Kukuom Gold Project
Ghana is the 7th largest producer of gold in the world, and the number 1 gold producer in Africa. Our Kukuom Gold project is one of the largest in Ghana at 156 square kilometers.
Our Kukuom gold project is in the highly renowned Sefwi-Bibiani Gold Belt where historical production including Newmont’s Ahafo Gold Mine with 17 m/oz, Bibiani Gold Mine 7 m/oz and the Chirano Gold Mine 5 m/oz.
Guskin’s priority 2021 work program includes further exploitation of a 247-hectare section with proven alluvial and hard rock gold occurrences.
Remote sensing surveys carried out over the property produced a strong priority target anomaly with a North to `South Axis measuring 1,170 meters and a West to East Axis 1,052 meters, or 1,230,840 sq/meters with an estimated 19’ thickness or approx. 6,293,109 tons of target material.
A three-phase work program is underway.
Phase I: Removal of the lateritic overburden layer believed to contain approx. 0.8 gram / ton (on average) down to bedrock. Processing of the material to exploit alluvial gold which may fund continued hard rock studies.
Phase II: Hard rock exploration including a 17 hole drill program and further delineate hard rock targets either within or outside the confines of the known prospects.
Phase III: Expansion of the drill program outside the 247 hectare work session and begin exploratory drilling on high priority targets.
The Sefwi-Bibiani Gold Belt is a 40 to 60 km wide typical Birimian volcanic belt, striking 220 km in Ghana and extends SW to the coast in Côte d’Ivoire. It is located north of, and parallel to, the prolific Ashanti Gold Belt, which hosts many of Ghana’s active producing gold mines including Newmont, Kinross, Anglogold Ashanti and Asanko Gold are all within 100km of the Kukuom project area.
The entire concession is characterized by variably degraded laterite to residual soil profiles with minor caps of indurated ferro-duricrust. The property is underlain by three main lithologies; granitoids, volcanic sediments, and volcaniclastics units which show evidence of later shear zone intrusions exhibiting quartz veins with promising mineralization including sulphides, altered garnet and sericite. The shearing and quartz stockworks are particularly well developed at number of exposed veins in the initial pit area developed (as shown above, exposed here in Vein 55).
Guskin entered into an exclusive joint venture partnership to earn 50% ownership in the operations of the Kukuom Shewn Edged Pink Concession Ghana gold project in June 2021.
AEMG has granted the Company an initial option to acquire a 50% ownership interest in a project which is approximately 1 square km, or 247 acres, of land of located in the Kukuom Shewn Edged Pink Concession and the exclusive option to acquire an additional fifty percent (50%) operational ownership interest in the entire Kukuom Shewn Edged Pink Concession, which consists of one hundred fifty-six (156) square kilometer property, whereby AEMG is currently the exclusive operators.
AEMG is the licensed operator on the Kukuom Shewn Edged Pink Concession pursuant to the agreement dated April 30, 2020 with the Government of the Republic of Ghana and the Ghana Ministry of Lands & Natural Resources (MLNR). The entire Kukuom Concession covers a total surface area of one-hundred fifty-six (156) square kilometers and is located between the cities of Goaso and Bibiani in the Ahafo District of Ghana.
Guskin Gold shall fund the exploration and exploitation of the Concession within the much larger Kukuom Shewn Edged Pink Concession. In addition to providing the financing, and as further consideration for Guskin’s consideration for their participating interest, the Company shall facilitate the transfer of two million (2,000,000) restricted common shares of the Company to AEMG in tranches and in accordance with the achievement of certain operational milestones.