December 31, 2006
A exploration budget has been approved for 2007, which will include an 18,000m drilling program to test strike and depth continuity of the already defined open pit mineralization at Tasiast in order to increase and upgrade current gold resources.
In the year 2005, several coincident nickel and copper soil anomalies have been delineated, which are spatially associated with outcrops of ultramafic rocks. One of the best anomalies that deserves follow up work is 1.5 km long, east-west oriented and has values of up to 609 parts-per-million (“ppm”) of nickel and 337 ppm of Cu.
The Company is planning to commence active exploration on its Mauritanian land holdings in 2006.
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