Aims & Objectives
Aims Years 1-5
- Identify the best quartz veins, veinlets and alteration zones that provide maximum value within the initial 3.13km2 area, listed in the modern reports as Um El Ruus I, II and III. This should be a quick and efficient process given the minimal drilling required in conjunction with the historical data. These are the areas that have been studied the most.
- Quickly identify how surface leaching and spectral method analysis may have under reported the potential reserves.
- Once identified, Veritas Mining shall develop a series of deposits within trucking distance of a single small-scale production plant.
- Plan and Develop an economically viable commercial operation allowing for the construction of a small-scale production plant. A financial model for a plant producing around 7,500 ounces per year has already been studied.
- First ore to be processed within 6-9 months from the commencement of plant construction.
- Post small-scale production the company strategy is to then prioritise the rest of the mineral hosting quartz veins, veinlets and alteration zones within the larger 9km2 area. The exploration should be targeted with a more detailed plan that can further identify in which order the next deposits should be developed. Demonstrating the true economic potential of the project.
- Exploration targeting reserves of around 500,000 ounces of in situ gold ore.
Objectives Years 5 +
- Identifying and exploring the remaining areas of the 248KM2 plot that hosts the mineralization of Gold, including the high quantity low quality materials found close to the surface. These would have been historically ignored by previous mining operations and it is important to note they makes up almost 50% of Centamin’s Sukari 13m ounce reserve.
- To build a world class mine that would be a direct comparison to Centamin’s Sukari mine with a 1m+ ounce reserve .
- Plant expansion to see throughput and efficiency increased to lower production costs per ounce.
- Creating a long term sustainable project which maximizes shareholder value and return on investment.