West Africa is literally elephant country for gold mining – hosting world-class gold deposits in Ghana, Mali and Guinea that include Obuasi (past production and current reserves of 42 million ounces), Bibiani (5.0 million ounces), Syama (5.2 million ounces), Morila (5.9 million ounces), Sadiola (14 million ounces) and others. In addition, West Africa has had the fastest growth in gold production in the world over the past five years.
Burkina Faso accounts for 21% of West Africa’s Greenstone Belt Exposure. This mineral potential is being investigated by a number of mining companies, some of which are outlined HERE
Burkina Faso is a politically stable country adjoining Ghana and the belts of favorable rocks that host all of the major gold deposits in Ghana continue on into Burkina Faso. While Ghana’s well-documented exploration successes have resulted in a scarcity of available geological prospects, some area’s of Burkina Faso have been severely under-explored.
Some of the most important types of gold deposits in West Africa are shear-hosted vein deposits which occur in Birimian Greenstone Belts, composed of Lower Proterozoic volcanic or volcano-sedimentary rocks. This geological setting is analogous to the prolific Precambrian gold belts of eastern Canada and other parts of the world; however, West Africa has received only a small fraction of the exploration coverage that those other belts have experienced. In particular, Burkina Faso has undergone less than 10 years of modern exploration, starting in the mid-1990s, with little activity occurring between 1999 and 2003. It thus remains under explored even in comparison to neighbouring Ghana and Mali, which both host world class gold mines in the same belts of Birimian rocks. Therefore, management believes there are compelling opportunities for further major discoveries in this region.
….read the full report on West Africa HERE