Akjoujt South Project

ASP (Au-Cu-Ni) [OreCorp  90% 1415 & 1416]

The ASP is in the Proterozoic Mauritanide Belt and comprises two granted licences covering 460km2 and a licence application covering the 136 km2.

These licences contain highly prospective geological structures and lithology which have the potential to host both structurally controlled gold, iron oxide copper gold (‘IOCG’) and sulphide nickel-copper type deposits. The ASP is approximately 30km south of First Quantum’s Guelb Moghrein copper-gold mine, a reported IOCG deposit.

Anomaly 5 was identified in a regional soil sampling program which generated an anomalous soil sample of 0.26% nickel and 0.23% copper. The anomalism is associated with a circular intrusive body and alteration assemblage. Subsequent mapping, infill sampling and trenching has defined a zone of geochemical anomalism approximately 1.6km long. Trenching across this anomalism has intersected mineralised intervals of up to 160m in width of 0.24% nickel and 0.21% copper. Six reconnaissance diamond drill holes were completed in Q2, 2016 with significant nickel-copper-sulphide mineralisation in four of the holes.

Ground magnetic surveys have been completed over the Anomaly 5, Trench 9, Anomaly 5 South and in the eastern portion of the licences. The survey revealed a coincident anomaly over the better zones of sulphide mineralisation at Anomaly 5. A moving loop EM ground survey has recently been completed over the Anomaly 5 and Anomaly 5 South areas.