tulu kapi gold project, ethiopia
TRANSCRIPT
Information in this statement is to be used for marketing and illustrative purposes only. The diagrams and the information herein may not be edited or transmitted in any form or by any means without prior written permission.
.cdr
PAGE 1 of 12Tulu Kapi_Nyota Min Ltd_'09_Technical Statement_Investors_V1InterAction
Corporate Reporting & Identity Specialists,
Annual Reports, Graphics
Graphics By:
- Exploration- Mineralisation- Distribution of Mineralistation- Deposit Type- Sampling Method and Approach- Sample Preparation, Analysis and Security- Mineralogical Studies and Mineral Processing- Data Verification and QA/QC- Adjacent Properties and Competitor Companies- Modelling and Mineral Resource Estimation- Conclusions- References
- Exploration- Mineralisation- Distribution of Mineralistation- Deposit Type- Sampling Method and Approach- Sample Preparation, Analysis and Security- Mineralogical Studies and Mineral Processing- Data Verification and QA/QC- Adjacent Properties and Competitor Companies- Modelling and Mineral Resource Estimation- Conclusions- References
INT
HIS
DO
CU
ME
NT - Key Features
- Introduction- Project Description, General Infrastructure and Accessibility
- Topography, Climate and Vegetation- Legal Aspects and Tenure- Environmental Requirements- Country History- Country Profile and Economy- Mining Sector of the Economy- Historical Exploration and Operations in the Tulu Kapi Area- Regional Geological Setting- Local Geology
- Key Features- Introduction- Project Description, General Infrastructure and Accessibility
- Topography, Climate and Vegetation- Legal Aspects and Tenure- Environmental Requirements- Country History- Country Profile and Economy- Mining Sector of the Economy- Historical Exploration and Operations in the Tulu Kapi Area- Regional Geological Setting- Local Geology
Investors Report on the
Tulu Kapi Gold Project, Ethiopiath
as at 30 September 2009
KEY FEATURES
Venmyn utilises a comprehensive checklist incorporating all internationally required compliance requirements, in particular
the Canadian National Instrument 43-101 and SAMREC/SAMVAL Codes for public reporting of mineral assets. The
information quoted in this Prospectivity Review has been scrutinised in terms of this checklist and prepared for investors
according to the principles of open and transparent disclosure embodied in the underlying codes for mineral resources
reporting.
Mr.Andy Clay, M.Sc. (Geol), M.Sc. (Min. Eng.), Dip.Bus.M., Pr.Sci.Nat., MSAIMM, FAusIMM, FGSSA,AAPG, M.Inst.D.
Mr. Neil Mc Kenna, M.Sc. (Geol), Pr.Sci.Nat., MSAIMM, MGSSA, MIASSA, M.Inst.D.
Mr. Richard Tayelor, B.Sc. Hons (Geol). MGSSA.th
30 September 2009.
Nyota Minerals Limeted (Nyota), previously Dwyka Resources Limited (Dwyka).
Review of the prospectivity and technical merits of the Tulu Kapi Gold Project in Ethiopia.
Public domain information as listed in the reference list, Nyota, Dwyka and Minerva Resources PLC internal reports and,
presentations and Hellman & Schofield (Pty) Ltd.
Mr. Andy Clay and Mr Neil Mc Kenna visited the Tulu Kapi Gold Project in July 2009. All operating areas and infrastructure
were inspected.
Sulphide and gold mineralisation in albitised syenite.
Compliance:
Qualified Persons:
Effective Date:
Prepared For:
Purpose:
Sources of Information:
Personal Inspection:
Deposit Types:
Indian Ocean
Gulf of Aden
Red Sea
LakeTurkana
GONDERTIGRAY
Welo
GOJAM
WELEGA
SHEWA
HARERGE
BALE
Arsi
SIDAMO
ILUBABOR
KEFA
GAMO GOFA
Saudi Arabia
YEMEN
SUDAN
UGANDA
KENYA
SOMALIA
DJIBOUTI
ERITREA
Gonder
Mek'ele
Nek'emte
Dese
Debre Mark'os
Gore
Yirga 'Alem
Harer
Goba
Arba Minch'
Jima
Khartoum
Djibouti
Addis Ababa
Mogadishu
Sanaa
Asmara
44°36°
4°
12°
Bou
ndar
yno
tde
fined
and
inDispu
te
TULU-KAPI
LEGEND:
Main Road
River
Provincial Boundary
National Capital
Provincial CapitalSCALE:
0 200m
REGIONAL LOCALITY
ETHIOPIA
LOCALITY OF GPMC ADVANCED EXPLORATION ACTIVITIES
LEGEND:
Location of GPMC advanced exploration activities
Tulu Kapi & Ankori Exploration Licence Area
Yubdo Exploration Licence Area
Billa-Gulliso Exploration Licence Area
Town
Road
Muklemi
Dobe Kobi
Keley
Ingango
Genji
Homa
Gulliso
Yubdo
Hamus G.
Ayra
Kobera
Soyoma
Dina
ChagoGudeya-Guji
Guji
Tulu Kapi
Yubdo
To Assosa
To Addis Ababa
SCALE:0 5 km
10
30
00
01
02
00
00
10
10
00
01
00
00
00
99
00
00
770 000 780 000 790 000 800 000
InterActionCorporate Reporting & Identity Specialists,
Annual Reports, Graphics
Graphics By: Information in this statement is to be used for marketing and illustrative purposes only. The diagrams and the information herein may not be edited or transmitted in any form or by any means without prior written permission.
Tulu Kapi_Nyota Min Ltd_'09_Technical Statement_Investors_V1.cdr
PAGE 2 of 12
Investors Report on the
Tulu Kapi Gold Project, Ethiopiath
as at 30 September 2009
INTRODUCTION
The route fromAddisAbaba (12-hours away by road) includes an asphalt road,
an all-weather gravel road and a dirt/gravel trail. A 4x4 vehicle is required on
the dirt/gravel trail to get to site. An airstrip is located 20km from the project
site.
Minerva management confirmed with Venmyn that no material agreements
have been entered into with contractors or land owners at this stage.
Compensation payments are routinely made to subsistence farmers whose
crops are disturbed by prospecting activities. Exploration licenses that have
been inspected by Venmyn for the various project areas have been presented.
