Grumesa
The Grumesa licence (39sq km) is located on the eastern side of the Central Ashanti Gold Project (CAGP). The Kayeya deposit on the Grumesa licence is a large low grade Tarkwaian hosted gold deposit that is amenable to heap leach gold extraction. Current resources are 30 million tonnes at 0.8g/t Au.
Limited drilling (1,700m) was undertaken on the Kayeya deposit during the past year. However, we will complete a feasibility study to assess whether Grumesa represents a satellite production opportunity, managed from CAGP.
With 195,000oz in indicated gold resources and 619,000oz inferred gold resources the low grade Kayeya project can be developed as a low capital cost but higher operating cost per ounce satellite producer to the larger CAGP operation in the Ayanfuri area some 35km to the west.
