[[

o, E′￨:′●●

皐￨「目≡r==―
■

=―

‐ 一

―
■―
‐

日― ヨ三菫■‐―一目=¨ ……=

‐
●●

壼

:″
″
FE′
, & G ″ Юま ●1 " ″ ・

…

一

一

一

ー

olhe hbbrlc
hinorals.
Th€langeol idenlif6d
county.
Tileavorag€h€adqnd€sinmosrw€llasl0rindustial
polsnllalgoldpr€clousgoldlhellallancolonlal
deposils
covors andofiermohls, vsln miieslhalw€r€&livodu'ing
polymshllio
quadmassjvesulphld8
vein
and
rim6
up
r0
lhe
lare
1s50s,
tt€rc
r€porl€drobeashigh
and
lp€s
quatE
gL
good
Edbor6sloclwoi(
lyp€old€posiL.
Tlercisanindicalion as25- 45 silhreasoftlly ftcove,ie{,jnqual' v€ins
goldninen{zarion
isusually
lorf'e odrcne ol Ni*€latdchrcmitede{dilshosr€dandlo he ultaDalicaid inD.nidarinshw zon€6
sodalodasso.ial€drcdsin$€larndlhoihe
stod(mdG.
{ib l*ic volcanicrods, dioilicintusions
andinwdols
d'arde teq!6ndy3ub.paranel
tohe stic ol$opobshandsulphur
olminaH€
wapoalos schists
ocourcnc€spmnounced
cleavag€
0l
ri€
hosr
m.ks.
occur€nc$ol
inlh€oanalddepGssion,
hasno, hecome
apparsnl,
gold
VliSd8posils,
andinlh€$€alhol€dwithiierhalalivo
ncluding
hatl€,
andavaieqolcomtruclonmal€'ials,
andsupe4enozon€sovodyinqlhen,arcb€comlng
g.anil€parbotho counlry
andolhs$insev€|alisalsomo|gdider wihrc.€ntaddilional
disodedes
ol goldln
D€b$saandAdiNobs0n0lecenr€lhigland6),
andsl
Gold
Eisha
andHareiali. 0'snssl€lnlo$ianbl.
R€.enls9lo.alion€ctxi!€shrvdprcved
dElgold
giana€
Por€nr*r
to lor glld€bulkronnag€
icr6d gold
paisol Errrr3a min€rali2alims
deverywidespBad
occurdm
inmarrypansot&€hawb€n indical€dinvarious
and$s count]hasgrsalpol€ntal
lordevdoping
nore
golddepos
ls-Inadditonlolh€previously
knoMalsas
lletalDeoosits
god occu,enc€(!filch Baseol pdmaryinrh€c€nnal
highlands
goldr eld),tDse0l
lnclud€slhesocalled
Hanasien
NNW
lo NNE-L€ndingb€llol gossans,exhalaliv€cnois
Shilalo0nsout'weslem
lo*1mdsl
aiea.andlhoseol
andaltsedlelsicrock3
hatarsindicarors
otmar9v€
pai. olc.ohemEit€3,e4loratbn
adivjry
inhe lasldecade sulphido
minsali2alion
alorc.odedinmany
ias snM d'eFesene ol scononic
an
EdfeaTneo.esolhe6€mr{*w slpnidedepoGib00ldd€podls
lhewrsl€rnlorlanifs
and€lsoinUErcdEmpsnoItrs arspEdonnandy
dahodle,Mle tih ninofan unls躊

