Polymetals Resources Ltd
ASX Code
POL
Sector
Materials
Investor Centre
https://polymetals.com/investors/asx-announcements/
Website
https://polymetals.com/
About
Polymetals Resources Ltd (Polymetals) aims to become a gold production company, initially focussing on its two 100% owned exploration licences within Guinea’s Siguiri Basin, totalling 112km2. The Siguiri Basin occupies the north-eastern corner of Guinea and hosts several large active gold mining operations and is notable for its widespread gold anomalism. Polymetals’ Exploration Licences, known as Alahiné (64.2km2) and Mansala (48.2km2), host extensive historic and current artisanal gold production which reinforces the exploration potential of the area. The artisanal gold mining operations focussed on gold situated immediately below the surface laterite capping and at various levels within the underlying intensely weathered bedrock, limited to ~15m below surface. Polymetals has conducted soil geochemistry (peak soil assay of 13.2g/t Au), regolith mapping and Phase 1 RC drilling over Area A (2,406m). In addition, Polymetals recently completed the Phase 2 drilling program comprised 98 drill holes, consisting of 94 Air Core (AC) and 4 Reverse Circulation (RC), for a total of 7,320m. At Mansala, Polymetals completed Phase 1 soil sampling in 2020, returning a peak soil assay of 93.9g/t Au in addition to significant pathfinder anomalism evident from the multi-element analysis completed.