Liberia Placer Mining JV

Large Scale Placer Mining Operation

Located in the Putu Mountain Region in the Bukon Jedeh gold district Grand Kru, Liberia

JOINT VENTURE OFFER

The Vendor is offering a complete mining (dredging) operation with (6) SIX Keene eight inch Dredges (2) RP4 tables, (3) 14ft Alumicraft boat w/ 9hp engine, spare parts, including staff: Managers, Seasoned divers, mechanic and trained personnel and claims (property).  In addition the funds raised for the JV will be used to purchase large scale dredging machinery to expand and accelerate gold recovery operations.

THE JV PROPOSAL

  • BUY 50% stake in the equipment and development cost ($250,000.00 USD).
  • Invest $2,500,000USD to develop Po Freeport and St John River prospect. Total Raise of $2,750,000 for rapid expansion and placing (3) large Chinese Bucket ladder dredges on the rivers.

THE GEOLOGY

Liberia, located on the western horn of Africa has substantial commercially recoverable natural resources, including gold, diamonds, iron ore, and timber, and is one of the most highly mineralized countries in the world. The Dubo River Gold Project, located in Southeastern Liberia, contain the southern extensions of the Birimian belts of eastern Ivory Coast, which host the Ity and Tongon gold mines. This area is cut by ubiquitous zones of major crustal-scale shearing with a strong strike-slip component. In central Liberia, there is a transition zone where Archaen and Birimian age rocks alternate, separated by the Cestos shear zone. Widespread artisanal mining of gold in lateritic soils, most famously Bukon Jedeh, involves several thousand local miners including the Dugbe Deposit presently being developed by Hummingbird Resources (3.8m oz deposit). This type of mineralization has led to comparisons with laterite-based mines in Ghana and the Dinguiraye and Siguiri deposits located in Guinea, the latter being mined by Kenor and Ashanti Goldfields respectively.

The Vendor has conducted gold exploration on rivers located in the southeastern region of Liberia, West Africa near the Tiehnpo Hills, and while conducting dredging operations on rivers located in this region, The vendor discovered some of the last untouched (virgin) rivers of West Africa which are amenable to gold dredging operations.

These Rivers which are adjacent to Liberia’s giant new gold discoveries (hard rock) and have proven to hold economical quantities of gold placer. The vendor has promptly acquired the appropriate reconnaissance, mining licenses to conduct gold exploration and mining within the region.

The vendor has focused on the following Rivers: yellow area = gold enrichment zone.

ST. JOHN RIVER- Kokoya
DUGBE RIVER- Tuzon
DUBO RIVER- Po Freeport

On account of its successful exploration work, the Vendor has now confirmed the following concerning the Dubo River deposits:

  • Large gold in soil anomaly drains south toward Dubo River
  • Test work has shown the primary gravel to be loose and not compacted. We have encountered relatively small amounts of calcified gravel.
  • The river gravel is gold bearing in grades from .5g/m to 3g/m. The pay gravel runs through the high-energy portion of the river bottom.
  • Extensive pilot mining of the gravel with two (2) eight inch Keene dredges has achieved daily production rates of 25 to 50 grams of Au per full day of operation, including high value areas reaching +100 grams.
  • Proven and have verifiable production which gives the 30 claims on the river an estimated resource calculation of 75000 oz. Au

THE CURRENT OPERATIONS

Sample of the Vendor claims on the Dubo River.

The Vendor has shipped eight inch dredges to the Southeastern region of Liberia for the 2015-16 Season. Work continued 8 hours per day, six days per week (weather permitting). A labor-intensive operation is expected requiring divers to take 4hr shift rotations. The production estimate allows for time lost during start up, shift change, and shut down each day, and for any scheduled and unscheduled maintenance. With the Two Dredges processing 100 cubic yards per day and assuming a conservative one half gram of gold per cubic yard, daily production averaged approximately 50 grams or (1.6 ounces Au).

The Vendor plans to install Three (3) CHINESE BUCKET LADDER DREDGES (the “Dredge”) as the sole dredging equipment for the Project. The dredge is simple, efficient, site specific and conservatively rated to handle 60 cubic meters of material per hour each. It consists of a platform built on steel pontoons, with a 200hp engine and generators, special harden steel buckets.

It employs only tried and proven technology, is constructed from “off the shelf” industrial grade components, and is very reliable. It is extremely easy to operate, is almost maintenance free, and will operate on the bottom of the river.

Dredge operations would continue 24hrs per day 7 days per week with a crew of one (1) supervisor and 6 workers (including engineer and mechanic). Each Dredge process approximately 1200 cubic yards per day.

Low estimated production (3) dredges: 0.5 gram of gold per cubic yard, therefore daily production is estimated @1800 grams or (57 ounces Au) per day.

Most likely estimated production (3) Dredges: 1.0 gram of gold per cubic yard, therefore daily production is estimated @3600 grams or (114 ounces Au) per day.

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