Minerva holds a number of exploration licences in the Tulu Kapi area through
its subsidiary Golden Prospect Mining Company Limited (GPMC). In July
2009, Dwyka (now Nyota) aquired Minerva making it a wholly owned
subsidiary of Nyota. The acquisition has given Dwyka control of a number of
additional prospective gold and platinum exploration assets in Ethiopia,
including Tulu Kapi.
MATERIAL AGREEMENTS
CORPORATE STRUCTURE
Venmyn was requested to provide an independent opinion on the prospectivity of the Tulu Kapi Gold Project (Tulu Kapi) and surrounding gold exploration
occurrences for which Tulu Kapi is the most significant mineral asset of Minerva Resources Plc (Minerva) which was acquired by Nyota Minerals Limited (Nyota)
in July 2009.
LOCATION, AREA AND OTHER PROPERTIES
POPULATION
EXISTING INFRASTRUCTURE
Tulu Kapi is located in western Ethiopia, in Oromia Regional State, Ghimbi
zone and in the Ganji Wereda. Together with the Ankore area, the project area2
measures ~15km and is located between 9°4'10"N and 9°6'51"N and
35°32'32"E and 35°34'45"E. The project is located 28km east of the town of
Ayra-Gulliso and 510km from Addis Ababa, Ethiopia's capital. The journey
from Addis Ababa to Tulu Kapi takes approximately 12 hours on mostly good
roads until the last 20km which is dirt road.
A small population of subsistence farmers are resident within the project area.
The nearest towns are Keley, Gulliso and Ganji. The greater area has a2
population density of 25 persons/km , according to World Trade Press.
The infrastructure in the immediate surroundings is adequate for prospecting,
but may have to be upgraded in later phases of the project's life. At present,
water is pumped from a local river or trucked in from a nearby supply, and
electricity is generated at the project site by a diesel generator. Comfortable
accommodation, basic offices, sheds and stores are located on site. Cellular
phone telecommunication is available on site.
INTRODUCTION
PROJECT DESCRIPTION, GENERAL INFRASTRUCTURE AND ACCESSIBILITY
TOPOGRAPHY, CLIMATE AND VEGETATION
The exploration site is hilly with incised valleys. The maximum altitude varies
between 1,600m and 1,765m above sea level.
LOCAL TOPOGRAPHY
�
GPMC applied for an exploration licence for Tulu Kapi in January 2005 and the
licence was granted in May 2005 (Licence Number: 127-128/97). This is valid
for three years with two successive one year extensions (as stipulated in the
legislation). The original exploration licence was valid until May 2008 and was
extended to May 2010.
a small scale mining licence for 10 years, renewable for 5 years.
LICENCES
CORPORATE STRUCTURE
100%
Golden Prospect MiningCompany Ltd
Golden Prospect MiningCompany Ltd
100%
Ethiopian Gold Ltd
Ethiopian Resources Ltd
51-73%
100%
100%
Resources Securities Ltd
Lake Sonfon
York Platinum
100%
Golden Prospect Mining Company Ltd
Tulu Kapi, YubdoBilla Guliso
Yubdo Platinum Mine
Golden Prospect MiningCompany Ltd
Yubdo Platinum and GoldDevelopment Plc
100%
100%
InterActionCorporate Reporting & Identity Specialists,
Annual Reports, Graphics
Graphics By: Information in this statement is to be used for marketing and illustrative purposes only. The diagrams and the information herein may not be edited or transmitted in any form or by any means without prior written permission.
Tulu Kapi_Nyota Min Ltd_'09_Technical Statement_Investors .cdr
PAGE 3 of 12_V1
Investors Report on the
Tulu Kapi Gold Project, Ethiopiath
as at 30 September 2009
Ethiopia has an immature economy based on agriculture, which accounts for half of the Gross Domestic Product (GDP), 60% of exports, and 80% of total
employment. The key GDP earning sector, agriculture, is under-utilised and is susceptible to frequent drought and poorly developed agricultural practices which
contribute to deforestation, top soil loss and poor water management.
�
�a 35% income tax on taxable income. Taxable income is computed by
subtracting from gross income for any accounting year all allowable
revenue expenditure, a four years straight line depreciation,
reinvestment deduction and permitted loses; and
�guarantees the opening and operation of a foreign currency account in
banks in Ethiopia, retention of portion of foreign currency earning and
remittances of profits, dividends, principal and interest on a foreign
loan etc. out of Ethiopia.
The Ethiopian Constitution (1994) states that the right to ownership of all land
and natural resources is vested in the State, which can ensure the right of
private investors to the use of the land.
Ethiopia is attempting a land tenure reform process in many areas, since there
provides for a 2% to 5% royalty at production site;
CLAIMS, SERVITUDES, PERMITS AND LICENCES
LEGISLATIVE FRAMEWORK
LICENCES
The Mining Proclamation and Mining Tax Proclamation of 1993 makes
provision for the granting of the following:-
�a prospecting licence for one year, permitting only surface exploration;
�an exploration licence for an initial period of three years, renewable twice
for one year each;
�a large scale (>75,000tpa) mining licence for 20 years, renewable for 10
years unlimitedly; and
�a small scale mining licence for 10 years, renewable for 5 years.
GPMC applied for an exploration licence for Tulu Kapi in January 2005 and the
licence was granted in May 2005 (Licence Number: 127-128/97). This is valid
for three years with two successive one year extensions (as stipulated in the
legislation). The original exploration licence was valid until May 2008 and was
extended to May 2010.
LEGAL ASPECTS AND TENURE
ROYALTIES, FEES AND TAXES
The new Mining Proclamation and Mining Tax Proclamation of June 1993 by
the Ethiopian Ministry of Mines and Energy (EMME) fully recognizes the high
risk nature of mining investment and is now firmly allied to private investment.
The preamble to the new mining law states that the significant role of private
investment in capital formation, technology acquisition and marketing of
minerals is recognised. This is markedly different from the previous
government policy of complete monopoly of the mining sector.
The proclamation guarantees and provides for:-
�the licence owners right to sell all the minerals locally or abroad;
�exemptions from custom duties and taxes on equipment, machinery,
vehicles and spare parts;
�provides security of tenure;
has been a long history of forced displacements and an
acknowledgement that lack of access to, and control
over, land by the poor may be among the reasons for
rural poverty and food insecurity. The project area is
inhabited by subsistence farmers, and these may
conceivably have land tenure rights, since
intergenerational transfer of land was confirmed, and
the registration and certification of land holdings was
provided for, in Federal Proclamation 456/2005.