olsphalele,chalcopyrile
andbomite,
A majorbeh
ma, clayandgypsun
closeIogelhei
Saileo@urences
gold
0tmassrve
sulphdedeposl\tilh andbae mehl
haveb*n idenliJi
sdaroundIheHeieb,MelerandpassesmineBiizarion
throughtsmalaandinctudes
Glrarcawadis
lo lhenodhwestotMerca
Gutbub.
Baile
Deba^ya,
AdiNei6Embaderhoandmanyolhertocaliriesveinsalsooccur
associaled
wllhlautsin$o sedimenlsolrouqhly
wilhina50kmwidebeltovera stdke€ngflr
oi 250 lheDogali
andDesser
Fomar
ons.Olherbadledeposils
km,e{ending
tom,morerhan
50kmnodh
oiAsmara
up ofeconomic
signifr
g6desol95-97%
cance,
wlh reponedlo lhoEiheanboderlolh6south.
Thebeltthalircludes areknown
r0exislal Deb aandKetina.
lheBishahgh.gradezinccoppergoldVlrS
depos
r and Construclion
lllale als
HaronaVMSdeposrsintheWslemLowhndshm
Large
depos
tsolmadlealr€dyprcved
occur
d belts
running
theFesence
otwordctass
nodh
deposits&disalsobengexplored
Adilbdimso htoGerenltl
toradditmd discoveies.
arcm.
Tnere nonheastlrom
quadesHowever,
lherc
de
lew
a.eindFtions
ofsimiarvMs
oiMarblelnb6emeraldeposits
cogneandlanhetnonh0iKe
possibysuroundingGoEnda
areawhichaGsituarei€bet,Harabsuitand
atIhemidde olthebetr.
SimilarbeI
also
occursarcas.
Thereisa beitolcopper
iurlher
wesl
and
runs
ironA€buminekizationinsourhwards
roGuluj.
Fa,innonhorn
Erilrea,a beI oinabaSenaii
gossanous
area,suphideiich
ockinMlmarbeoccursin
AdobhaValleyae6
otherslgnifcantTullului(Bedeho)nsahel,nodhem
Edtreaaid
inMl
m4be
deposils
occuralAflrimbol,
Ambedeb,and
Ml.
Secc andShebareas
inlheEaslorLowtands.
Al(inrreuppefva€yolBarka).
KurukrBisha,
au/orld
classdeposil
oiprecious
andbasemelal
TheKerlse.Komre
VtlSdeposil
hasboanlound.
andDebribtack
andglaymadie
Elploalionnldi Nehs
deposils
VMS
sllowsgmdingoccursoulhofDecamharc
9,0melresg/lAu,285gl Ag,
andhavebeen
11.91
exploiled
lor
a
long
rine
3.18%
Cuand11.05%
Fecrystallised
Znandinanoiher
limostone
deposits
tesldrillNG
wilh
vafegaled
043D 5.25
gBdingg/tAu,
colouBoccuatDichinema
metres10.01
g/rAg,
arca,]n239.8
lhesoulhwesl
oi
E
l.ea.
6.77%Cuand6.77%
Znhasbeenobtained.
Granitesofvaious
mlo!|sReseryeaid
lexturcs
eslmalioimade
recelyhasshown
areexposed
overlaryoareas.
G€niteslhalminab
ezinc,
qualily,coppergold
0fdimension
slone
addass@iared
whcharecurenlly
ls paenl nAdiNeias
boing
expoiled,
g.anile),Enrbaderhoisnowemerging
occualGeeb(pinkasa lafgebasemebts
andnIhetualo,(ctrZn)(grey
qranite).
Korbaia,andrukul
dapositwilh
some
qotd.
a@as
Ihe Mai.mine
assmiared
Bosource
ghnileglan
eslinration
issliI goingon howeverandElabered le afoalsosuilabl€
candidatesal{tisstaqeil s conti
medlhatitisabigbas€
Jor
dimension
slofe.
A
narow
odcropoi
corallimeslonemehtdeposi
overattin
temsoipolenlmineral alassessment
alonglhecoaslfromrheheadLard
andgeolog
ol FasKassar
cstwo*,much enends
l0lhecoadineoillo.
orliemunlryremans
une$lorcd,
lmmensedeposirsoJ
mestonedespilerh€soveml
occufin$s AdaiLo-AitNh
discoverles
lhalarabsinqnade.
areasoulh-wesl
olTto.
InduslGeolhermal
alMinerals
Polential
Polash,Ednonicexploilalion
syvteandgyparm-beaiolgeo$emalhealfor powenqevaporalesI
occur
genemlioi
possible
alColluli,
sourhappeaG
ofBada.
Sout\BoLiderindfl{elared
volcanlc
MiningLrd,rocksa@mpanylooking
lorPohsh
Atid,
Nabrc,
deposltin
lhesourheasteminlheFedSeaFifrafeas
andDubiareas
marginoidteevapomle
largels
deposls
asgeothernal
activilyinDankatia,
haveshown arclhemain
inthasearca3
theirhopeIodiscover
lo beinlansieLower
Polashlariperatuie
deposil
inbilionsojtones isknown
aclivrly
also
Subshnlial
occu$atMaiwuui,30kmswestoiJ\rassawa.
deposils
olgypsumoccur
atDe$erdoa,
Geotremal
no.lh-west
evidenced
0lNlassawa.
Larue
bytumarcles
deposils
oi cornmon
andholsprings
wiUlsall aclivi\4asooccurenoisive
alseve6places
a[eration
onrhoground,aongthaRedss co6l
arcabundant
inihe
geolhemalquanlConside6ble !esothiqhquatity
lieLd,
Studies
caifiedsiticaoutsoturinthis
arcioundal Alid
Merber,shichareaindicalelheprcsonce
hasbeenpossible
oxpto
tedtorgtassoiamanulacMng.
subsuda@highh add!on,depos
lsolsrcasand.eseivoir
withtetdsparo@ur
fte goolhe.mat
maniiestalions
al lempemluGalvaiouswadls
Nabrc
prcmising,
0l Erilrea.
andDubbiarc
Highpudtyt€tdsparsalso
omr inbultudher
sludywitl
pegnaliles
ai Lahazen
35kmssouthb sslimaie
thereseftoir
otMassawa.
temperatuis
Sub berequned
emnom
cdeposils
oj mica,whchwd onceexpoded olherPotential
byrhslhlians,aretound
soulheaslof Lahaien.
Large
Thsgeology
otEdrrca
islavoabt€
torolherrypes
deposils
oi iaolinoccurinlhelalerilchoizoninpads
ol
oilelaimni,
atAdiKoteio
dNeroAdiKwda,
AdiKeih,Z€ghlb,AdlHawusha,
AdiAhdercm
andsesldd
A Potediallora ow-gradebutkton
nageganirohosled
s0ulhw€slareas
ol Himbidi.
Exlensive
deposits
otlheraw goldmineralizalion
havebsenlndi€ledinvaious
maleias fofcemontmanuiacture
aretoundatAdaito, vaiolies
0fpresynreclonic
granttes
andfitdoglanites.
coseroTiolillr aI theconsiituents
includinqtin€stone. llo.eove!
Cu,Cu+Ag,
Cu+Ag+Au
skam
syslenshmas

11 Afr nnflr f,mMmfl$2op

gEnil€.Gabbro
been
indicaied
wheE
madle
h6 been
pro$malgoologymappedasinavolcano
sedimenlary

︐

1城

′

︐

Similady,
he r€ionalgeology
hoslsyounger
nonsullide
Zn.Pb.Ag
sysloms
inM€soroiclineslonewhichhasbeen
af*ted bysubsequmt
dffing,volcanismdd assmialedgeoh€rnal(Yenen)acriviies.
Eg.Jebari
nmsurfdezinc
deposndnlainsanappbciable
resore.
9eologi6l
geological
Thercisasimilaprcsp€clive
inlhe
seningsoutE cd s$ rcgonwhich
couidhavea poleniallor,
welld€vdlopod,
simil non.sulfide
syslems.
Variely0lrccklyp6sar€loundassoclared
wirhCe0ozoic
inEdlrea.
Th€geologicalvolcanism
seiingisiavounble
lfi vaioustypasinduslrial
mneEls,rccksandnaluBl
agq'egales
E9.Zeoliles
andzeolilic
lufs,ponib,puhce

´︐

(ANS)
emeqiig
TleAnbian-NubianShieldir prcsendy
proMm
s aroiortanlalum
rnininq
rih unomic
Mialed wirh1)poralkaline
atued$nir+
dsp.sirs
qnnil€(Ghu.ar.yah,),2)p€.aluminous
alkalileldsp
gEnr€(AbuDabbab,),moscrvire
and3)
albitepeGluminousspodumene-dbile
peqmatle(K6nlicia,).
Inaddilion,a nunbdolsubomnon
clantaluminincmembeBmineralizalions
occur lhsANS udingor
eacholhe drreo
dsposlt
styl$.lnErltea,Thqeisa
goodpoteniial
lorTanlalum
mdREEaoig vado6lypes
pegmalitic
grdilebells.
olpegmatles
and6ss0cial€d
A ponion
ol
lhos€
has
l@ked
allor
oi Me
behs been
apolential
TaTREEnine€lizalion,
aprelimjnaryrcsu[
ilnidrB dElrheb€ft@!ldbe. prmpecrive
one.Inediscov€ry
olzonal€volulion
ollhenellirom\inichthe
pegmalite
bodiesconsolldared,
alinityofpegmarils
Ioberyl.columb
le sublype
aswellasthedscovaryoi
promising
emnomiFlly
typos
ol pogmatiles,
lheAlblle.
chpogmalil€-alpilas,
malsslhewhoabgllwodh

