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Phosphate in Mali
In late October, 2008, Great Quest Metals and its partners were given the exclusive right by the Malian Cabinet of Ministers to negotiate with the Government on the acquisition of the Tilemsi Phosphate project. The Tilemsi project consists of three phosphate deposits, located 105 kilometres northeast of the town of Bouram in the eastern part of Mali. The project also includes a former producing plant in Bouram. This important agricultural fertilizer project will transform our company into a producing entity supporting a key sector of the Malian economy. On completion of the agreements, Great Quest intends to finance the reactivation of the Tilemsi phosphate project and to carry out exploration in order to upgrade the present resource and the known deposits.
Most of the exploration to date has been concentrated on the Tamaguilelt phosphate deposit where a historical mineral resource of 11,302,000 tonnes of 27% P2 O5 has been defined. The production of saleable Tilemsi phosphate requires a basic open-pit mining operation, the pulverizing and bagging of the material and shipment to the local market. The plant has a capacity of 36,000 tonnes per year and production is expected to start in 2009. The current market (early Nov 2008) is at $250 per tonne.
VIEW PHOSPHATE PROJECT | VIEW PPT PRESENTATION
Gold in Mali
Great Quest has recently expanded its mineral resource to 324,000 ounces of gold on the Djambaye 2 gold zone in the Kenieba concession by initiating modern exploration techniques where gold has been found in areas of pits dug by the local orpailleurs or hand miners. This equates to 2,574,000 tonnes of 3.92 grams per tonne gold (See Projects for detailed information). The Company also holds the Bourdala concessions where gold mineralization is found in Birimian metasediments west of a 25 metre wide diorite dyke.
The next program will consist of a RAB drill program to help define drill targets for both the Bourdala and Kenieba concessions followed up by diamond drilling. The primary goal of diamond drilling will be to continue resource definition on the Djambaye 2 zone as well as follow up results from RAB drilling.
Copper-Gold-Molybdenum in British Columbia
Great Quest also holds a 100% interest in the Taseko property in British Columbia. The Company has defined a pre-NI 43-101 mineral resource of 11,028,000 tons of 0.61% copper and 0.023 ounces per ton gold in the Empress deposit. Work in 2009 will depend on the state of the markets for copper and gold at that time.
(See Projects for detailed information) | |
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