There may be the possibility that the resettlement of the subsistence farmers
may be required in later project stages. The Ethiopian Environmental
ProtectionAgency recommends:-
�minimising resettlement as much as possible;
�carrying out detailed plans for compensation and resettlement; and
�developing a long-term support programme for the resettled.
A 'Socio-EconomicAssessment Report' has been completed on the Tulu Kapi,
Guji and Yubdo Exploration drilling areas by Mid-Day International Consulting
Engineers in March of 2008. This document has been examined by Venmyn
and highlights affected parties and their opinions and concerns in the license
area.
ENVIRONMENTAL REQUIREMENTS
The EPA recommends that an Environmental Impact Assessment (EIA) be carried out for a large scale gold mining operation, in which the annual run of mine ore3
exceeds 100,000m for a placer operation and 75,000 tons for primary deposit mining. To date no formal environmental requirements are contracted under an
exploration licence agreement in Ethiopia, however, this will be required when applying for a mining right.
COUNTRY HISTORY
The Ethiopian monarchy maintained its freedom from colonial rule with the exception of a short-lived Italian occupation from 1936-1941. In 1974, a military junta
(the Derg) deposed Emperor Haile Selassie (who had ruled since 1930) and established a socialist state. Torn by bloody coups, uprisings, wide-scale drought,
and massive refugee problems, the regime was finally toppled in 1991 by a coalition of rebel forces, the Ethiopian People's Revolutionary Democratic Front
(EPRDF).
Aconstitution was adopted in 1994, and Ethiopia's first multiparty elections were held in 1995.Aborder war with Eritrea late in the 1990s ended with a peace treaty
in December 2000. The Eritrea-Ethiopia Border Commission in April 2002 remotely demarcated the border by geographical coordinates, but final demarcation of
the boundary on the ground is currently on hold because of Ethiopian objections to an international commission's finding requiring it to surrender territory
considered sensitive to Ethiopia.
COUNTRY PROFILE AND ECONOMY
LICENCE GRANTED EXTENSION AREA OWNERSHIP
Tulu Kapi and Ankore 05-Apr May 2008 1st extension 20
2km 100% GPMC
Yubdo 04-Jun June 2008 2nd
extension 2
300km 100% GPMC
Yubdo Extension 06-Dec 3rd
Year Exploration 2742
km 100% GPMC
Tulu-Dimtu Extension 06-Nov 3rd
Year Exploration 702
km 100% GPMC
Yubdo Mining Licence
A1, A2, A3, A4Jul-99 Mining 27
2km
51% earning to
72%
SCHEDULE OF EXPLORATION AND MINING TENEMENTS HELD BY GMC
InterActionCorporate Reporting & Identity Specialists,
Annual Reports, Graphics
Graphics By: Information in this statement is to be used for marketing and illustrative purposes only. The diagrams and the information herein may not be edited or transmitted in any form or by any means without prior written permission.
Tulu Kapi_Nyota Min Ltd_'09_Technical Statement_Investors .cdr
PAGE 4 of 12_V1
Investors Report on the
Tulu Kapi Gold Project, Ethiopiath
as at 30 September 2009
In November 2001, Ethiopia qualified for debt relief from the Highly Indebted Poor Countries (HIPC) initiative, and in December 2005 the IMF cancelled Ethiopia's
debt.According to the Ethiopian constitution, the state owns all land and provides long-term leases to the tenants.
MINING SECTOR OF THE ECONOMY
Ethiopia's mineral industry is not a significant contributor to GDP, with mining
and quarrying contributing only ~0.4% to GDP. Ethiopia does play a significant
role in the world's production of tantalum, with the country's share of global
tantalum production amounting to 5% in 2007. The petroleum and natural gas
industries are being developed and other key minerals produced in Ethiopia
include:-
HISTORICAL EXPLORATION AND OPERATIONS IN THE TULU KAPI AREA
�
�gold;
�platinum;
�iron ore;
�cement;
�salt and gypsum;
�clay and shale; and
�soda ash.
niobium;
While there is no evidence of either historical or recent artisanal mining by the local population, the Tulu Kapi area has been mined (using very basic techniques)
by various Italian firms during the 1930's. All subsequent activity has been limited to prospectivity assessments and early stage-exploration by various
companies, most significantly by the current operator ,GPMC.
REGIONAL GEOLOGICAL SETTING
�
�
�
metadiorites;
metagranites; and
syenites.
The project covers a 1.5km long mineralised trend that runs northwest along
the flanks and centre of a large hill that rises from an elevation of 1,640m at its
base to 1,770m at its peak. GPMC mapped eleven lithological units in the
Yubdo exploration license which surrounds the Tuli Kapi and Ankore licence
areas which are illustrated in the following figure. Tulu Kapi, Ankore, Guji and
Yubdo all fall within the vicinity of a regional north-northwest striking shear
zone that has associations with various other deposits along its length. Indeed
soil sampling has highlighted that the Tulu Kapi deposit and surrounds are but
a single complex in a larger mineralisation trend.
A number of historical exploration efforts have been illustrated in the table
“Historical Exploration and Operations”. Most importantly are the soil
geochemical work and drilling undertaken by the UNDP (United Nations
Development Programme) and the detailed geological mapping, geophysical
LOCAL GEOLOGY
EXPLORATION
DATE ACTIVITY BY FINDINGS
1930's Gold mining took place largely by hydraulicking. Various Italian Firms.
1939 Assumed mining and sampling. SAPIE.Estimated 1,155kg Gold 'Reserve' at a grade of
0.9 - 2.23 g/m3.
1947 Study. Dahlstrom. 4.3 g/t from adit samples.
1966 Study. Jelenc.0.1 - 0.25 g/t contained in elluvial cover of
Ankore.
1969 Soil sampling study. Kochamasov. Arsenic anomalies reaching 2655 ppm.
1969 Geological mapping study. Kazim from Ethiopian Mineral Survey.
1969 -1972Various work including: geological mapping, soil
sampling, geophysical survey and drilling.United Nations Mineral Survey.
Drillholes intersected gold and silver
mineralisation; stream sediment sampling
yielded 0.02 - 0.1 g/m3.
1970's Exploration activities and resource estimation.United Nations Development
Programme (UNDP).
1996 - 1998
Various work including: detailed geological
mapping, geophysical and geochemical survey,
trenching, Mobile Metal Ion (MMI) sampling and
drilling.
