Progress report on exploration program
Reunion Gold recently announced the results of their induced polarization (“IP”) geophysical survey at the Dorlin Project located in French Guiana pursuant to the option agreement between Société Minière Yaou-Dorlin (SMYD), a subsidiary of Auplata, and Reunion Gold, a venture aimed at contributing to the development of the Dorlin Geological Research Center while enabling Auplata to enhance its understanding of these fields and valorize its permit. The option agreement grants Reunion Gold a five-year option to acquire 75% of the Dorlin mining permit, with Auplata keeping the remaining 25% provided some specific conditions are met (see press release on February 7, 2017).
Reunion Gold reported that the survey demonstrated that:
- The Nivré deposit responds well to IP surveys and produces strong chargeability and resistivity anomalies. Further noting that their recently reported gold mineralization shows direct correlation to these anomalies.
- The IP anomalies continue for 4km from the northernmost drill intersection at the Nivré deposit indicating possibly that gold mineralization may extend further.
- The IP survey identified two other interesting anomalies: Dartagnan with an extension of 2,000 mts, and the Nirvé deposit East and West Zones.
Based upon the above results indicating a significant potential for the Nivré deposit, Reunion Gold plans to pursue the drilling program for the Nivré deposit in 2019.
DIEU MERCI, COURIÈGE AND YAOU
An induced polarization “IP” campaign has been planned starting with Dieu Merci, then Couriège to identify new targets associated with mineralization. The objective is to discover the potential “roots” of Dieu Merci mineralization from which several tons of gold have been extracted since 1928 solely in its supergene part (between 0-30m depth) whereas the lower layers have never been explored or exploited deeper.
As with Dieu Merci, the mineralization of Couriège is on lineament of more than 3.000m, already confirmed by a geochemical anomaly and tranches. The recent Reunion Gold work has demonstrated the success of “IP” in a supergene context with chargeability aligned with sulfides associated with mineralization.
Progress report on Dieu Merci Plant
The construction of the complementary infrastructure is expected to end on December 5th, at two-thirds of its completion.
Training of 20 operators for the plant has been completed and a first selection process achieved. From January to March 2019 selected personnel will undertake further specialized training on site and the final staffing decision is expected to take place in March 2019.
A maintenance and security protocol of the plant has been implemented during the annual holidays..
Progress report on Environmental Rehabilitation Program
Auplata's newly created Environment Protection Department, which uses drone technology and satellite mapping to have better accuracy to ensure work completion and monitoring, has updated its work plan as follows:
On the environment side, the company is engaged on an accelerated campaign to rehabilitate and re-plant a surface of 3.5 ha on the sites of Dieu Merci.
The initial program to re-plant 3,900 trees has been completed on the surface of an old alluvial pit and awaits the review of the regulators;
Auplata has kicked-off a 300 ha rehabilitation program.
In March 2019, when the dry season starts, Auplata will initiate the reclaiming 286 ha on the Dorlin site.
Progress report – Corporate Governance
Before the end of 2018, a team of independent auditors and consultants will conduct a mission of due diligence in order to review financial, legal and accounting matters, and elaborate a new and more efficient control and reporting structure. We will evaluate the feasibility of migrating to IFRS accounting rules.
Based in French Guiana, Auplata is the largest French, stock-market listed gold producer. The Company has more than 700 sq km of mining permits and titles in French Guyana. Auplata operates an innovative industrial and financial strategy, aimed at developing and exploiting Guianese gold resources with the strong involvement of local players. The Company's objective is to offer sustainable exploitation for the Guianese mining industry. Since June 2015, Auplata is a shareholder in the Côte d'Ivoire mining company OMCI, which owns two mining projects in Côte d'Ivoire.
Auplata's share are listed on the Euronext Growth market in Paris (Euronext). ISIN: FR0010397760 – ALAUP; ICB: 1777 – Gold Mining.
For more information about Auplata, go to www.auplata.fr.