and its controlled entities
(ABN 14 113 517 203)
Half Year Report 31 December 2021
Amani Gold Limited | |
Contents | Page |
Directors' Report | 2 |
Auditor's Independence Declaration | 11 |
Consolidated Statement of Comprehensive Income | 12 |
Consolidated Statement of Financial Position | 13 |
Consolidated Statement of Changes in Equity | 14 |
Consolidated Statement of Cash Flows | 15 |
Notes to the Consolidated Financial Statements | 16 |
Directors' Declaration | 23 |
Independent Auditor's Review Report | 24 |
DIRECTORS' REPORT
Your directors submit the financial report of the consolidated entity, comprising Amani Gold Limited (the
"Company") and its controlled entities (collectively "Amani" or the "Group") for the half year ended 31 December
2021. In order to comply with the provisions of the Corporations Act 2001, the directors report as follows:
Directors
The names of directors who held office during or since the end of the half year and until the date of this report are noted below. Directors were in office for this entire period unless otherwise stated.
Klaus Eckhof | Executive Chairman and Managing Director |
Tsang King Sun | Non-Executive Director (resigned 18 November 2021) |
Maohuai Cong | Non-Executive Director (Resigned 11 March 2022) |
Peter Nicholas Huljich | Non-Executive Director |
John Campbell Smyth | Non-Executive Director |
Results |
The consolidated loss for the half year after tax was $2,089,415 (2020: $2,723,583).
Review of Operations
Giro Gold Project
About Giro Gold Project
The Giro Gold Project comprises of two exploration permits covering a surface area of 497km² and lies within the Kilo-Moto Belt of the DRC, a significantly under-explored greenstone belt which hosts the Barrick Gold 17 million-ounce Kibali group of deposits located within 35km of Giro. The nearby Kibali Gold Project produces more than 600,000oz gold per annum.
The Giro Gold Project area is underlain by highly prospective volcano-sedimentary lithologies in a similar structural and lithological setting as the Kibali gold deposits. Both primary and alluvial gold was mined from two main areas, the Giro and Tora areas, during Belgian rule and today. The Giro Gold Project global resource for Kebigada and Douze Match deposits exceeds 4.4Moz contained gold; with a total Indicated and Inferred Mineral Resource Estimate of 132Mt @ 1.04g/t Au, for 4.4Moz gold (0.5g/t Au cut-off grade).
The Kebigada resource followed diamond core drilling results which successfully targeted deeper high-grade sulphide associated gold mineralisation within the central core of the Kebigada deposit. Drillholes GRDD034 and GRDD035 are 240m apart and both outlined high-grade gold mineralisation deeper than previously intersected at the Kebigada deposit. These gold assay results and the current Kebigada MRE indicate the potential for the Kebigada deposit to substantially grow via targeted deeper drilling along the entire strike of the orebody.
The Company has planned a total of 3,500m of diamond at Kebigada to target extensions to the resource at depth and along strike as well as 5,860m of RC drilling at regional high grade satellite deposits to add the size and grade of the Giro global resource. Results for the first diamond hole were released in February 2022 with an intersection of 302.05m@1.18g/t Au from surface as well as intersecting mineralization below the resource area.
Figure 1 - Map of Haute Uele Province of the Democratic Republic of Congo, showing the location of the Kebigada and Douze Match gold deposits and tenement, Giro Gold Project.
Figure 2 - Map of Giro Gold Project, showing Kebigada and Douze Match deposits, tenement, surface geology, prospect locations and diamond core drillholes GRDD034 and GRDD035 (Green).
TABLE 1 - GIRO GOLD PROJECT GLOBAL MRE AT 0.5 G/T AU CUT-OFF GRADE (H&SC)
Kebigada Deposit
Indicated
Inferred
Total
(significant figures do not imply precision and rounding may occur in totals)
Combined | ||
Au | Au | |
(g/t) | (Moz) | |
1.10 | 2.5 | |
0.98 | 1.9 | |
1.04 | 4.4 | |
Tonnes | Au | Au |
(Mt) | (g/t) | (Moz) |
429.6 | 0.45 | 6.19 |
205.8 | 0.78 | 5.13 |
158.8 | 0.90 | 4.61 |
123.7 | 1.03 | 4.10 |
98.2 | 1.16 | 3.65 |
78.4 | 1.29 | 3.24 |
62.8 | 1.42 | 2.86 |
50.5 | 1.56 | 2.53 |
41.0 | 1.70 | 2.24 |
27.9 | 1.98 | 1.78 |
23.4 | 2.12 | 1.60 |
17.0 | 2.40 | 1.31 |
8.7 | 3.04 | 0.85 |
Douze Match Deposit
69 54 124
1.09 0.95 1.03
2.4
1.7
4.1
2.2
5.8
8.1
1.2
1.2
1.2
0.09 0.23 0.32
71 60 132
TABLE 2 - GRADE TONNAGE DATA FOR KEBIGADA MRE (H&SC)
Cut-off (Au g/t)
0.0
0.3
0.4
0.5
0.6
0.7
0.8
0.9
1.0
1.2
1.3
1.5
2.0
(significant figures do not imply precision)
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Amani Gold Limited published this content on 30 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 March 2022 06:14:03 UTC.