Advanced high-grade gold exploration project with strong upside potential
Normanby Island Gold Project comprises one granted Exploration Licence covering 67km2. The project contains the Imwuana epithermal gold deposit and eight other priority prospects with either known gold mineralisation and extensive zones of hydrothermal alteration or highly anomalous surface geochemistry. To date, over $50million has been spent on the Project by previous operators. Strong relationships have been developed with local communities, and a 100-man camp and road infrastructure have been re-established by AMD.
AMD plans to advance the project towards production development by establishing an oxide reserve at the Imwauna deposit, expanding the project resource base by the exploration of other nearby prospect areas with known gold mineralisation and commencing development scoping studies and baseline environmental studies in 2020. AMD is also assessing potential extensions to the Imwauna vein system and resource.
Extensive previous drilling and trenching at Imwauna has delineated a 1,600-metre long epithermal vein system containing high-grade gold mineralisation. Preliminary metallurgical test work by previous operators indicate excellent recoveries using standard leach technology.
At Imwauna, the company’s initial objective to establish a JORC compliant resource has been achieved in 2019 with a maiden JORC 2012 Inferred Resource of 1.196 Mt at 5.31 g/t Au and 10.6 g/t Ag for 204,200oz of gold and 407,000oz of silver.
The Kelas and Ebessowa Prospects located to the north- west of Imwauna also demonstrate significant potential to substantially grow the mineral inventory with further exploration.
In addition to the Imwauna deposit, the previous exploration in the area has identified extensive gold anomalism at eight other prospect areas including the Kela’s, Knob, Ebessowa and Wahola prospect areas. Gold-bearing epithermal veining and strong alteration have been identified at each of these prospects. AMD considers these areas to be underexplored and to demonstrate significant potential to substantially grow the mineral inventory with further exploration. Exploration in these areas is underway.
Community engagement has been a priority for AMD since acquiring the project in 2017. The company has developed strong relationships with local communities in the area and continues to work closely with the local people