Tan Range Exploration Corporation
(TREC).
Soil sampling campaign mapped with ranges of
200 - 3200 ppb; drilling intersected numerous
hydrothermal altered syenite mineralisations;
MMI samples delineated various anomalous
zones.
2000 Geological mapping study. Alemu and Abebe.
2000 -Preliminary Due Diligence, sampling, drilling etc
sampling.
Golden Prospect Mining Company
Limited (GPMC) - Current Operator.Cause for further work.
The region lies within the Arabian-Nubian Shield which consists of Archaean
gneiss and is best described as a granite-greenstone terrain. Additional
weakly metamorphosed volcano-sedimentary successions of late Proterozoic
age occur within the terrain. The area has been extensively folded, faulted and
intruded by Pan-African aged granites and lesser mafic to ultramafic intrusives
and hosts a number of gold occurrences/deposits. A major north-northeast
striking shear zone is a dominant feature in the region.
The geology of the area, in which the Tulu Kapi exploration licence is situated,
consists of rocks ranging from Precambrian to Tertiary in age. The
Precambrian rocks consist of various gneisses, low-grade volcano-
sedimentary rocks with associated mafic to ultramafic intrusions as well as
meta-intrusive rocks ranging from metagabros to granites. From oldest to
youngest these are represented by the following identified units:-
a basement granitic gneiss;
various meta-sedimentary units;
the Birbir Group basement rock;
quartzites;
ultramafics;
mafics and intruded metagabbro intrusives;
�
�
�
�
�
�
InterActionCorporate Reporting & Identity Specialists,
Annual Reports, Graphics
Graphics By: Information in this statement is to be used for marketing and illustrative purposes only. The diagrams and the information herein may not be edited or transmitted in any form or by any means without prior written permission.
Tulu Kapi_Nyota Min Ltd_'09_Technical Statement_Investors .cdr
PAGE 5 of 12_V1
Investors Report on the
Tulu Kapi Gold Project, Ethiopiath
as at 30 September 2009
LEGEND:
Rivers
Roads
Towns
Placer Working Area
Old Mine
Fault
Mica Schist & Phylites
with Kyanite & Staurolite
Felsites & Siliceous
Rocks
Schist
Chlorite, Actinolite,
Talc Schist
Chlorite-actinolite
Schist, Amphibolite
Biotite Porphyry Granite
(Massive, Coarse
Grained)
Syenite
Fine Grained Biotitic
Granite
Orthoclase Porphyry
Serpentinite, Dunite,
Peridotite, Talc
Serpentinite Chlorite
Quartzites
Quartz Vein
LEGEND:
CENOZOIC
Recent - Pleistocene
Alluvials
Quarternary - Neogene
Rhyolitic & basaltic lavas
Neogene (-Paleogene)
Limestones
Basalts
MESOZOIC
Mesozoic
Sandstones
PALEOZOIC
Lower Jurassic - Upper
Carboniferous
Sandstones, dolerites
Neoproterozoic
Low grade metamorphic rocks
High grade metamorphic rocks
and geochemical survey, trenching,
Mobile Metal Ion (MMI) sampling and
drilling completed by Tan Range
Exploration Corporation (TREC) for
which the results are available to GPMC.
The UNDP work from the 1970's
demonstrated that anomalous gold
grades continue for 1.2km along the
shear structure. This was confirmed by
an UNDP drillhole (UN10) which
intersected 0.7m of mineralisation at a
grade of 27.0g/t some 570m north of the
current drilling area. All historical
exploration data was acquired from the
Geological Survey of Ethiopia (GSE)
library and other sources.
The GPMC geologists consider that, in
the case of both UNDP and TREC, the
respective exploration teams were
misled by the regional foliation of
exposed rocks and the orientation of
mineralised quartz veins in the area, and
REGIONAL GEOLOGY AND BASIC INFRASTRUCTURE
LEGEND:
Rivers
Roads
Towns
Project Area
Regional Shear / Fault
Fault
Lower Basalt
Gabbro
Metagabbro
Guliso Formation
Schist
Granite
Pyroxenite
Syenite
Meta-Ultramafics
Meta-Ultramafics
Granodiorite
Granitoid
35°30’
Birbir River
AYARA
GULISODaleti
INANANGO
Anchore
SCALE:0 10 km
ff
ff
ff
ff
ff
ff
ff
ff
ff
ff
ff
ff
Tulu Kapi
Axum
Addis Ababa
Lake Tana
Lake Shala
TULU KAPI
ETHIOPIA
LOCAL GEOLOGY AND BASIC INFRASTRUCTURE
GUJI
Anko
riR
iver
Fako
cha
Riv
er
9°0
3’5
1”N
ff
ff
ff
ff
ff
ff
ff
ff
ff
ff
ff
Tulu Kapi
Ankori
SCALE:0 2.4 km
InterActionCorporate Reporting & Identity Specialists,
Annual Reports, Graphics
Graphics By: Information in this statement is to be used for marketing and illustrative purposes only. The diagrams and the information herein may not be edited or transmitted in any form or by any means without prior written permission.
Tulu Kapi_Nyota Min Ltd_'09_Technical Statement_Investors .cdr
PAGE 6 of 12_V1
Investors Report on the
Tulu Kapi Gold Project, Ethiopiath
as at 30 September 2009
“discovery” hole. Initially, the drilling was oriented in the same direction
as that done by TREC and the UNDP. Drill hole TKBH04, however was
oriented ~90° to this direction and intersected significant gold grades
and confirmed the true orientation of the mineralisation. Subsequent
boreholes were oriented to intersect the mineralisation;
Phase 2 drilling consisted of 7 holes which returned intersections of
several zones of significant mineralisation from at least two of the
boreholes TKBH05 and TKBH07;
Phase 3 of the drilling programme consisted of 12 in-fill and scout
holes totalling ~3,000m. The placement objective was to extend the
strike length and further delineate the structure; and
Phase 4 drilling commenced in 2008 consisting of another 3,000m of
drillcore, the majority of which was dedicated to further Tulu Kapi
mineralisation delineation. The rest was split between the nearby gold
prospects of Guji and Gudeya Guji in the Yubdo Exploration licence. A
total of 34 holes have been drilled to-date by GPMC.
�
�
�
that both parties placed diamond drill holes perpendicular to the foliation and
parallel to mineralised zones hence failing to achieve good intersections
(occasionally catching the edge of veins when drilling down dip). This may
explain why these parties abandoned the project prematurely despite very
good soil geochemical anomalies.
