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Mano River Resources Inc.
COMPANY DATA | INTRODUCTION
| CORPORATE STRUCTURE | PROJECTS IN HAND
MANAGEMENT | NEWS UPDATE
| CHINESE
Address: |
Head Office:
Suite 600, 890 West Pender Street
Vancouver, B.C.
Canada V6C 1K4 |
Exploration Office:
125A The Broadway
Didcot Oxfordshire OX11 8AW
United Kingdom |
Tel No.: |
+44 (0) 1235 810 740 |
Fax No.: |
+44 (0) 1235 810 733 |
Cell No.: |
+44 (0) 7974 086 712 |
Web Site: |
www.manoriver.com |
Contact Person: |
Steven Poulton |
Position: |
VP Corporate Development |
COMPANY DATA
Traded Market: |
TSX-V |
AIM |
Traded Symbol: |
MNO |
MANA |
Outstanding Shares: |
210 million |
52 Week High: |
$ 0.46 |
52 Week Low: |
$ 0.04 |
Present Price: |
Click Here |
INTRODUCTION
Mano River Resources Inc. is a well-funded exploration company focused on the discovery of gold and diamond deposits in the Archaean terrain of the highly prospective, under-explored, West African Mano River Union (MRU) countries of Sierra Leone, Liberia and Guinea. Mano considers the region has the potential to develop into a world class gold and diamond-mining province. The Company now has over 25,000 sq.km under licence, close to one million ounces of gold in resource, a cluster of diamondiferous kimberlite pipes and joint ventures in place with Golden Star, BHP Billiton and Trans Hex Group which, if they are all fully exercised, will involved a total of over US$11m in third party expenditure. With increasing market recognition of the recent positive evolution in the regional politics, Mano is starting to capitalize on its position as the pre-eminent gold and diamond explorer in the sub-region.
CORPORATE STRUCTURE
![](../../images/Listed_Co/mano2.jpg)
PROJECTS IN HAND
(1) Sierra Leone, Gold Project
The basis of Mano's gold project in the Mano River Union region was the recognition that Western Liberia, together with a large part of Sierra Leone and eastern Guinea, is underlain by a classic Archaean granite-schist (greenstone) belt terrain containing extensive schist belts. In particular, geological parallels were drawn with the Lake Victoria Goldfields of Tanzania where, from modest beginnings at the beginning of the decade, exploration during the 90s of similar Archaean terrain has yielded a number of world class discoveries, such that today something of the order of 40 million ounces of mineable gold are being developed by a range of companies.
On the 25th November 2003 Mano announced the signing of a Letter of Agreement with Golden Star Resources Ltd. (GSR) for a Joint Venture on the gold licences held by Mano in Sierra Leone. The Joint Venture requires staged expenditure of $6m over four years by GSR in order to earn an initial 51% interest in the properties. Mano retains the option to co-fund through to production to maintain its 49% interest in the properties.
Mano River Resources Inc. has three gold licences. They are Pampana (EPL 6/96), Sonfon (EPL 5/96) and Nimini (EPL 15/96) respectively.
Sonfon licences considered to be the most significant and highest potential gold structure in Sierra Leone. In May 2002, Mano announced the signature of a Heads of Agreement with Golden Prospect Plc (AIM:GOL) to jointly explore contiguous EPLs at Lake Sonfon in the Sula Mountains greenstone gold belt. Phase-1 has identified the 'YDS' zone, a 3 km by 0.3 km wide gold anomaly co-incident with extensive artisanal gold workings and in association with a gold-bearing stockwork vein system. Trenches across the zone have assayed up to 7.3 m @ 7.4 g/t. Sampling has also confirmed previous work including a grad sample of 77 oz/t.
(2) Liberia, Gold Project
Four gold prospects, King George Larjor (KGL), Weaju, Gondoja and Vaney Camp were identified and prioritized followed a countrywide reconnaissance exploration programme carried out during the 1997-98 field season.
In July 2000, independent consultants ACA Howe International Limited estimated combined geological resources at KGL and Weaju as 768,000 contained ounces of gold at 6.9 g/t.
(3) Missamana and Gueliban Permits, Guinea, Gold Project
The main area of interest within the two permits, as defined by tectonic analysis, airborne geophysics and the known position of artisanal workings, is an east-south-east trending gold belt stretching from the Brouni prospect, through Missamana and into the Gueliban Permit. All the important target areas lies within this zone, or exist on related structures, which branch out from this zone. The exploration programme has now defined six high priority prospect areas. These are at Missamana, Brouni and East Kerkour in the Missamana permit, and Madou, Diamona and Gueliban East in the Gueliban permit.
Detailed evaluation work of the Missamana prospect in parallel with the regional programme culminated in a 4,000 metre programme of preliminary exploratory reverse circulation drilling. On the main mineralize zone, every trench and drill hole intersection was positive. Gold assays include intersections of 7.24 m @ 2.90 g/t, 11 m @ 2.08 g/t, 28 m @ 2.2 g/t and 6 m @ 3.02 g/t. Additionally, every single sample beneath the zone of oxidation contained significant sulphide mineralisation. The mineralisation is hosted by a composite porphyritic granodiorite, within a country rock of schists and quartzites.
(4) Sierra Leone, Diamond Project
Mano River Resources Inc. has been awarded a large (9,700 sq.km) exclusive reconnaissance licence (Yengema EPL and Njaiama EPL) area in Sierra Leone, which is highly prospective for diamondiferous kimberlite occurrences. A major programme of exploration will be undertaken across this licence to include an airborne geophysical survey and surface geochemical programmes.