・

Phato.PtEnntites:Coa6egraired blacktowhaline
tlt.lapea within a &,1'ilnh?irlt httkpdr (?etthire)oJ
Peghdit. fto vry.oare Srdittd bl..ktoundtin. and rcdgdn.t .1itp.6.d or .lb.ti.*l peahiteoI
p.snlntite bodf ('ri.\lle). Bi( btlt (lltak ol to,n\linehon k Jettls?N.lbite/Oliga.lde p.tihit. quartzn6.orite/ teghnt it. (boroh,bdn (F?i ana aso1dkd(Pihk-otunge)in Etitft.
EnhitasABIIIARI
ttllt{mC0Xftn ftA|s 12

BishaMiningShare
CompanyBMSC
A SOLIDsETOFOPERATIONALNIsUIIS FYR2OT2

LookingbackonFYR2012Edrtea's
onlyproducing
prcducodmineagain
anaxcellenl
selolopeEonal
resurls,lhes€rssutsweredeliwred
onaloundalionol saleFaclice
rhrcuqhou sal€lyvisionot everyone
goinghomesal€aid h4lthyeveryday.
Th€BishaMinerccod€d
ZEqoLnsanda nlFRot<0.mforlheyear
These
opqarional
lesuls6aebetow)
ee woddctass
andarol€slamdlolhededicarion
andhadworkolour
employees
andth€people
olErftea.

TCAN$ITIOTOCOPPERPNODUCER
TheBisha
Mining
ShdeCompany
trnsilions
lromaOotd
producef
lo tlal ota major
prcducer
Copperintho3d
Quanerof2013.Conslaction
wofthasprogrEsed
overlh€last24monhsonthenewCopper
Fioatation
Ptant
concentale
lEnspod
andponhcililiesd Pon
0ncluding
Massam)lo welandhotcoomissioning
andlinalhandover!fiatisschsduled
du ngSaptomber
2013.
Th€padnerchip
betreen
BI,SC,S€NFIandSEGEN
has
pDjecibeing
rcsullEd
intis majorcompletsd
1. SaLy - >2,smittion
LTIFH

Fig. Crpp eI Floaldtion PIdnt,(to?)
Trdns?orttruckt (bottoft)

Thisisa remadable
achiovsmenl
inaNrenrindusty
lrendolovertuns
andsrippage
wihr€gard
toprciecl

2012

2011

1,591,000
58

ph4. pr.*inp, bnn.s
CoppPrШ,ヽ30z00o■80o000

621

755%OfgddGoldIn dod, ounc.sproduced
169,900

Goldprlc. r.rliuedperounr€s !671s 1,659

Clrh cct p.roule.old

13n S M I n A m t t G H m 肛

s 3 rz2CII

s 7,620s 1,s72

YacobDewarVMS/GoldCapan Opportunity
for SmallScaleMiningDevelopment
Andiamo:The Company
一一

rsucc$aful dFcov€rgrof ocononicgold daposit.a prlvstocompanyh3od in London,uK.
.Op€r€llng!^,ilhexcluslv€locus on Eritrea.
.T.rgellngon v S andsold€xploratlon.
.H.! b6lngoporatinsin Eritreafor tho last 4 y e a r s
managomont
in Eritrcao v e r 1 8 ソ e a r s.Hlghly€xperi6nc6d
1

Financing￨

Ra,sed uSD 10 1 m private!
・
―

―

―

￨

ExploEtionAclivitles
Basedongelogi€l mappin!,usin! slaleor h€ adailoomegoophysiels!toey,groundlP 3ndg@iV g€ophFie
suryoy6.*r€llit€ im39einlepreialion,andrcckchipandsil
s.mplinsandlano ExploErionh.5 identlie! moe lEn 20 pol€ntul
Vol€noganicMa$iv. Sllph d€ {VMS)laE€t €G.s inoluding15
l.r!.ts ior gold.xploElion.
Followoo mr{ don6.nd idenff.d imponantVMSb.lt 6nd
sh.mboiai andGurgu goldb€li€t H.ykola.
and4475m of Rc
so lardlenondd llinqpEgEmmeof 3766.7on
hasbeiigcadedoot.
ddllingand
36mair@reddlingpbgrammo
Track Record o「Discoveries

Dittwered Yac● b De●arVMS(2010)Adl M。 lrey vMS(2011)
ShamOo● (2011)ond uawk● 日y(2012)Oo O,rOSpecじ
Frabtt VMS(2013)‐￨,●
りl ty、
vⅢ,,olやoob De中「"Of Pre re,■ur●
●br YB∞ b
SRK(UK)hBs pr● du醸 ョ43 101 ComplantRo∞・DD″ arox Oe g。 ￨‐ p
prOdu∞ O a prelm naγ melalutti‐ ￨Mi■leK of Sou●Afn・morkrep●t
Soda and EnviЮ nmenね ￨ 蒻 ine dud e,Currenly be r9‐ med・lso ●y S obal R3murOes Dovolo,ment CO■ Sulla■

よn g 叫o 9 n m m e d un g 2 0 1 '10nお
Shanわ otal・C rgrr ae″
Caried outintense exPloration proOramme in Shambotai and Curgur are35
・tD !!19

YacobD€warand
1378.60m drilllngcampalgnduringMayJun€2013in Frataka,'Compl€ted
prospectarers.
Shambotal″ :D̀rra wlllems
i ね′ 角o′β l l F 翫o ●ρ G o oOι sere eerlepi Slep力

O●″Htter"=、,cay lla

CFO
No"α
oo●
lr7 ,″
Cl● ∝ lor″o●● Ю o "o
lrye助
Co●
M3″ ager f″ l ea
",γ
cヵrer
F●●●。″′0″ ■ゃ′Explo lron ttanager

W,,い

o

●● H , I, 卜, ぃIltⅢb̀ 0 1 ●● : O V ,̀À●子●￨ ￨ ●
1 207":躍●h● ● ●面 ●●●●x● ¨ J¨ ῭￨● nⅢ O● ● o ¨ ×J● ● ￨¨ てぃ‐ ●´ ￨￨●¨ x,lolヽ ￨¨ て●῭LⅢ

