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  • Namibia
  • Mining
  • Gold exploration (phase 2)
  • US$ 250.000.000 (phased)
  • Debt/Equity Funding
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Executive summary

The promoter is a registered Namibian company that wishes to raise funding for their proposed second phase of exploration work o. The second phase of exploration will be built on the work done in the first phase of exploration conducted approximately 95 km in 2013. EPL is located southwest of the nearest town. Access to the project site is obtained via the gravel C24 for 65 km from the town a proclaimed Roads Authority asset, which is regularly maintained. This gravel road connects to a small village from where a small two-track farm road turns in a southwesterly direction from it for another 30 kms’ to the project site.
 
The existing access roads that were opened up during the first exploration programme are still in a useable condition. These do not need to be widened, only maintained. However, the need does exist for new access roads to new drill areas to be created. The creation of such access roads must comply with the specific management action stipulated in the accompanying impact mitigation section of the report that was done.
 
METHODS OF EXPLORING
 
  • Non-invasive/ surface exploration
 
This method entails investigative activities limited to surface exploration (i.e. Geological Mapping, Remote sensing, / air-photo interpretation, various other geo-physical methods).
During the first exploration phase on EPL 3877 access roads were opened up, old workings and heaps unearthed and sampled, trenches excavated and mineralized rock blasted for bulk sampling and testing in a processing plant.
 
  • Invasive/ sub-surface exploration
 
This method delves into the sub surface soil layers of the earth to various depths. Drilling and localized blasting is considered an invasive exploration method, and is the focus of the promoter’s intended exploration work. The economic viability of drilling is determined if favorable results were obtained in the aforementioned surface exploration activities.
 
THE PROPOSED BULK SAMPLING PROGRAMME
 
The promoter wishes to apply for a bulk-sampling permit from the Ministry of Mines and Energy. This permit will allow the promoters to extract a specified amount of ore from the lease area for further metallurgical testing and resale to fund subsequent exploration on same lease area. Though exploration on the lease area began in 1939, work on said site has never ceased permanently. The proponent used historical data and reports on ancient mining on the lease area from the Geological Survey, to spot prospective mineable areas on the greater EPL 3877. Previous exploration work done on the tenement since 2008 was used to confirm historical results. Sufficient knowledge on copper and gold mineralization on the lease area was gained, through systemic sampling methods and testing.
 
SCOPE OF EXPLORATION PROPOSED
 
  • Ground Geophysics was done using an underground electromagnetic radio wave radar scan at four known deposit sites with coordinates as reference to their location. Total ore reserve for these points can yield a lifespan of more than 100 years.
 
  • A diamond drill will be used to drill the holes (These figures may change depending on the programme). Drill depth will be 50 metres. Drill points are located on elevated ground.​
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