The historical soil sampling data has been useful to GPMC to the extent that it
has helped identify and confirm additional exploration targets. Confirmatory
testwork has been carried out on these historical data, but no mineral
resources defined.
GPMC has undertaken recent exploration activities, the most significant of
which has been the four drilling campaigns at Tulu Kapi:-
Phase 1 consisted of 4 drillholes (TKHB01 – TKBH04) situated at the
southern end of the initial target zone. All drill holes intersected
significant gold mineralisation but TKBH04 is considered the
�
MINERALISATION
The Tulu Kapi mineralization is hosted in Proterozoic syenites. It appears to
be strongly associated with zones of highly albitised, hydrolytic hydrothermal
alteration centred on a local north-northeast shear. These albitised zones
show complete replacement of all mafic minerals to sulphide. Narrow quartz
veins and overprinting sulphide veins slice through the syenite as a late stage
event. Mineralisation does occur in these quartz veins, but it may be
remobilisation of gold from the albitised sections. Gold occurs predominantly
in pyrite, or near the contact between pyrite and silicate gangue with free gold
visible in hand sample and thin section.
The syenite intrusion in which the gold mineralisation is hosted includes
coarse- and fine-grained phases as well, mainly crosscutting sills of
metadolerite and some dykes.
The degree of alteration through albitisation appears to be the key
concentrator of mineralisation. The earliest alteration observed is veins and
alteration of biotite-magnetite within the syenite. The alteration is evident by
syenite being affected in numerous zones of intense albitisation which appear
to convert all feldspars to albite and replace the mafic minerals with sulphides.
These zones range up to several metres wide and are prominent in the core
due to their white colour. The albitised zones contain quartz veins which range
from approximately 1 to 20cm wide, making mineralisation easy to identify
visually.
COMPLETELY ALBITISED SYENITE WITH A SULPHIDE REPLACEMENT
2 cm
ZONE OF SYENITE ALBITISATION WITH CROSS CUTTING QUARTZ VEINS
ALBITISED SYENITE CUT BY A VEIN WITH QUARTZ, CARBONATEAND PYRITE
2 cm
InterActionCorporate Reporting & Identity Specialists,
Annual Reports, Graphics
Graphics By: Information in this statement is to be used for marketing and illustrative purposes only. The diagrams and the information herein may not be edited or transmitted in any form or by any means without prior written permission.
Tulu Kapi_Nyota Min Ltd_'09_Technical Statement_Investors .cdr
PAGE 7 of 12_V1
Investors Report on the
Tulu Kapi Gold Project, Ethiopiath
as at 30 September 2009
EXPLORATION
SECTION: 00
16
00
17
00
-200 -100 0 100 200
TKBH-28
TKBH-09
TKBH-04 TKBH-05
TKBH-08 TKBH-20
136.83
157.57
261.70200.60
251.33
249.60SCALE:0 50m
SECTION - 80S
16
00
17
00
-200 -100 0 100 200
223.85
98.34
249.50
201.85
200.00
TKBH-24TKBH-27
TKBH-12
TKBH-10
TKBH-34TKBH-29
SCALE:0 50m
BOREHOLE LOCATIONS AT THE CENTRAL PART OF TULU KAPI DETAIL AREA
780 200 780 400 780 600 780 800
10
04
80
01
00
46
00
10
04
40
01
00
42
00
10
04
00
0
Pl-320N
Pl-240N
Pl-160N
Pl-80N
Pl-00
Pl-80S
Pl-160S
Pl-240S
Pl-320S
TKBH-21
TKBH-17
TKBH-34
TKBH-20
TKBH-19TKBH-19TKBH-31TKBH-31
TKBH-16TKBH-16 TKBH-06TKBH-06
TKBH-33TKBH-33
TKBH-07TKBH-07 TKBH-05TKBH-05TKBH-15TKBH-15
TKBH-11TKBH-11
TKBH-13TKBH-13
TKBH-01TKBH-01TKBH-29TKBH-29
TKBH-04TKBH-04
TKBH-08TKBH-08TKBH-09TKBH-09
TKBH-10TKBH-10
TKBH-12TKBH-12
TKBH-02TKBH-02TKBH-28TKBH-28TKBH-27TKBH-27 TKBH-14TKBH-14
TKBH-26TKBH-26 TKBH-18TKBH-18
TKBH-22TKBH-22TKBH-30TKBH-30
TKBH-32TKBH-32TKBH-23TKBH-23TKBH-25TKBH-25
TKBH-24TKBH-24TKBH-03TKBH-03
SCALE:0 200m
Borehole Location
Old Mine Area
Adit / Drive
Old Workings
Roads
Plan view
LEGEND:
CORE TRAY OF EXPLORATION DRILLING
PLAN VIEW
251.33
200.00
|
|
|
|
780 500 780 600 780 700
10
04
50
01
00
46
00
10
04
30
01
00
44
00
TKBH_20
TKBH_34
TKBH_17
TKBH_21SCALE:0 50m
Mineralisation\
Albitisation
LEGEND:
SECTION - 80N
16
00
17
00
-200 -100 0 100 200
157.70
211.05217.00
220.00
TKBH-13 TKBH-11TKBH-07
TKBH-33
SCALE:0 50m
Mineralisation\
Albitisation
LEGEND:
InterActionCorporate Reporting & Identity Specialists,
Annual Reports, Graphics
Graphics By: Information in this statement is to be used for marketing and illustrative purposes only. The diagrams and the information herein may not be edited or transmitted in any form or by any means without prior written permission.
Tulu Kapi_Nyota Min Ltd_'09_Technical Statement_Investors .cdr
PAGE 8 of 12_V1
Investors Report on the
Tulu Kapi Gold Project, Ethiopiath
as at 30 September 2009
The early albitisation stage is cut by a second stage of quartz veining that
commonly also contains carbonate, pyrite and minor biotite, sericite and
epidote. Sericite alteration is present in the albitised syenite and especially in
the metadolerites and is possibly associated with this stage. A pyrite-rich
sulphide stage which occurs as cm-scale veins as well as in discontinuous
cracks within the albitised syenite appears to be closely associated with high
gold grades.
DISTRIBUTION OF MINERALISATION
The drill results to-date suggests that the Tulu Kapi deposit is a mineralised system with numerous
mineralised zones for which preliminary cross sectional interpretation and correlation between boreholes
has been undertaken to estimate an Inferred Mineral Resource.