ASII|ARA
M niG[0 fnEiff 2fi3 ]4Pldnedmimprcduction
isplannod
tocommeftce
byth€yd
pldned,liid Ot 2015,
As.wn
nim lih isbas€dp€lannum.
onadstit. millingraleot6m,000loon€s
CaD'lalcosblortl€ minedryeloDfil€nl
6tsfo@astal
US$147oillion.
lhe Koka
GoldMino$'illompl0y
350pooplo
whenlnprtucij:onandwillconsisl
old'obllowing
i.ftasrwctur€:
DevelopingCritrea'3
NextGoldMin€
openPt - n€ lokamine€lised
zonoial . roc|dnks
TheKot8lolddeposir,
locaredduiintE zaAPrcFcr
long$olmore6an650h. Themidnqde rill be25,@
arsaoln0nh€fiEritrBh being
byho Z,radeveloped
loins p$ day,and$ll benin€dwili ansdoltuclG(ZMSC),
MiningshaoCompany
aJoinlVenlurcbah{o€n andbacih$orcavalols
in5mb6nch
confgunlion.
Mo3t
ENAMCOand(SFECo),rhsSFECo
Grcupasuhstdhryollhelleetrill b3!rcoured
foniChlna.
Tlo oilwillbs
ol ShaiEhdi
CoNtuction
Group.
SFECO
ffe alsoth€d€rclop€dinslagos
toprovide
sLlficionl
slockpied
o@lo
EPCcontador
lorlheproiecl.
process
planl
dlq helo coomenca
corunis$ning
as
SFECO
ils
61f{
intercst
inDumhaled
thsZaraPrciecl
lrm Chalic€
GoldMines
inNovefibd
m12tura tohlol Pllcas Phnt TI€p'antds€rign
willhav6a no$inal
paymom
US$80
milion,lnclusive
oladel€lled
ol US$2 planlcapacnyperol2,000
lonnes d6t Duotohe looalion
pourmilliononfirslqold
artheKoka
Gold
Mine.
TheKoka
Oold06posil
hcts aJoRCandNl4:rr01
complianl
Probablo
MineGl8s6.ni€ol4.6fiillionlonn€s
gn0ngs.l 9[ gold,6ttni.g ?00,000
oonces.
T]hreseNeisincluded
wfin anlndicat€d
Fesd@ot5.0
gading5.3q,tgotd,
millionronn€sconr.ining
840,000

Zara

MiningShare
Company

ZMSC

KOKAGOLDPNOJECI
Progn$ lo Dalet. Finalisadonol Pudlasel'lov$12
2.SFECOosignApp@ed
tub20133-Re€et$en€nl
Koka
vattEMar2013
4.cohmonc€m€nt
ol DevtA$ 2013
5.Sir€Prsp
Slad sog€nA$2013
6.AwadEPCContacl
May2013?.Crnstuclion
CmpJon20t3
L LqnAppoved
Jury2013
0r 07m)Tlmelinalo Conmlssionlng
1.P.ocessing
Equip
tnsratl
Ol2015

2.TSF&allS€fvlces
022015
3-PlanlComnissioning
Q32015
Zl,lSCdtinuo !'6 ltghslddards$t hy(ldic?, yithno

'15ff

rE

rrcrEBG2on

Fig2-Cane4et khingPhd

oltE de bodyli0sornoorile016willbeF!ce6s€dIhepla.tpmc€sbalimpleoos,lt
nainssshseon€
doseddr@ir
crushing&singlestag€grinding
toprcducg
a P80gindslz€ol t06/m; Gravity
Conc€ntaton
toremovecoaE€pthickening
orto
loldiPIeLeachprccesing;Calnonjn-l€ach
witiainalElution
ciruitto

￨. th6TSFsleis2 kmw$tol
Talllng!
slong€Fdcilily
lheplanltand
willbetom€dbylhsconstuclion
0lacrcssvalloyembankneni
ala mu mum50mhgh,usingmin6
wasleandto'ro* wilhinlhebasin
area.
Tailings
rill bslr6at6dl0 reduectEnldelevels.
A L5mmHDPE
lid sillplaedbelhrcughorl
he basinandsidoslopes.
Asysl€mol monilodng
boreholes
willbedinedarcund
dreTSFlodelsminelheamounl
olanyso€pags,
WarLSockSloctplle!- Duslolhesleep
lopog.sphy
imilodi,vastedunping
localionsar€available.
lnaddilion
pilelolhelnilialsaslodunp,a mainva$ercck wll b6
localedimnedialely
rsl olthepilandadjaenrrorheprccess
plad.Tnemain
saslero.l pilewillbeover100n
hohandhassulicienl
stoagelor80%ollhepilwasle.
Upgradiiq$e accessioad. Thsseclion
olweslenaccsssroadbeluenKe*ebdandBikeb
hasbeenupgadod$e lravellimefion45lo 2houls.
rcducing
lo.aledonlopola mounlaln
lo h€ sfiih olhs Konal€
lydLr$pply - Warer
wjllbewpplied
ata EreoI34Us,
lroma borciieldtobedill€dinlheallwialqnv€laquile6 CO TACI
z.idiliningShtr.Conprny
llr. U|roKelly,G.n.nl ilhn.gor
El.clrlcrlpow.rsupply- Thepos€rsupply
wlLbe
W.myAvonu.,
A.nrr, Edlr.r
poidedlfomanon4iledi€sslqs eralion
power
slalon SABuildlng,
1
12
ToI
+291
513a
planr
localedwilhnlheprcess
compsingfvel,S00lW
E||AICO:
gsnsralo$,dies€lonelorslandby
prc.
Ac.rmmodtliorvill.g. . Tobeconsttucl€dusing
hb buildings
assembled
onsile.
Hellpld
h6lpadlocaredclose
rolhe- Thsexisling
procgss
panrwillbeusediorbu onlransisls,foremercsncy
evacualions
01nedical
cases
andtneoccasional
tansponotemployees
lromAsmara.

