POL – Polymetals Resources | Aussie Stock Forums

Polymetals Resources has recently acquired 100% interest in Golden Guinea Resources SARL (Golden Guinea) which owns two exploration licences within the Siguiri Basin in Guinea, West Africa. The Siguiri Basin occupies the north-eastern corner of Guinea and hosts several large active gold mining operations and is notable for its widespread gold anomalism. The Basin is broadly covered by exploration or exploitation tenure and there is little vacant land available for new exploration participants in the region. The region is considered prospective and relatively immature from an exploration perspective and produces over 500,000 oz of gold/year. The largest operation is the AngloGold Ashanti Siguiri Gold Mine, located 37km west of the Golden Guinea licences, which has now produced more than six (6) million ounces over its 20-year life.

The two Golden Guinea exploration Licences, known as Alahiné (64.21km2) and Mansala (48.23km2), host many historic and current small scale gold mining operations conducted by local individuals known as artisans.

Previous field activities at Alahiné comprised of two soil sampling programs and one reverse circulation drilling campaign. Initial whole of licence soil sampling at Mansala conducted by the Company achieved similar results to Golden Guinea’s Alahiné work with significant gold anomalism defined.

Of the 3,758 soil samples analysed, numerous +40 parts per billion (ppb) gold anomalies were reported with a peak soil value of 93.98 grams per tonne being obtained from Mansala. Of note is that some 16% of the combined Alahine and Mansla Licence Areas (112.44 km2) returned anomalous soil values of +40 ppb gold.

It is anticipated that POL will list on the ASX during June 2021.