INAL Project

The INAL project is situated within the Aoueouat Greenstone Belt of North West Mauritania. The project comprises two exploration licenses covering an area of 441 square kilometres located some 45 kilometres North East along trend from Kinross’s 21 million ounce Tasiast gold deposit, and is adjacent to Kinross’s N’Daouas-Est and Algold’s Legouessi exploration licenses. The project covers prime granite greenstone belt terrain and hosts a number of geological structures extending from the Kinross licenses through, and onto, the INAL licenses. These structures, including a banded iron formation that hosts the Tasiast deposit, have the potential to host gold mineralization.

Furthermore, the INAL project also hosts a number of pegmatite bodies with confirmed spodumene and lepidolite mineralization. The pegmatite bodies have been identified by intermittence over a length of at least 40 km and a width of over 10 km, and represent very prospective targets for lithium mineralization.

The Tasiast gold mineralisation is in Archean greenstones with strong similarities in terms of rock types, structures and mineralisation style with the great gold provinces in the Archean belts of Australia and Canada in which there have been many hundreds of gold mines. In the Tasiast district there has only been one discovery, reflecting how little explored this belt is. Clearly, the potential for additional and substantial discoveries in the Tasiast district is very high.

North Western Mauritania is underlain by the South Western portion of the Reguibat Shield, which forms part of the West African Craton. The Reguibat Shield hosts Archaean age Greenstone Belts which bear many similarities to other Archaean age Greenstone Belts of the West African Craton, most notably in Ghana, Burkina Faso, Mali and others, which all host multi-million ounce gold deposits.