5unridge

Gold
Corp
2013
ZMSC
its@mmuniyconslde$rclarions&enM.onn€nral
couul TY&EilvtBo[flENI

SunidgeGoldiasbe€n
exproringiorVMSbsse
andresponsibiiilies
highuTlishasbeendemonslraled
prccious
melaldoposils
inEdrcasince2003.
Thoqoodwilhlhgconlinued
willbelyo€nrhecompany
lhs
Company
hassuccssslullydefned4
deposllsonlhe
comnurlty.
Fesefllemenl
cofiimilmenls
olape'nranenl
Prcjerbcar€dwhichoursldeoiAsmaia
conhlnwalersupply
sndhousing
lortho.os€nbd
community AsmaE
qold,signincanl
amoudsoi
coppelzinc,adsilvorwillbahlghonih lisrotp oitiosduingtheconstaclion
pnase
Sunddgeh6
now
theshiffsdlo
dev€lopnedolpeiodassill ilsenvionnenLl@omiunenis.
he proiecl
wihfis condelimol a Feasibility
Study
in
EXPIORNOI POIEI{MLMay21G.rheSrudyd€ronstares$arrh€mlnin!ol dllo(Edvanc€dd€posils
lhat
make
up
theAsmara
PrcjeclTIs poldnlial
olrhezaraProjscl
Arealo realise
tunhofDeino,
AdiNslas,
Gupo
GoldandD€bafta)
andminngpotsntial
ishighwihpastdi I ngtothenoilrand {Embaprocessing
ol
lhe
oG
ned
lhe
ldge
Emba
Defto
doposll
golddopos
soulh0llheKoka
l, ld€nlllinqinl€restingisMnomi€lry
rcbusrvrirhaNel?r6senr\tlu6targels.
Thedoposil
conlinues
ard€pt'r
CNPV"Ilo lheSouth.
(1,791Billionolmillion
with
,
10*
d
$692
scounraopli€dDrilliig,geololic€lmalping
dd rc.kchipsamptinghs
NPvwihzebdiscouno
andhe inlemal
Gt6olletum
defrneddorhergold.hearing
nldoglanhearth€06bro flFBlis34%.
Konal€
Prcsp€drnidr islocatedinmedialety
betosthe-IheStudy
oulines
a!hrce.phasesbg6dst d.upmining
sumnilolKonareMounlain.
planwhichproducrio.
wouldinllislo
almosioneyeatTracksanddill padshavealsoiesnpreparedtolhep€l€asibili!
eff ieilhanwasenvisaged
inlhe
FsMousDobre
goldbsing vainshosled
Tsaedahyganiteand

ffflrrrnm

qmmlt!

16

pmduclion
poundswillaverageolcopper,184
studyandrcduces
he initialcapjlal
rcquiromsnls
lo b€
65milllon
gold,
poun&oinnc,42housafld
milLionounc€soi
andlnancedbyovermillion.
$130
per
yeai
lver
comenraie
1.0
mill
on
ouncesoi
sCopperfte Sludyco'rcluded
hatlheplocessinq
ol goldandsilver
andzincconcsnlmls
u'illba
0et'0,Gupo
byheap' {ilh goldandslwl byFoducl
oresnomEmba
GoldandDebaMa
podlacilily
MNawa
tor
shipp
ng
to
transpon€db$catleaching
as1l'61asl[e prcc€ssing
oi coppsandzinc
oeslromEmba
Derho,
AdiNetas
dd DebaNa
bymillingprcvid€s
Powswl begeneraledonsile$lnga comblnalonolandllolalionailacililios
noarEmba
De'lrolhe
iseconofiic
scenaio.
TheEnbaDe0,DebaNa diesel
andmodiumir€l ol1gonemlols.
Walor
supplyoptimufi
ponds
trcm$e caplureoI.ainlall
in
andreryded
andGupodoposils
willb€minsd
byop€n.pil
mohodsand sourced
lheAdiNehsdep$ilbylnderyrcund
miningmelhods.
planconsisls
oulcomeollheSludtSunridgs
Theminingola3 phasedanuplnorder Asa resuliolthepositive
prciecltowori<towadsb nging
theAsmararor€ducs
inirialcapiralcosls.lnPhassl,rh6high-grade con[nues(PhasecopperlA)(dirccl
shipping
orc"oso')willbe
intoprcduclion
a3$on aspossible,
bycomplelingforlhemining
mined,
cruslrsd
lo lesshan10mm,loaded
inloc0nlaine6required
onvironmonlal
studies,
applying
andlranspoded
120kmlolhepln bcililyal Massawa
to. license,arangnqdebtfnancinq,
comfisncing
delailed
sngneoingwo'randhiingn# keyemdoyees.
produclion
Managemenl€slimaleslhaliniliaL
onlh€(Phasegold
Inaddifon,lB)nearsudaceandsikero@
AsmaraProiecl commence
inmid-2015.
wilbeminedlromtheDebaoa,EmbaDshoandCupo'lilldeposisandlrucked
lolhesariecrushinglacililynear
sun dgealsoconlinu€s
r0exdore
irs"pipoline
deposits
Emba
oefioandprccessed
inlle godrccov€ry
heap. onlheAsmara
Prciecl.
Inlhelasl12monlhs
inilialleachiaciily.lre h*pleachlacililyislocated
insideresou@s
we€eslablishedlorborhAdiRassi,
alaqo
got ondelhetailin9s
slohgelacility
andavailable
untlYear5oi
coppelgold
deposil,andKodadu,
analsudace
Dwing
Phase
ll, supergene
mpperores{ill bemined
lrombolllDebafta
andEmba
Defioandprccssssd
alphacennalilolation al Emba
Dedoata noninal
Eteperannum,lonnes0l2 million
CopporconcsnlGle
wilh
goldandsilverbyproductwillbelransponedb thePonol
Massawa!osni€llo$.
andshipped
FullPrcduclion
M beachleved
inPhaselll. Primary
copperandzincorcsnomoebatu?,
AdiNehsandEmba
planlai
Doftodsposiis
uillbepDce$ed
aiaflolalionp€r
EfibaDelho
ai anominal
lateof4 mlliontonn€s
Mehlproduclion
annum.
overlhef61I yedsoflull
Pioto coa .t.lt:agr' A& N.h. vMt depsd(kl\ | art loegnsa D$a' a .anp t'"'sh)SouthBoulder

Th6clossproxinily
ollhercs.urco
cnbddoandgypsum.
qives
producls
polentsl
lh$€
long
l€m
lothecoast
Takinginloaccounl
lhsrcsource
inthsqobalmarkeLolmioeralisalion,
lntaslructule
andlaruelsiz€,deprh
Prcieclb arpdcled
lo demonstalena*els,t€ C0ljuli@lativelo 0h6f
op€ratng
andcaPiialcosls
compebrive
medEd
TleAenculminingEe€nrddd€lelopmenls.

