The Wa Property Gold Exploration Project – Ghana

The Corporation is currently conducting a detailed review of the four sections of the concession as a basis for further exploration planning.

The Corporation acquired the rights to the Wa property, located in northwest Ghana, with its acquisition of Guinor. The property comprises four prospecting licenses – Julie, Colette, Josephine and Kjersti – each of approximately 150 square kilometers.

Location and geology
The Wa property is situated about 530 kilometers from Accra and lies on Birimian greenstone, hosting rocks where gold mineralization typically occurs as disseminations, stockworks and veins within the greenstones.

Geochemical sampling work identified several high-value gold anomalies in an east-west oriented greenstone formation of 30 by 10 kilometers and follow-up work delineated the Julie, Colette and Josephine targets.

Exploration
The Corporation is currently conducting a detailed review of the concession as a basis for further exploration planning.

The Julie target is an East-West trending zone, with a strike length of about 6 kilometers and 45 degrees dip to the north, with shear-hosted gold mineralization along a granite/basalt contact. Although anomalous gold and artisanal workings are found over the extent of the structure, the continuity of gold grade is unclear because of the masking colluvial cover.

A 100 m x 100 m soil geochemical sampling and trenching program exposed a shear zone of 80-100 m in width with mineralized lenses of 5-20 m in width. A subsequent drill program outlined an inferred resource of around 300,000 ounces of gold. Trenching and complementary geochemical surveys have confirmed the continuity of the mineralization in the apparently richer eastern segment and outlined a 1.5 kilometer further extension towards the west. Preliminary testing has shown that the ore is not refractory and responds well to conventional leaching.

The Colette target, to the east of Wa, also has a strong geochemical signature but appears to be geologically more complex. The area is covered with quartz scree and colluvium that makes the evaluation of this zone difficult. There appear to be at least two hear zones totaling over 5 kilometers of strike, with numerous crosscutting faults. Results from shallow trenching have revealed anomalous sections greater than 10 m in thickness. The highest gold intercepts reported are: 8 m @ 3.5 g/t; 14 m @ 1.2 g/t; and 13 m @ 3.7 g/t.

The Josephine target, located 25 kilometers southeast of Wa, is a gold-bearing arsenopyrite occurrence with mineralization occurring at the contact aureole between schists and granite within. This has been interpreted as granitic roof facies in the basic volcanics.

The prospect is large, with the geochemical anomaly extending over 15 kilometers. Trenching of areas to the north of the anomaly has returned promising gold results.