The New Force in Guinea Bauxite

The Project is located in the Gaoual prefecture of the Boké region of the Republic of Guinea, West Africa. The Koumbia mine site is approximately 220km north of Conakry, the capital of Guinea, and approximately 130km north-east of the port of Kamsar. The Koumbia mining concession covers an area of 728km² incorporating 15 plateaux of contiguous high quality bauxite at surface.

The Company has undertaken significant exploration, Bankable Feasibility Studies and engineering to justify the technical and commercial merit of the project. The attractiveness of the product quality has underpinned the Company’s assessment of the economic and commercial viability of the Project.

To date, AMC has completed c.~29,000m of drilling across the Koumbia tenement, providing a JORC (2012) compliant Mineral Resource Estimate for the quality and quantity of product. SRK Consulting (Australasia) Pty Ltd have prepared a Mineral Resource Estimate for the Project, which was prepared using conventional 3D modelling and distance weighting interpolation approaches. Grade estimation was performed using ordinary kriging. The MRE was classified in accordance with the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code, 2012) and, consistent with the code guidelines, consideration was given to the confidence in the geological interpretation, the quantity and quality of the input data, the confidence in the estimation technique and the likely economic viability of the material.

An overview of the drilling completed across the Koumbia Project is shown in the map below.

The table below shows the JORC (2012) compliant Mineral Resource Estimate of the Koumbia bauxite deposit that was completed by SRK in 2018.

The proposed development is supported by a high-grade Mineral Resource Estimate of 900 Mt of low temperature (THA) product that has been converted through mining studies to an Ore Reserve Statement supporting a product grade of 44.1% Al_2­O₃ (THA), with a corresponding Total Al_2­O₃ grade of 49%. This high-grade product is drawn from a Mineral Resource of 1.53Bt @ 41.2% Al_2­O₃ (THA) with a corresponding Total Al_2­O₃ grade of 46.5%.

With a large endowment of Mineral Resources to draw from, the reserve is expected to increase significantly upon completion of additional in-fill drilling.