The Company will be continuing to further explore the economic potential of the swarm of diamondiferous kimberlite dykes which it has within its Kono diamond field licences and which to date have yielded significant grades of up to 94 carats per hundred tons and stone of gem quality in mini-bulk samples taken by Mano to date.
(5) Liberia, Diamond Project
Mano River Resources Inc. has discovered a cluster of diamondiferous kimberlite pipes in its 200 sq.km 'KPO Range' licence area, which is now the subject of a $2m joint venture with the Trans Hex Group of South Africa.
MANAGEMENT
Mano River Resources Inc. has a well management team with experience in different areas. The management team includes:
Dr. Thomas G. Elder, President and Chief Executive Officer
Dr. Elder joined Mano in 1998 and brings with him an extensive background in mineral exploration gained with major companies including BP and RTZ. He has run exploration programmes in the UK, Spain, Italy, Portugal and Greenland for Cominco Limited, prior to his appointment as world-wide Exploration Manager for BP Minerals. With RTZ he had special responsibility for project development in the Former Soviet Union. Immediately prior to joining Mano he was CEO of Carpathian Gold, a private company with interests in precious metal exploration in central Europe.
Greg Nowak, Regional Manager
Mr. Nowak was Exploration & Country Manger for Ashanti Goldfields in Cote d'lvoire & Sierra Leone. Mr. Nowak's exploration and management experience spans over twenty years, with over 15 years focused on the Precambrian Birimian greenstone belts and Archaean basement rocks of West Africa (Ghana, Cote d'lvoire, Mali, Burkina Faso, Liberia and Sierra Leone). A Fellow of the Society of Economic Geologists and member of the Geological Society of America, Mr. Nowak holds an M.S. degree from the Mackay School of Mines of the University of Nevada, Reno, U.S.A.
N. Karl Smithson, Vice-President Exploration - Diamonds
Since graduating from Kingston University, UK with a B.Sc. (Hons.) degree in geology, Mr. Smithson has specialized in diamond exploration in Africa. He first commenced work in October 1988 with De Beers. Mr. Smithson left De Beers in 1998 for SouthernEra Resources to become their exploration Manager for Africa, responsible for diamond projects in South Africa, Gabon, Angola, Botswana, Zimbabwe, West Africa and Australia. Mr. Smithson has been an independent consulting geologist since April 2000, with clients as Mano River, SouthernEra and Vaaldiam Resources.
Dr. Leslie I. Wright, Consultant
Dr. Wright is a highly regarded exploration geologist with over 25 years of experience, of which more than 15 years have been in Africa. He is also a visiting Resource Fellow at the University of Southampton and a Quality Assessor in Earth Sciences for higher education institutions in England and Wales.
Steven J. Poulton, Vice-President of Corporate Development
Mr. Poulton joined Mano in 1998 and responsible for co-ordinating the technical and corporate operations of the Company. A graduate of Geology (Southampton, 1997) with a masters in Mining Geology (Camborne School of Mines, 1998), fellow of the Geological Society, member of the IMMM (committee member of MinSouth branch) and member of the Association of Mining Analysts.
Jenkins Dorbor, Consultant Geologist to Mano in Liberia
Dr. Richard Latiff, Chief Geologist
A. Kassim Mansaray, Senior Geologist
Stephen Dorbor, Project Geologist
Rexford Sartuh, Project Geologist
Washington Gondoun, Geologist
Shiaman M. Diawara, Manager of the Conakry Office
Manden S. Traore, Mining Engineer
Abdoulaye Diallo, Geologist
NEWS UPDATE
On February 23, 2005, Mano River Resources Inc. reported that it was pleased to welcome Petra Diamonds as its new partner on its Kono kimberlite project in Sierra Leone. Petra Diamonds and Crown Diamonds recently announced that, subject to stock exchange and shareholder approval, the two companies had merged to form a larger diamond exploration and mining entity, listed on both the London AIM and Australian ASX Exchange. The new Petra, which incorporates Crown's producing expertise and Petra's African exploration expertise, results in an entity that will enhance the likelihood of success in the existing Mano joint venture and expand the scope for future deals.
On February 15, 2005, The Board of Mano River Resources Inc. announced that it has arranged, subject to regulatory approval, a brokered Private Placement to raise gross proceeds of GBP4,000,000 from investors in the United Kingdom and Europe.
On January 17, 2005, Mano River Resources Inc. announced the commencement of exploration work on its highly prospective cluster of diamond-bearing kimberlite pipes, located in Mano's 200 sq.km Kpo licence in western Liberia, as per Heads of Agreement signed in June 2002 with Trans Hex Group Limited of South Africa.
On June 09, 2004, Mano River Resources Inc. and Golden Star Resources Ltd. announced that Mano and Golden prospect discover diamonds and indicator minerals in their Sonfon licences in Sierra Leone. The summary is as follows:
· 5 diamonds weighing 0.841 carats from a 250 kg sample in new diamond area
· Diamond inclusion chrome spinels and kimberlitic ilmenites recovered
· Potential new diamondiferous kimberlite cluster in Sierra Leone targeted
On June 07, 2004, Mano River Resources Inc. announced the high grade gold intersections from Yirisen project, Sierra Leone. The summary is as follows:
· Drilling results include 15.99 g/t gold over 9 m from 54 m depth
· High grade channel results define further drill targets 1 km to the north
· New exploration licence granted over north eastward extension of Yirisen project
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