Planned in-fill drilling is expected to confirm the nature of the continuity between the mineralised zones and
to classify an Indicated Mineral Resource. The current interpretation favors a shallowly dipping, 'zonal' style
of mineralisation.
Mineralisation with significant grade values has been established over a strike length of some 600m to a
depth of 200m along with indications of further extension by historical drilling. The southern end of the main
Tulu Kapi drill area contains a large shear zone with a strike of approximately 040° with a sub-vertical
GPMC suggests that there is ample evidence to advocate that mineralisation
is bound by a northeast shear zone which is possibly disrupted by smaller
scale northwest conjugate structures.
EXPLORATION - TULU KAPI SOUTH EXTENSION
Borehole Location
Old Mine Area
Fault
LEGEND:
ff ff
ff
ff
BH11
BH28
BH23
BH25BH26
BH12
BH27
BH07
BH29
BH14
BH08
BH10
BH17
BH21
SIGNIFICANT GOLD INTERSECTIONS PER BOREHOLE
QUARTZ VEIN IN SYENITE
QUARTZ VEIN WITH POSSIBLE LATE STAGEMINERALISATION CROSS CUTTING
attitude. Significant displacement along
the shear has been observed, possibly
forming a southern mineralisation
boundary.
The regional geological map indicates
the presence of northwest oriented fault
zones and it is possible that these also
play a role in controlling the distribution of
mineralization.
Borehole
Number
Lengths
(m)
Au
g/t
3.40 3.9
2.60 21.2
11.90 1.3
3.20 6.9
1.80 6.1
4.30 20.0
3.40 3.7
28
10.10 4.1
5.70 10.0
33
31
29
Assays Pending
27
Borehole
Number
Lengths
(m)
Au
g/t
2.40 4.5
6.60 4.9
1.00 14.4
2.70 4.3
23
2.50 3.0
15.30 7.3
2.20 4.0
4.20 2.5
3.00 4.9
Drilled into Fault
21
17
26
Borehole
Number
Lengths
(m)
Au
g/t
4.00 10.2
3.40 3.5
2.70 7.4
18.00 4.4
11.80 4.6
16.00 1.6
1.00 17.5
3.30 2.6
1.70 4.5
11
14
12
Borehole
Number
Lengths
(m)
Au
g/t
17.70 5.2
11.40 2.0
16.00 1.6
1.00 17.5
1.70 4.5
15.70 2.5
11.00 2.0
2.20 10.5
5.50 5.0
10
8
InterActionCorporate Reporting & Identity Specialists,
Annual Reports, Graphics
Graphics By: Information in this statement is to be used for marketing and illustrative purposes only. The diagrams and the information herein may not be edited or transmitted in any form or by any means without prior written permission.
Tulu Kapi_Nyota Min Ltd_'09_Technical Statement_Investors .cdr
PAGE 9 of 12_V1
Investors Report on the
Tulu Kapi Gold Project, Ethiopiath
as at 30 September 2009
The geological data was acquired by taking geological traverses, trenching
and core sample logging activities. GPMC have gathered geological data from
seven profile lines on 80m by 40m grid in an area of 560m strike, 250m width
Syenite hosted gold deposits are unusual in the ore deposits of the world albeit
that there are a few examples (Kirkland Lake in Ontario), and a definitive
deposit type for the Tulu Kapi deposit is at this stage undecided.
The mineralisation is strongly associated with the hydrothermally albitised
syenites primarily and secondly with the quartz and sulphide veinlets through
possible later remobilisation. What is also known is that the main shearing and
faulting appears to post date the mineralisation.
Primary magmatic layering may be shown to be a broad control on the
distribution of alteration and mineralisation within the Syenite.
Early potassic alteration in the form of microfracture controlled biotite-
magnetite seen in mafic syenite may be a key control on gold precipitation.
Desulphidation of hydrothermal bisulphide gold complexes is a common mode
of gold deposition at many gold deposits.
and up to 250m depth. In total
34 boreholes have been drilled
by GPMC in the Tulu Kapi area.
Most of the holes were drilled at
50 degrees and a few at 60
degrees, in order to intersect the
interpreted southwest dipping
mineralised zones at high angle.
All drilling and sampling activities
have been overseen by trained
SAMPLING METHODOLOGY AND APPROACH
DISCOVERY BOREHOLE
GPMC personal and/or geologists. All core is stored in dedicated core sheds
and under lock and key with a guard present at all times.
Logging is qualitative and based on descriptions of both rock forming and ore
minerals. It describes the different lithologies intersected in boreholes and
should be sufficient to support a mineral resource statement.
The geological and geochemical sample points have been captured using
hand held GPS units with accuracies of between 10m - 20m error. The
borehole collar readings were taken by differential GPS and Total Station units,
with accuracies of between 0.5m – 2.0m error.
Venmyn conducted inspections on a number of boreholes and are satisfied
that the drilling, logging and sampling has been carried out to a high standard
and that the data has been appropriately captured.
The sampling has been governed by detailed geological logging of alteration
zones and geology. It has been aimed at collecting representative samples
from mineralized zones and rock units. The minimum sampling length in
mineralized zones is 0.4m, the normal sampling range is 1m and the maximum
length is 1.2m. The sampling length in barren sections is 2m. Split, half core
samples were collected from the sampling range in plastic bags. Unique
printed sample numbers are given to each core sample and a duplicate sample
number is posted in the core box. Sample size varies in weight between 4kg to
8kg.
DEPOSIT TYPE
SAMPLE PREPARATION, ANALYSES AND SECURITY
Most of the core samples have been assayed at ALS-Chemex laboratory in
SouthAfrica and only two boreholes' samples were assayed at SGS laboratory
in South Africa. Standard preparation procedures have been followed: whole
split core is dried and crushed to 6mm size and half kilogram split 6mm size
material is pulverized. The assays on the pulversised sample were done by
standard FireAssay methods withAAS finish.
MINERALOGICAL STUDIES AND MINERAL PROCESSING
No detailed mineral processing or intense metallurgical testing has yet been
performed. Two preliminary mineralogical studies have been conducted on
certain mineralized sections. These preliminary studies have demonstrated
that gold occurs predominantly in pyrite, or as free gold near the contact
between pyrite and silicate gangue, and testwork has shown that it is
recoverable up to 96% by normal cynide leaching processes.
