IP Study and Quartz Pebble Lag
Kenya Land Status Map
Kamwango West: Plan of drilling
Awuoro-Kanga Grids: Au-in-Soils, workings/samples, and DDHs
Awuoro System: Au-in-Soils, workings/samples, and DDHs
Ruga System: Au-in-Soils, workings/samples, and DDHs
Stockport Exploration is focused on the exploration of a district-scale land package along a prolific gold-hosting greenstone belt in Southwestern Kenya. Highlights of Stockport's strategic land package include:
Stockport's ongoing exploration program has the potential to deliver multiple large scale discoveries for its shareholders.
- Approximately 2,000 square kilometres (200,000 hectares) of prospective mineral belt under license and/or application;
- Long history of near-surface gold extraction by local artisanal miners (and numerous historic colonial-era mines) that continues today;
- Demonstrated mineralization throughout Stockport's project area with the potential for multiple mineral deposits and mineral deposit types (gold, silver, copper, zinc, iron)
- Over +40 million ounces of gold resource in Tanzanian mines on southern extension of greenstone belt.
- Early diamond drilling programs have produced high grade gold intercepts
Stockport Exploration controls a district-scale property position in a poorly-exposed and under-explored Archean greenstone belt that has demonstrated the potential to host large scale Au(-Ag) and Cu-Zn-Au-Ag deposits. Stockport's project portfolio is reminiscent of the early days of exploration in other highly productive greenstone belts such as those found in South Africa, Canada, and Australia.
Kenya's tremendous exploration potential is demonstrated by both the industry success in neighbouring Tanzania and the extensive history of artisanal gold mining in Kenya that dates back to the colonial era and continues to this day. Despite this acknowledged potential, Kenya has experienced limited modern exploration and accordingly Stockport's strategy has been to assemble a district scale property package with the potential for multiple large-scale deposits within this prospective mineral environment. Stockport likens the exploration opportunity in Kenya to that of Burkina Faso in the early 2000's, when Burkina Faso looked with envy on the mining and exploration success of its neighbours.
Today, gold production represents a significant part of the Burkina Faso's economy and the country is host to core gold assets for many established mining companies including SEMAFO, Iamgold, Endeavour Mining, High River Mining and Volta Resources.
Stockport and its joint venture partners B&M Mining and East Africa Pure Gold ("B&M and EAPG"), privately owned sister companies controlled by common shareholders, control exploration licenses in the Migori area of Nyanza Province, Kenya, covering over 1,288 km2. Stockport's licenses cover dozens of known historic and artisanal gold workings, as well as airborne EM targets (1977 survey sponsored by the UN) and extensive banded iron formations along a prolific gold hosting greenstone belt within Kenya. Prior to Stockport's involvement, limited modern exploration work had been conducted on the concessions beyond initial reconnaissance rock and soil sampling, although B&M completed seven shallow drill holes in the Kamwango area in 2003-04 (see Kamwango Area description below for details).
During 2011, Stockport also received preliminary approval for the Sotik License covering 658 km2. Sotik is located approximately 40 kilometres east of the Company's Nyanza Project and separate from B&M-EAPG joint venture. Upon receipt of the final license approval (pending), Stockport will own a 100% interest in the Sotik license, where preliminary reconnaissance has discovered at least six artisanal and colonial workings in the central part of the license alone. The Sotik license covers what are believed to be the last 'open' portions of the Nyanza-Migori greenstone belt in southwestern Kenya.
In February 2011, Stockport agreed to terms with its partners' B&M and EAPG pursuant to which Stockport expects to earn an 80-95% interest in this portfolio of properties. Stockport can earn an initial 80% interest in the Kenyan Properties by incurring expenditures of US$4 million and making cash payments to its partners of $300,000. Should Stockport's partners choose not to fund their pro-rata share of expenditures beyond Stockport's initial $4 million, Stockport can increase its interest to 90% by spending a minimum $10mm on exploration expenditures and carrying its partners to completion of a feasibility study. Following the completion of a feasibility study, Stockport's partners can require Stockport to spend an additional $10 million on development costs which would increase Stockport's interest in the properties to 95%.
Stockport acknowledges the work of the late Mr. Joe Krygoski, founder of B&M and EAPG, who demonstrated great foresight in assembling the initial properties that now forms the cornerstone of Stockport's property portfolio. Stockport is fortunate to work with Mr. Krygoski's surviving family members and business partners to promote and realize Mr. Krygoski's vision for potential mine development in this region of Kenya. Stockport is also appreciative of the cooperation and support demonstrated by the Kenyan government as well as local residents and community leaders who will will benefit from the success of these properties going forward.
The Nyanzian greenstone belt is a continuation of the Archean greenstones located in neighbouring Tanzania (as well as in Uganda and Congo) that host several gold mines, notably African Barrick Bulyanhulu, Buzwagi and North Mara deposits, which together represent reserves of approximately +30 million ounces of gold, as well as AngloGold's Geita deposit which contains over 16 million ounces of gold. Within Kenya, just to the south of Stockport's property package, the belt is host to at least one known Au-rich VMS deposit, the Macalder Mine (0.84 Mt at 2.29% Cu, 5.1% Zn, 3.26 g/t Au and 1.8 oz/t Ag) which was operated by Falconbridge in the 1960's and is currently being re-assessed by Red Rock as part of its Migori Project (33 Mt @ 1.1 g/t Au in four near-surface deposits).
Stockport's exploration program initially focussed on gold in the Awuoro, Kanga and Kwoyo areas of its portfolio. Stockport's partner, B&M, completed a small seven-hole shallow drill program within the Kamwango area in 2003-2004. The drill results were very encouraging and Stockport initiated a small drill program in the Kamwango area in December 2011.
An initial high-level review of Stockport's large prospective property package, covering in excess of 2,000 km2, has identified several areas of other quality targets that the company plans to follow up. Banded iron formations are prevalent in the Wire Hill and Buoye Hill areas of the project and represent attractive iron-oxide and base metal targets. The Ombassa area, located to the south of Kamwango, is also host to a large gold-in-soil anomaly. These attractive targets have been identified and or confirmed from the limited data available and Stockport is confident the ongoing assessment of the district scale property package will yield the identification of multiple additional target areas.