The Haykota License
The Haykota exploration licence, issued in 2009, contains gold-copper-zinc Volcanogenic Massive Sulphide (VMS) mineralisation and shear-hosted gold occurrences. Extended in September 2016 to 351 square kilometres by the addition of an area to the south, the licence holds more than 30 targets identified from Andiamo’s systematic geophysical, geochemical and geological exploration.
Evaluation is most advanced at the Yacob Dewar oxide gold deposit, which holds a JORC Indicated Resource of 80,000 ounces of gold at 2.8g/t. The deposit lies in the top 40m, within 6km of a sealed trunk road and has access to an ample water supply. Metallurgical tests have indicated that the gold can be efficiently extracted by cyanide leaching with better than 90% recovery. The Company intends to complete technical and economic work and to apply for a mining licence.
Other promising targets include YD West (2.4% Cu over 63m from drilling); Hoba (0.8% Cu over 28m) and Shambotai (0.5g/t Au over 36m)