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Liberian Exploration Assets

Through its acquisition of Amlib Holdings plc in Q4 2013, Amara acquired three exploration licences in Liberia: Cestos, Kle Kle and Zwedru.

Cestos is the largest land package, covering 1,870km2, approximately 90 km east of the city of Buchanan. The project has a strike length of 85km along the Cestos Shear Zone. It is in a similar geological setting to the Ashanti gold belt in Ghana, which hosts more than 100 million ounces of resources, but is currently underexplored. Quartz veining and disseminated sulphides host the gold mineralisation and surface exploration has identified 23 prospects. Airbone geophysics have been completed across the entire MDA and Phase 1 drilling has been completed on two of the prospects, Innis and Numon South. Significant drilling and trenching results at Numon South included:

• 31.00m at 1.20g/t in hole NSRD011
• 24.43m at 3.14g/t and 40.84m at 1.71g/t in trench CSNT007

Trench values at Innis of up to 30m at 2.77g/t were also recorded.

Kle Kle
Kle Kle is 35km northeast of Liberia’s capital, Monrovia, and has a licence area of 102km2. Its mineralisation is hosted in Archean age granite/greenstone terrain, part of the West African Craton (Man-Leo Shield). Four targets have been identified on the licence: Yeama, Ferra, Equinox and Pepe, with promising drilling and soil sampling results received, including 4m at 16.54g/t and 5m at 3.09g/t.

Zwedru is in the far west of Liberia, 5km from the Côte d’Ivoire border. It has a licence area of 222km2 and is 150km east of the Cestos licence. Initial soil sampling grids have identified large anomalous zones and follow up mapping and phase 1 trenching has been completed.

Amara will conduct a full analysis of historical exploration work across all three licences before deciding on future exploration programmes.