Mines umtted(ASX:STB′

Boulder)Southadvanlaqeov€lconvenlionalund€ryrcund
devsopmenls.
DFS,
Aspanolhe ongoing(ii)in@udue, proc€{sing,gcolFhnicil
nlneplanning,thsocononils,
scaleandlilo
MinssUniredsouhBourda[{sX:sTB,soohEouldor)
andmining
conDrny
isanAostatdMsodsrplo|atonContacls:
inwif'epl0ralion
lic€ns€tu lhsCoLluli
concession
Eilrca.Thoconc€sion
issituatedina
soutlr4asl
PauloonaldsonPhon€+61
86315
144,r
CEo:
younq
uniquely andshallo{'€vapoilebasinc€ll€dlho
pdonaldson@sourhbouldominos.com.aujorwhohbocano
hghlyGle\,ant
DanaiilDepression,
1111162
Mamger
Zoiay
Losko
Phon€
+291
polnhexplonlion
pric€s Counry
ledilisor
anddwolopmenl
tlvh€nd€ake@sodhbouldorminss.oom.a!
ina40?du6roaglobal
defcil.lho SIB
escalared
supplyTssoldepogranAdminist-alor
Solomonexploratoncommsnc€din2009,alddisMrcd Cnftpany+ai 1111162@nLining
highanounLol Phono
amddclasw.pod€d€posil
pohi0m, magno$un,
ddoee@souhbould€min€€.coo.au
sodiomandcaldumb€nngsais.
TnedrEntpotashr€eum @nr.iN1.08tillionton€sbeatingsallsl@18%rcl wlnfi€e loflnsol polassium
sylvinile
camdrlita
dd
kainiteIXCI],
lKMgCl3.6(H20)lma*olinGrcMh
ollh€lodjlis€l[MgSO4KC|.3(H2O)].

rhstuturc
issrppon€dbygoodna*ertundarmnrals,
populalion
gro$handdangingdi€lar]
includingpreterences0tfflsrginoaconomies.
InMay2013heiomalion
iliniN Shareolhe Colluli
easCompary announcod,
wnill isa 5{rs0itnl vsolure
belwerSIB.ndEntm. IltrscomDanv
rfl Lte lh€
prcieclloMd lolloeing
conplelioo
old'eoFS,' l'ict
hasb€enlrogressing
lhrcughoullheyed{itfi 60 koy
oIdev€lopinq
objmtivea pmcessing
circuilllralrcclv€N
allpolassium
bsaing$lts tomther$urce.STsisalso
assasing
theMnonicsolulilisingo{rersallswlhinlior€source,
includingro,"(sall,industial
sat,mqn€sium

ffmxrffiqf,$EGrrs

18

BeijingSinoma SubSahara
Ｃ
Ｓ
Ｉ

ｔ 叫
Ｌ

Ｖ タ

Ｖ
Ｒ

Ｍ

ｔ﹇
Ｐ

ヽ⁚′

ａ
ｅ

ｒｉ
＋Ｌ

′⁚ヽ

PROGRESSINTHEYEAi2013
Beiiin9SinomaMinn9Inveshe0l
EilreaLldsignedaconsullecf
contracr
vrh Ercosp
anCompanyrcgadng
desgn
ngollheddllinghoe,9uidellnesior
Iheddllid9
aclivilies
andlo piovdelhecompany
wlthChemica
A$aysollheco.esamp
es Following
lhallhecompaiy
slgneda conlEcl
wlhGonera
Exploralon
Ddlling
projBclConpany
iorlhedilLing

Resources′︱
ＥＥ

MININGINVESTMENTERITREA[TD

OGORA B RIVE●=I口 =A●‐h cooperalion
wilhErc0splan
Companyand
Genera―Dd nqCompany
ll1eenholes
Erploraloi
wirha rola
dep l h o l w hslc1393mel
he6hav ebee n d d lle d . h . u d n 9
oneinlheIorgravilysutbas
n duinqFebruary
Apl1.
porshmiiera
2013F e outolffieenhoesinreGecreds.
Ercosplaninleereledlhalrheeis
aiautzonei theiorrh
0i thes& andpolashbeds
mayexisl
al350800mele6

PLANFO8TfiEflEXTSTAGE:
Thonexlprciect,lhe
plannedcompany
6 hoesinlholaullzone
intneiodhol rhesreDeop
hore
d llingmayprcve
dilicult
asthe.ea@a oroluncontolled
condilons.
The
company
Iherqhlequlpmentwi$
e4eclsloehployan‑Co.sdernq
these
Dond
rois.lhecompanysladed
lo
0
●
￨￨
‑
negoliatewilhlhedillnqcompanies
nErircalorlhenexl
Fit t Lo.tian al Ln.ne\
slepoJlhe
dr linginlhaMay2013.oicoihecompany
managest0signaconlracl
wilhanyollhed llifg
Ihe550sqkmMogorab
Nodh
Explorat
onUcencecompanies,
il willshndrlng n lhaoctoberorNovember{Fig1).granled
mJanuary201l,l€s
app@x
matelyl0
2013.
I omerresnodholrhsBishapolymera
icVolcanic
hosled
phide
Mass
ve
Addrcss:
Su
dproduclion
EetinqSinoma
Minnglnv6fnenlEilrcaUd{VHMS)deposlwherego
lromanolde€pcommenced
ineanyJanuary2011.
14866:3881
r2 No42r'6nara
Tel08204130
Thevolcaio.sedinref
hryrocks
hoshnglhe
BFhadeposrr
Emailbeijingsinomaminnq@gnail.@mexlendnonhwards
benealhtheMogoraib
NonhELol F or sedbasemenl
mnduclore{Fg 2)andddllinq
(58
dr
holes
ior
10
45h)
dentliedbyan
aitome121,olol"0■
eledtomagnol
c suNsyrssulted
inlheinlereection
otvoicanoqenic
massivesulphidelo
lheweslollhe
Mogoraib
FNerFunher
dilhg oJolher
conduclon
delideda sixkilomele
lodgsulphideminerallsatonzone
lohe
weslol lheMogo6ibF ver Dillingal lhesou$emendoi
lheminelalsedbendpenelraled
Moslacledsulphde{ chlnleruals
bolholwhchconlained
massivesuphideMeral
gradeinle6eclions
lorlhisdillhoe (M0GD
53)andths
discovery
driilhoe (MocD21)iollow:
M0GD53upper
2one(Fiq3)l7n @7 04g,tAq
052%C!l% Zn

MOCD50 bwer2ore:
56m@891● A9,09秘 Cu,0∞ %Znmdudes3 6m al
Cu 103%Zn
130匈1杓 ,10l・
10GD21 0ヽ
co・
θ
γ hoe
uo b
I C o ,0■協 Zn hdud●
5m@74391杓 086●
173%Cu and 2 7跳 Zl
● ●●

ヽ ‐―
―

/

aExdIFhs a. Marue etthae J@d^'ocD2l‑hr \ Phdtantuotrdph olnB.,utPtt'dr.