Specific gravity measurements have been taken from 10cm length quarter
core samples at Water Works laboratory inAddisAbaba and SGS laboratory in
South Africa. These samples were collected from both the mineralized zones
and barren rock units. Measurements were taken without sealing the voids and
fractures with resin/wax and also after sealing the samples.
DATA VERIFICATION AND QA/QC
All historical data is kept mainly in hard copies at GSE library. Handwritten and
copied originals are stored in the Addis Ababa office, a set of originals is also
stored at the Tulu Kapi camp and a third set is being prepared for storage in the
London office. No data verification or QA/QC has been conducted on the
primary data and Venmyn consequently consider the confidence with respect
to the historical data to be moderate, subject to a validation check.
All GPMC data is captured into an electronic database. Only the surface
geological and historical geochemical data has been integrated with the
SURFACE OUTCROP
InterActionCorporate Reporting & Identity Specialists,
Annual Reports, Graphics
Graphics By: Information in this statement is to be used for marketing and illustrative purposes only. The diagrams and the information herein may not be edited or transmitted in any form or by any means without prior written permission.
Tulu Kapi_Nyota Min Ltd_'09_Technical Statement_Investors .cdr
PAGE 10 of 12_V1
Investors Report on the
Tulu Kapi Gold Project, Ethiopiath
as at 30 September 2009
ADJACENT PROPERTIES AND COMPETITOR COMPANIES
A Chinese firm is currently undertaking exploration work near the Yubdo license area with funding of BIRR10.0m committed to the program. Venmyn is informed
that no other operations are present on adjacent properties to the client's knowledge.
current GPMC database. Dr. Kebede, of GPMC, is responsible for managing
the logging process and verifying data and is responsible for checking the
transfer of handwritten logs to the electronic, Micromine database.All borehole
data including collar coordinates have been resurveyed and plotted in
Micromine. The database is audited, generally every three months, by
independent consultants. The last audit was done in December 2008, and as
of that date no material risk had been identified. With respect to QA/QC on
core samples, GPMC make use of blanks, standards and duplicates. Within
one batch of 20 samples, one internal blank, one standard, one crushed
duplicate and one pulp duplicate samples are included. Blanks are generally
inserted behind expected high grade samples and duplicate samples are
collected from expected mineralized samples. The laboratory also uses their
own QA/QC samples.
The database has most recently been validated by Mr. Craske (of Minerva)
and Mr. Churchouse (of Nyota). All data has been transferred to sections, has
been cross-checked against original borehole logs and all sections redrawn to
validate. On this basis, Venmyn consider the confidence with respect to the
recent data to be high, but would recommend that an independent audit is
conducted before Mineral Resource Modelling is performed.
MODELLING AND MINERAL RESOURCE ESTIMATION
No previous resources have been estimated for the Tulu Kapi Project. Hellman & Schofield Pty. Limited (Hellman & Schofield) was commissioned to undertake an
initial, independent estimate of the gold resources of the Tulu Kapi Gold Project.
Of particular significance is the observation that the albitised sections of the mafic rich syenite unit showed more than 95% overlap with significant assay results.
This concurs with Venmyn's on-site observations.
Since the varying scales and geometric irregularity of albitic alteration preclude the development of meaningful enclosing envelopes (wireframes) of
mineralisation given the current density of drilling, resource estimation was conducted using a multiple indicator kriging (MIK) methodology. This methodology
estimates the locally recoverable
resources in the primary mineralisation.
Ordinary kriging was used separately to
estimate the small amount of resource in
t h e s a p r o l i t e a b o v e p r i m a r y
mineralisation due to the relative sparsity
of data within the saprolite.
The MIK recoverable resource model for
Tulu Kapi assumes that mining will be by
open pit with detailed grade control using
5m x 5m x 2m sampling densities. A
similar selectivity and required grades
may be available using a visual selection
based on the distinct albite alteration.
Whether this can be achieved without
significant grade dilution and increase in
waste tonnage with grade based
selectivity requires more detailed
examination.
BLOCK MODEL COLOURED BY REOVERABLE GRADE ABOVE A 0.5g/t GOLD CUT-OFF
Diorite Shear Contact
Geology
Saprolite
Syenite
Basic Dyke
Diorite
Gold g/t
0.5 - 1
1 - 2
2 - 5
>/= 5
LEGEND:
BLOCK MODEL SECTION 80S
TKBH-04
TKBH-02
TKBH-27
TKBH-02
TKBH-20TKBH-34
TKBH-10
TKBH-01
Ground Surface
Projected Shear Contact
Base of completeOxidation
TKBH-12
BLOCK MODEL SECTION 00 LOOKING NORTH
TKBH-28
TKBH-08
Ground Surface
TKBH-05TKBH-20TKBH-09
Base of completeOxidation
TKBH-04
InterActionCorporate Reporting & Identity Specialists,
Annual Reports, Graphics
Graphics By: Information in this statement is to be used for marketing and illustrative purposes only. The diagrams and the information herein may not be edited or transmitted in any form or by any means without prior written permission.
Tulu Kapi_Nyota Min Ltd_'09_Technical Statement_Investors .cdr
PAGE 11 of 12_V1
Investors Report on the
Tulu Kapi Gold Project, Ethiopiath
as at 30 September 2009
CONCLUSIONS
Venmyn's review demonstrates that the Tulu Kapi Project represents a highly prospective gold project within Ethiopia. An initial, Inferred Mineral Resource of 13
million tonnes of ore grading 1.6g/t above a cut-off grade of 0.5g/t for a contained metal content of 0.7 million ounces has been estimated by Hellman & Schofield,
which represents a relatively small area of the greater licence area.Anumber of other prospective targets may add to this mineral resource over time.
The general disposition of the Tulu Kapi mineralization on a favourable hill location, with some borehole and trench intersections of many meters with grades in
excess of 5g/t, makes this an attractive proposition. In addition, no deleterious minerals like arsenopyrite appear to be present and gold occurs predominantly in
pyrite, or as free gold near the contact between pyrite and silicate gangue, and testwork has shown that gold is recoverable up to 96% by normal cynide leaching
processes.
