| Gold
Projects, Sierra Leone
90% equity interest
Nimini is a gold exploration and mine development company which holds a Mining Licence over the Komahun Gold Project in Sierra Leone.
Nimini – Komahun Project:
- 25-year Mining Licence awarded in November 2012.
- Environmental and Mining Licences renewed and in good standing.
- Independent potentially mineable Mineral Resource Estimate as at June 2013 ("June 2013 MRE"), based on a minimum true width of 1 metre and a 2.4 g/t gold cut-off grade:
- Indicated Mineral Resources of 0.55 Moz (3.6 Mt at 4.69 g/t gold), and
- Inferred Mineral Resources of 0.34 Moz (2.6 Mt at 4.08 g/t gold)
- June 2013 MRE represented a 21% increase in Indicated Mineral Resources to 0.63 Moz gold (4.8 Mt at 4.06 g/t gold) at a 1.8 g/t cut-off grade and 60% increase in Inferred Mineral Resources to 0.42 Moz gold (3.8 Mt at 3.47 g/t gold) at a 1.8 g/t cut-off, compared to previous MRE (SGS Canada Inc., June 2012) ("June 2012 MRE").
- June 2013 MRE has enabled the Preliminary Economic Assessment to be progressed. However, its completion is now dependent on the ratification of the Mine Development Agreement.
- Field programmes have identified targets both proximal to the Komahun deposit and within the greater Mining Licence area for future drilling to add to mineral resources
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