CONTACT
2‑

Di@to.
fi Doug
Jonss,
Technical
wilhemij,Exploralion
Manager
DrHarry
Lwel2,1292HaySlrcol
Austalla
6005
W€slP€ft,Westem
POBox2890
Pedh
6001

″
嘔
"・ ・
嶽

・
・
亀

鶴

…

飾

￨ ●￨ ●●
コ

￨――

●
I ●B
― L

飾

叫

h

…
な
●●
… A
臨 0

々
…

ヽ

Tel +6189322
3960+61438872090
Mobilor珈
Ⅲ

WaMyAvenue,
Asmala,Edlroa‐Tel +2911125334
ヽ
Mobilq+291
7308499
Fig3.Dtitttus #ionfur tdrgetT2ae.
E-hail:hwilhelnii@chall@9old.@mA minenlogicalsludyollhemassive
sulphide
showslhal
Websiie:wwchalicegold.com
lhecl'alcopydte
andsphalotlo
arcrccrysbllised
andefiibilsindegrainboundary
Glalionships{Fig5)which
medrharrheyshould
bered€hblevlaflolaton
atan
I

H・
‑ A ●詢 籠

ASMARA闘m田 ■田田[201320

London Africa Ltd
LondonAticalld isa &irishrcsoorc$
compary
that
3
holds
$e 8?6tn2Atodal.Omla
exdoratio.
li@n@in
he GdhBaita€gionolental Edtr€a.
Tn€l'tnce wasgradedonginalt
inJuly2010loraninfialdreeya
pedod
dd wasrccenlyrenewed(rd renewat.
20t3soW hasbeenwrysu..esstul!$Urse!€ral
nile9on6.
ior
tE ftmpdy.Tleseinclude:. Discov€ry
olaVMSsysleB
overalleast2kmolsl'ike
lollo$nqreFnldl I ingat(olotceqerinl6Fecling$lphideminemlisaion(semi.massive,slrinqef
and.

Complelionof
Nl43-101
iechnicalr6podonthe(bylicenco DrlucrerBarie)
Explorarion
rodalehasid€nrfied
lou hghtyprcspocrivo
1(770n ofdiamond
Ddllingsudace.
dilling)reveal€dva lu 6 o l1 .3 ? 9 [Ar o vs1
m lr oI m 35mdomhol
including
3.630[ Au@s3 mi. dEquattveins.
Hawesudisttictdmpiss d'e[) Melthbasenetal(ii)
gold
Naddel
and
base
rural
Fcpecl.
Drcspecr,(ii)Hawegu.Eer
goldprcspecl,
Norayaid (rv)Hurut
goldFospecl.Fo*d
psamplEolup9.?
gtAu,
9.99t Agand0 23%Cud€ rcco'd€dandboulqoa&reinhosted
goldandvMsoccurcnces
aeprospo.iivo
inlhisdistjcl.Soilsmplinghasidentfied
sws6lgold
ad copper
in.soilanomafes
mnhyolEngenedslrictcomprisingtho0)Engeme,(ii)(iii)Garsay.Kelin,
Degasay,
and(iv)dinjeh gold
prospscls.Bocl
chipsamp
esolupIo101g/tAu
and
60.8gnAgarcrecordad
fomquatzveinsandiollow.
gI Au
upchannelsampling
wilhvalues
olupro18,58

Himboidislrict@niaining
the(i)Yat€reand(1)
gold
Kotolcdger andbasenetatprcspscls
tocatedLondonAlrlc. Llnll.|lappmnmably
6kmalong
Suile1r,3t J.nyn StroolLondon,
stik€ironeachoth4Rockchipsampling
idedmeduplo4.029tAu,121.6
SwlY60[, Unil.dKi]nldoil
Ag
gGsan€ous
aft
3.64
Cu
nom
mak
al,
and
9[
Floor4 S.c.Burldr.g,
w'l!.lsoilsarnpliig
definedanapFoximalely
2.7by0.6km
stt4
goldandcoppsin-soil
aomalysilha. associatedArh.n, Edlt..
(>0.5
g@ilydomalyat(olol.Gdgel
mqal)
Along
rfxJordoi.tnc..co.ut
std@al Yalare,s€tsalsmatcopp€landgotd
Ern.ll inlo@londoDticr.co.uyelJg€vilyaiomaliessasa
anomaly
re@alsoidatifed.Inaddition,
bolhbse prcsp€cts
havese{€rarlo!$l VTEM
mduclc{targels,whichaE
spaliallyaso{taledsilhlhegeod'emicalsndgiavily
anomalios
prospeclive
makingheBhighly
asVMS
ta'qels.
Fece dnltng{1991motrov€lse
circutalion)
alKolot.Ge4er
inle&crdd
massive,st ngofand
dlsseminared
solphidemineBtisaioi
nhot€sove'
LandEn€rcy
Gmup
exploElionlchina)trdisaChinese
2.5kmoisLike(<100fii),
atshattow
deplhss.g.43m company
which
isengaggd
inexploadon
iorgoldmd
lfom75fi down
hole
al0.6%
cu,0.39/rAu
and13.2 basomolald€posit
inTetawda'Gogne
whichlocatesintho
Tmat!.09%
g/1Au.nd south
Cu,0.29
sitAg,incuding
ollio BishaMining
andesl oiAndiamo,g.lAgandlmal141%
24.23
glAuandCu,2.07200s,lh€have
been
wo ingindkawda
cogno
iol
g.l
23.03 A9.TlireeI mint€G€ctions
ov€l2% Sinco
9rad6dlhan4y6a6.Alilsl, thelicense
aroawas785
knr2
Cu.Anoxidesurlace
capideliliedovd2 tmotstik6 moreanff€xl€nslon
in
2012,
rhe
licensearea
wasrcducedroisalso@cognised
tdir elevatedval!€solcoppsr,
6.9 ;
58tkn2,husLandEnergy
Goupcanlocusitsafiedion
39mnom10mdown
hoteat0.24%
Cu.

