Summary

Mine Type	Underground
Study Completed	Preliminary Economic Assessment
Commodities	Gold
Mining Method	Longhole open stoping Shrinkage stoping
Mine Life	...
Snapshot	The Kubi Gold Project has already seen mining activities in the near past, via two small open pits. As such it is in a "brownfield" situation. The Kubi Technical Report 2022 includes a proposal for early underground development for exploration purposes and a PEA which demonstrates the potential viability of underground mining of the Kubi Main mineral deposit. Previous Impact Statements, other than baseline data, are obsolete. Planning is in progress for an Environmental and Social Impact Assessment (ESIA) in preparation for an Environmental Permit application. An independent contractor will be engaged this year (FY2024) in connection with the ESIA.

Deposit type

• Vein / narrow vein

Summary:

Within the Birimian and Tarkwaian lithologies of Ghana there are three major types of gold mineralisation:
Type 1: Reef, Vein or Lode gold deposits associated with regional scaled shear zones, such as the Obuasi gold mine to the north of Kubi.
Type 2: Granitoid-hosted, mesothermal gold mineralisation, such as Ayanfuri gold mine to the south west of Kubi.
Type 3: Auriferous quartz-pebble conglomerate deposits such as at Tarkwa and recent alluvial gold concentrations.

The Kubi deposit mineralisation style is Type 1: Birimian aged, shear hosted, reef, vein or lode gold deposit.

Mineralisation
The mineralisation occurs in a 1.0 to 15.0 metre thick garnetiferous horizon within Birimian metasediments. This garnetiferous horizon contains fine grained gold associated with minor (5-15%) pyrite, arsenopyrite and pyrrhotite as well as some coarser gold which is associated with relatively narrow quartz veins. Some mineralisation occurs in quartz veins and veinlets that cross-cut the Birimian-Tarkwaian contact, outside of the main garnetiferous horizon.

SEM (scanning electron microscope) and polished section studies have observed gold and associated sulphides such as pyrrhotite, pyrite, arsenopyrite and occasionally chalcopyrite, rimming and often replacing the included garnet blasts. The garnets are often highly tectonised with native gold, often coarse, and with sulphides coating the micro-fractures.

The grades exhibited on the Birimian-Tarkwaian contact (the “Contact” zone) are variable but generally low in tenor. The mineralisation is associated with moderate silicification and quartz veining. The predominant sulphides are pyrite and arsenopyrite.

The footwall and hanging wall zones are comparable to the traditional styles of Ashanti lode gold deposits, with the exception that the gold is free milling and not refractory - predominantly quartz vein hosted within faults and shears, with attendant pyrite and arsenopyrite haloes. Grades tend to be moderate to low, but continuity exists and potential high-grade pods are observed over restricted strike lengths.

Gold is native, is often coarse and nuggetty, hosted within quartz veins and microfractures in the host sulphides or alteration minerals. It is not intimately bound within the lattice of the sulphides. Kubi mineralisation is “free milling”, not refractory, hence 95% expected recoveries. Whilst higher gold grades are often associated with quartz veins and zones of appreciable silica flooding, gold mineralisation within the host selvage proximal to the fracturing is also of economic tenor.

Mining Methods

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Comminution

Crushers and Mills

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Processing

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Commodity Production

Operational metrics

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Personnel

Job Title	Name	Profile	Ref. Date
.......................	.......................		Mar 11, 2022
.......................	.......................		Mar 11, 2022
.......................	.......................		Oct 8, 2024