Okolom Gold Mine

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Okolom Gold Mine

• Olukunle Amoo
• BestKamco Resources, Toronto, Canada

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General Description

• The mine is one of the richest known deposit in
  Nigeria with a recorded mining grade of 30g/ton
• Assay results of up to 36g/ton were recorded for
  chip samples from Okolom
• Extensive lenses and veins of quartz in faults
  and shear zone were found
• Geophysical investigation identified a main
  quartz vein of approximately 2.8km. Two major sub
  parallel suspected veins of about 800m and 1.5km
  were delineated
• It compares with the pinch and swell structures
  found in California

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Location

• Okolom/Isanlu, Yagba East local Government, Kogi,
  Nigeria.
• Between Latitude 8 15 and 8 30 N and longitude
  6 25 and 6 55 E

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Structural Map showing Okolom Prospects
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Okolom Prospect Upper and Lower

• q Vein quartz
• a Amphibolite
• ts Talc schist
• bG Biotite Gneiss
• UOP Upper Okolom Prospect
• LOP Lower Okolom Prospect

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Property Owners

• DAMCO Nigeria Ltd
• and
• Nigerian Mining Corporation

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Project Status

• Reconnaisance scale mapping of the area including
  stream sediment sampling and panning (1 50,000)
• Semi detailed mapping and sampling of
  Okolom/Dogon Daji veins outcrops
• Detailed mapping of veins (1 2,000) and
  orientation soil sampling
• Scout drilling of 10 boreholes to a cumulative
  depth of 339 meters

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Infrasructure

• Fairly accessible by untarred road at 23 km north
  from Isanlu which is connected to the national
  electricity grid
• Water would be available all year round through
  the ponding of the Okolom river
• Telephone facilities available

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Exploration Results

• Gold values in quartz veins are variable along
  strike from 0.1 to 36g/t Au in Okolom
• Gold values also vary in weathered gneiss (up to
  12.96g/t Au)
• Five of the directional drilled holes showed
  mineralization at between 13.6m and 19.73m
  vertical depth

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Exploration Expenditure

• More than 0.8 million dollars up to date
• Financial engagement as well as joint venture
  agreement to be determined with Prospective
  Investors

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Potential

• The potential of the Okolom Gold Deposit is
  estimated at 2 Moz of Gold.

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Preliminary Operation Target

• Exploration work until end of 2006
• Feasibility study 2007
• Construction 2008
• Production start Up 2009
• MINING - Underground
• OPERATION - 1,000 mt/d mining capacity
• PROCESSING - Cyanide Leaching, recovery
• 90

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Contact

• For further information, Please contact
• Olukunle Amoo
• Bestkamco Resources
• Toronto Canada
• 416 301 6815
• kunle222_at_mail.ciom
• www.bestkamco.com

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Preliminary Estimation of Economic Viability
(scenario for a 0.75 Moz deposit (pessimistic
approach) )

• Initial Costs (Exploration, Feasibility Study)
  US 6 Million
• Capital Investment for 1,000 mt/d operation US
  10 Million
• Estimated Operating costs Mining and
  beneficiation US 150 per oz