TYPICAL ALBITISED MINERALISATION
RE-INTERPRETED GOLD VALUES IN GRID SOIL SAMPLES OF THE TULU KAPI AREA
AREA 2
AREA 3
AREA 1AREA 4
MAIN TULU KAPI DRILL ZONEMAIN TULU KAPI DRILL ZONE
AU IN SOIL PPB:
0 - 100
100 - 400
400 - 700
700 - 1,000
1,000 - 1,800
>1,800
Off Map*
Source: M. Churchouse (Dwyka, June 2009)
AREA 5* Area
1Tulu Kapi
Extension
- South Strike Extension
- Drill Ready
2UNDP
Target
- UNDP Borehole
- Quarts Veins
3Tulu Kapi
East
- New Quartz vein swarm identified on strike of 1930's Gold Mine
- 5.5km of strike length to target
4Tulu Kapi
West
- Soil Anomaly never previously tested
Guji
- 1,200m strike proven
- 9.6 g/t Au over 68.5m in trench intersection
Guji
Extension
- 3,000m strike
- Evidence of suitable geology
- No evidence of faulting
- A potentially significant extension to Tulu Kapi
5
POTENTIAL NEW TARGETS
An in-fill drilling and surface trenching programme which
is planned for the upcoming 'dry' season is aimed at
further improving the understanding and distribution of
the mineralisation and providing the basis for an
Indicated Mineral Resource to be estimated. The
potential to add to the mineral resources to the project is
emphasised by the numerous positive indications of
mineralisation beyond the immediate area of Tulu Kapi.
The accompanying figure and table summarise this
additional potential within the licence area.
The table below summarises the initial resource estimation conducted by Hellman & Schofield in
September 2009. This resource has been estimated using fire assays from 34 diamond drill holes
in an area of 500m x 400m to a depth of 200m.
The MIK recoverable resource model estimates approximately 13 million tonnes of ore grading
1.6g/t above a cut-off grade of 0.5g/t for a contained metal content of 0.7 million ounces. Hellman &
Schofield consider that the total resources estimated at Tulu Kapi tabled here can be publicly
reported as Inferred Resource estimates according to the JORC Code (2004).
Mafic
Syanite
Alb
itis
ed
Syanite
Mafic
Syanite
VOLUME
(Mt)
GOLD
GRADE
(g/t)
VOLUME
(Mt)
GOLD
GRADE
(g/t)
0.5 13.15 1.59 0.37 1.38 0.69
1 6.58 2.46 0.12 2.84 0.53
1.5 3.94 3.3 0.09 3.34 0.43
TOTAL
GOLD
CONTENT
(Moz)
Inferred
THTULU KAPI MINERAL RESOURCES AS AT 30 SEPTEMBER 2009
CUT-OFF
GRADE
(g/t)
RESOURCE
CLASSIFICATION
PRIMARY SUPERGENE
InterActionCorporate Reporting & Identity Specialists,
Annual Reports, Graphics
Graphics By: Information in this statement is to be used for marketing and illustrative purposes only. The diagrams and the information herein may not be edited or transmitted in any form or by any means without prior written permission.
Tulu Kapi_Nyota Min Ltd_'09_Technical Statement_Investors .cdr
PAGE 12 of 12_V1
Investors Report on the
Tulu Kapi Gold Project, Ethiopiath
as at 30 September 2009
Additional, regional potential around the Tulu Kapi occurrence is evident in the thick, shallow dipping quartz veins at Guji and other properties readily available for
detailed trench sampling and possibly bulk sampling. The geology of the area is only mapped at a regional level and the potential for the syenite body to be of a
substantial size may be proven if the identified “pods” of syenite outcrop are shown to be regionally connected, perhaps as a batholiths.
In conclusion, this Technical Statement seeks to identify in compliant format the issues required to create a framework within which to identify and quantify future
work requirements, the potential success and the alternatives available for Nyota to generate significant upside value potential.
REFERENCES
AUTHOR DATE TITLE SOURCE
Adams, M., and Palmer, R. 2007Independent Review of Land Issues, Volume
III, 2006-2007, Eastern and Southern Africa
http://www.oxfam.org.uk/resources/learning/landrights/
downloads/independent_review_land_issues_eastern_
and_southern_africa_2006_07.pdf
Federal Democratic Republic of
Ethiopia, Environmental Protection
Authority
2000 Environmental Impact Assessment Guidelinehttp://www.epa.gov.et/epa/departments/eia_services/fil
es/pdf/eia_guidline.pdf
Mid-Day International Consulting
Engineers2008
Land Resource Survey for Yubdo Platinum
Test Pilot Area and Tulu Kapi and Guji Detail
Gold Exploration Drilling Areas in Western
Welega Zone, Oromiya, Ethiopia
0671_0001.pdf
2006 Bila-Gulliso Exploration Licence Bila-Gulliso Exploration Licence.pdf
2005 Tuli Kapi and Ankore Exploration Licence Tuli Kapi and Ankore Exploration Licence.pdf
2004 Yubdo Locality Exploration Licence Yubdo Locality Exploration Licence.pdf
2006 2006 Tulu Kapi Summary Report 2006 Tulu Kapi Summary Report.pdf
2007 2007 Tulu Kapi Summary Report 2007 Tulu Kapi Summary Report.pdf
2008 2008 Tulu Kapi Summary Report 2008 Tulu Kapi Summary Report.pdf
2007Minerva Resources PLC Annual Report and
Accounts 20072007 Annual Rpt MDs Rpt.pdf
2009 Tulu Kapi Gold Project, Ethiopia January 2009 Tulu Kapi Update January 2009 with cover (3).pdf
Notes on alteration and mineralization at the
Guji, Gudeya Guji and Dina gold prospects,
western Ethiopia
P Pollard Other_prospects.pdf
Gold mineralization and associated alteration
at the Tulu Kapi Prospect, Ethiopia:
Recommendations for future work
P Pollard Tulu_Kapi.pdf
Wardell Armstrong International
Limited2009
Cyanide Leach testing of Two samples of
Mineralisation from Tulu Kapi Tulu Kapi Report.pdf
Minerva Resources PLC 2009 Tulu Kapi Gold Project, Ethiopia January 2009
World Trade Press 2009 Population Density Map of Ethiopiahttp://www.bestcountryreports.com/zoomify.asp?name
=Z_Ethiop_Pop
Hellman & Schofield 2009Inferred Gold Resources, Tulu Kapi Project,
Ethiopia.Inferred Gold Resources, Tulu Kapi Project, Ethiopia.
Minerva Resources PLC
Dr. Peter J. Pollard 2008
Federal Democratic Republic of
Ethiopia, Ministry of Mines and Energy
Golden Prospects Mining Company
Limited