LandEnergyGroup((hina)[imited,Eritrea2

Taninay
distictcompdses
the0 laninay
and(ii)0ud.94yeacolwoltinfeld,thecompany
gota
I8blerl3blel
goldprcspects.
souh
Eotharcquaiz
prelimi'raryunde.sLnding
abolihe area,afferconduclinqv€inno$eddd arcpadolnre$moregionatquaizg€ochemicalFospe.ling,g€ophysicalFospecling,andvemsyslehttd iinemitenlly
Mcrop6lo' d€l 6 km.
aclifili€s.Aid il isp€domiog
dilng jnrh€n€td
Fo* chipsamptsotuplo2319t Auand8.59[ Ag Oilling
ighlrft. Acddingtotie Euhsotditting,it islooking
arerccorded
dd soilwpling hasidenbfed
ov€l1I prohising gold
lo
fnd
dd
o$er
base
metat
d€posit
kmorprospe.live
ldd alongsln]J(eioth€iolh andsouhothe ldinayprospeaivs.
bnd a|.r!! crouplclina) Lid"Ertr!.
ChannetsplingalImiiayrcveded
values
Add:tlo.36,tu.i4 snc{itAsnad,EdtE
oluplo 1.59t over22m,jnduding
45 g,tover6 mftom$e qua't2
voinsat Phon.I FlI:0ic0fi3

2i t$mr*[trfiiBltzoB

andrcnl lnisafialaditity.oredutughe Idirn
a61iu'ty
ladl y nonsnall
olgms hdcd roa Htsd prc.es:inq
glaGdtl/o(t 0146ol|lli63n be 8rea.Nor€soorc€s,(tbod1952
goldnhsdisnr'lioi'odinhistdidllllerabre. Jolrnc€
196q.
h3ldortloralihooryant
S.hdiihe€lsisa F valoly&donIon C.n|.d out byS.Lr lll|.f.b lo 0.i!
gold
locl6€donr'e dh@wryolmddcLls€.ooomic
othidoncd
daiaanddabfBim€nlola
inh3 highly . . Ar alDlaisal&basemehlsdepcribinBit€a,located
GISdaldba*
AEb-dNubirn
shieldtisl runson6[iarsid€
oros0€crive
dd eqlipmenl
mrnp,peEonnel' S€iupoli5sld. Acquisilion
ol landsallmagffy
lorgeologicalbor
Ihe Conpany
s6 6labllshsd
in€ady2009lo pursu€
mappng8s$l pdca€
oppo'tunilies
adsi.gfomdeFessed.
geolooicalAbaom
Prcspscl
mapping
alTamb€h,inoccurlng
asa rcsulofho woidsids.c.ediiCrunch'pmspets
and
mck
chip
samding
andTonibila,
pmc$s
ne prcjecl
waiuaton&nagolldlon
laro2008.
conmsnced
inl\lay2009withoppodunities
a$o${d. Boglonal
gsoLogicalmapping/io*
chipsamplingnunberol
Easl
aliicancounl$
incLudingaorcssa
Mozaribique,Egyplmd
lcnya,Tanzanra,
sudan,. tugional
prcqrammorols€dimerisampling
Strcampoc€sszmbabwe.
Afleranexlenli!€€valuallon$schalcophileslemenlsr€lalodlo baseed precious
lwoprcpenies
inEdtoa,nam6ly:
C0rnpanysscur€d' algarc- qold/hasem€lalProis.t(tsldinaJV
Welsilor
w\Nw.s€haminslah.c{mDi.edorltlasdaiSmih
Managing
Prciocr{i00$hsldin EmatAlasd.lr.smih@sal'ami.erab.com' ftrabsuit-gold/ba6omralar EdsalionUd* &€alasftar4,Eitea
Add6rs:S.A.Suilding,
Wa6ay
Avenuo,o'ringQg2012,it b€caned6artoSahar
lt t il noedei El +291
1110000
tose@ n4 liffi
ir Etllresa.,€m€ndtu|scomnitns$onh6 odii.g Licerros.rn Hnab{Algaro
cqid
iol
b€
br
e4lo.ali.n
ft$llst drl€.
Sliq
iusli!€d. Ito AlgdoE4or.rih Lice@vrdsrcllnadt0Jv
h*ls IECEUI
0|lt'6 310€c6mbff
2012.
Sanat
ighb
lo
d'e
Augm
Ucrls8A'8a.
rslaitBm. fte |knb SunEdoralionLic€i1s6
N6srotum€dlolheMinietv
ol MiM M he 2t lh€nb€l 2012.
&lar reldisnonilhblo lh€H€rah
SdlUcanso

Ｌ

ａ
ｅ

ｒｌ
●Ｌ

ｒｉ

● ●■ ●

ＥＥ

SaharMinerals

︐●＝Ｌ＝ｕｌｌｌｌ

Asa conssqu€ncs,
San undsl0ok
an€valuahnol'open'gmund
inEitealhalwould
fieellhr company
locusolgoldiniighlyprcsp€criv€
rsiain.Pdm€
c roiongold
lorslleciion
wasfreexliende
olColonlal/M9anrl
prcsp€clivs
inlh€highly
miningacliMty
NaKal€nalnsul€
olroc*st'al Mdnolund€rgon€
anymodem
dxplor'lion,
gold
ThoNaklal€rainhosls
lhe .ichBisha
VMSMinsand
ZaBGoldD€posit
A numb$old'6rsrvoro
lor
comldor6d
Applicdion,
onlyonearoam€tal Ih8sslsclion
ciloris-FIt 7bmb6aPnsp{t At* o, Topogathl

Sahar
sec!rcd
lheImbeE Pos!€clnoLicsnso
inEfibeaondr€l0 Jarusry
2013,
Tl€ uc€nee
hrslnl6led
Arlilafil ni'ingaB dd js-15rmssou!'sa6t
olllo
goldrid li!r'a'volcaDg€r*ma6siw
Bdpd6f,4rs)

HbtoryIhoTambsa
B!6psdi! Ljcsls€116rhoBbi turo|iJ
id'g
Plait*ih 1aili.gs
nini'{
Itbl€n), hitodcal|lm

Gffizl|l22