GOLD MINING AND EXPLORATION IN GUINEA
We began our gold exploration in 2016 in Guinea. Our team studied the land with the well-known geologist Norman Bailie (bio here). We started in the region of Mandiana and Siguiri, selecting a prospect area and sampling the streams for indicators of gold-bearing minerals. Once indicators were found, a more detailed sampling followed, narrowing down the upstream source. Rock types and mineral traces were analyzed. Remote sensing technologies were applied to better understand the underlying geology. Finally, after coordinating the results and selection of targets, drilling was initiated.
● Guinea’s mineral sector accounted for more than 25% of the country’s gross domestic product and about 95% of export earnings in 2011 (USGS 2011- Guinea).
● Guinea was ranked 5th among the world’s leading producers of bauxite, with resources, estimated at 7.4Bt comprising about 26% of the world’s total, making it the world’s richest bauxite holding country.
● Guinea is also ranked 12th among the world’s leading producers of rough diamonds by volume and 13th among the world’s leading producers of rough diamonds by value.
● Guinea holds two-thirds of the world’s largest reserves of bauxite and is the second-largest producer of bauxite after Australia.
● Guinea’s other major exports include aluminum and gold. The country’s undeveloped mineral resources include graphite, iron ore, limestone, manganese, nickel, and uranium (EITI 2012 Report).
● Guinea was designated as a full EITI compliant member on 2nd July 2014. The concurrent impacts of a global bear gold market and the outbreak of the Ebola epidemic 26th December, 2013, halted the gold exploration scene in Guinea for all of 2014 and 2015.
● Guinea was cleared by the WHO on 27th March, 2016. We have been on the ground in the Siguiri Basin since 2016, actively reviewing gold permits and building our project portfolio.