Since February 2020, Emiral Mining SARL, our local subsidiary, has carried out an extensive range of prospecting and exploration activities, including 90,000 meters of drilling to identify high-potential mining assets. In August 2021, a license area was acquired for a 9-year term.
Having invested over $40 million, Emiral has now reached the Pre-Feasibility stage, with the Pre-Feasibility Study (PFS) report expected in Q1 2025. At this stage, the primary objectives are to secure a reliable water supply and optimize heap leaching to balance recovery rates and costs.
Drilling results confirm adequate water availability within the license area, with additional regional potential identified. Our team, in collaboration with leading international mining consultants, is actively working on optimizing heap leaching processes.
The Pre-Feasibility Study will focus on the Indicated Resources of the most efficient part of the main ore body. Further exploration efforts will continue on other pre-identified targets, with the potential to increase overall resources by 30–40%.
