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Okolom Gold Mine

Okolom Gold Mine. Olukunle Amoo BestKamco Resources, Toronto, Canada. 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

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Okolom Gold Mine

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  1. Okolom Gold Mine Olukunle Amoo BestKamco Resources, Toronto, Canada

  2. 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

  3. 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

  4. Structural Map showing Okolom Prospects

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

  6. Property Owners • DAMCO Nigeria Ltd and • Nigerian Mining Corporation

  7. 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

  8. 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

  9. 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

  10. 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

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

  12. 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 %

  13. Contact • For further information, Please contact Olukunle Amoo Bestkamco Resources Toronto Canada 416 301 6815 kunle222@mail.ciom www.bestkamco.com

  14. 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

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