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ACC DOSSI DEPOSIT (0.85Moz)

11 August 2014
DOSSI DEPOSIT Project Location and Access Dossi project is located in the Tuy province, at the east of Hounde town and 260 km west of Ouagadougou, the capital city of Burkina Faso. Access to the site is by the main paved highway from Ouagadougou to Hounde (250km) and further 10 km of gravel row to the south. The project area covered the Dossi permit that host the Dossi zone 1 and Dossi zone 2 gold occurences and the Bansie permit that contains an extension Dossi  Zone 1. Project Geology Dossi gold project is located in Hounde birimian age Greenstone Belt in Western Burkina Faso that also hosts the SEMAFO Mana deposit. The main rock types in the Hounde district are Proterozoic supracrustal units intruded by a series of granitoids and dolerite dykes. The Proterozoic sequence comprises amphibolite at base to youngest tarkwaian sedimentary rocks (in faulted contact with basement). Granitoids include an older series containing a well-developed fabric and two younger granitoid suites The regional crustal structure is a major NNE-SSW sinistral shear zone underlined by “Tarkwaian” sediments band that comprises sandstones and conglomerates. This main regional structure is stepped by several NW-SW faults. The tarkwaian rocks cut through a Mafic to intermediate volcanic package. A minor metasediment unit is present to the East of the project area. The whole is in contact to the east with a granitic domain. In the Dossi area the gold occurrences are associated with the shear zone. MINERALIZATION Mineralization is epithermal vein type mineralization. Gold occurrences are associated with a major shear zone and correspond either to: -         boudinaged high grade quartz veins (hosted by schistozed greenstone) or -          hydrothermalized silica rich zones with carbonates and oxidized sulphides. Boudinaged quartz contains free gold and sulphides such as pyrite, arsenopyrite, pyrrhotite, sphalerite and galena. Drilling in Bansie license located at the North of the Dossi zone 1 show multiple parallel quartz veins oriented north-south with several gold intercepts. Exploration Update Exploration main activities over the Dossi project comprise:
  • 34,830 meters of Reverse circulation drillholes (Dossi & BansiĂ© Zone 1 extension)
  • 4,676 meters of Diamond Drillholes for a total of 31 collars in Zone 1
  • 800 RAB drill holes (20,910 meters)
  • 2,827 soil geochemistry samples
  • Four ground geophysical programs (IP)
  • High resolution aeromag and radiometry (Fugro Midas) completed in November 2010
Mineral Resource NI 43-101 compliant mineral resources have been estimated for the Dossi deposit.
  • NI 43-101 Indicated + Inferred Resource = 16.7 Mt at 1.6 g/t = 848 Koz Au
  • Approximately half of the existing resource is in oxides
Further Exploration Plans The company has informed its intention to:
  • Infill RC and core drilling in Zone 1 to upgrade resource classification to “measured and indicated.”
  • Metallurgical testing for heap leach operation in Zone 1 (more than 400,000 oz Au in oxides)
  • Preliminary Economic Assessment of heap leach operation
  • Additional Resources level RC drilling in Zones 2 and A1
  • Auger sampling in unsampled areas along east and west permit zones
(source company web site / press releases). NB: Some of the figures are modified from company public data  www.acc-holdings.com
11 August 2014

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 A new Mining Code, adopted in Burkina Faso on 26th June 2015: The National Council for the Transition has adopted a new Mining Code establishing in particular the creation of a 'Local Development Fund', 'an Environmental Rehabilitation Fund”, “a Fund for the Rehabilitation, Security of Artisanal Mining Sites and the fight against the use of Prohibited Chemicals ", a" fund for the financing of geological and mining research as well as training support on earth sciences ".
As a major innovation, Mining companies will be taxed by ordinary fiscal scheme.
The new Code was transmitted to the President of the Republic who has 21 days to promulgation (Source: CNT)

 Karma Gold Mine: Adoption of the Community Liaison Committee wording and creation of the organ by all stakeholders in presence of the General Secretary of the Ministry of Mines & Energy and the governor of Northern Region on 26th June 2015 (Source: lefaso.net).

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