Exploration activity

DRC: Four permit areas and three options covering approximately 199 000ha. There are some 158 000ha under exploration. Some 450 artisanal workings are present on the permit areas. About 4 906 soil, 220 rock and 173 trench and channel samples have been analysed. A coherent soil anomaly of 39 000m² has been discovered over the Minembwe project area. Results returned values of 2.34g/t in soil and 32.2g/t, 31.2g/t and 13g/t in rock samples. Large areas with potential are still to be covered. Diamond drilling is in progress.

Mali: Five permit areas covering 48 600ha in a known gold province; two permits are currently under active exploration:

• Loulo-Est: 8 154m of drilling has been completed. Borehole intersections range from 7g/t Au over 2m to 2g/t Au over 7m; high tenor gold soil anomalies discovered within a geologically favourable setting and these were supported by favourable IP responses.
• Farabantourou: 1 379 soil samples analysed resulting in a 4km gold soil anomaly being discovered. Ten reverse circulation holes have been drilled. Intersections include 1.3g/t over 18m, 1.98g/t over 2m and 1.88g/t over 2m. An IP survey identified geological structures underlying the soil anomalies.
• Ségala-Ouest: Trenching on known gold mineralisation sands has commenced.

Mauritania: Six permits cover an area of approximately 742 700ha. The permits grant TransAfrika the right to prospect for gold and base metals. Drilling on gold permit 272 shows gold mineralisation associated with anomalous zinc, lead and copper. The best gold intersection is 8.47g/t over 3m. The Kaouat iron ore project (Kaouat) covering some 150 000ha is currently being explored. To date, an estimated 1billion tonnes of iron ore containing about 30% iron, which is potentially upgradable to 67%, has been identified. Initial indications are that, once beneficiated, the product will be of a quality very attractive to the European and US markets. Strong radiometric readings have been recorded over the group’s uranium projects. Exploration continues.

Rwanda: Two permits holding four areas covering 114 500ha are being explored. Some 33 diamond drill holes have been drilled and a SAMREC compliant resource of 257 000oz of gold open along strike and down dip confirmed. Grade increases with depth and the anomaly targeted continues further north on the prospect. It is anticipated that additional drilling will increase the resource to over 1million ounces.

Senegal: The company holds two permits covering 342 133ha. The gold prospect of approximately 30 000ha indicates a favourable setting of gold mineralisation. Gold in soil anomalies coincide with quartz veins have been identified and mapped. Grab samples from the quartz veins return up to 22.7g/t gold. Geophysical surveys over the anomalies have been completed. The second permit covers a highly prospective heavy sands project immediately north of Mineral Deposits Limited's Grand Côte Zircon Project’s 1.3 billion tonne heavy sand project.