Cape Esperance Lease lies in the NW of the main Island Guadalcanal. It is about 240 Sq Kms and first explored by the British during the Colonial era with positive results. SIG have found gold in several areas, as did the British and another exploration company during the 1980's.
The objectives of geological surveys are to evaluate the possibility of epithermal gold and porphyry copper gold mineralisation systems, and finally to discover an economically exploitable gold deposits in northwest Guadalcanal Island. To help achieve this objective, SIG had established four priority target areas, see Table 1.
Table 1 Prospect Catchments for Pan Concentrate Sampling Survey
|Sasaa, Kotina, Talanga, Tachuchui, Tamba Lakoivo||1||Low S carbonate basemetal – epithermal Au||Gallego volcanic centre|
|Chovuna||2||Low S epithermal Au-Ag||Vuvunga volcanic centre|
|Lapeti||3||Low S epithermal Au-Ag||Vuvunga volcanic centre|
|Kunjuku||4||Intrusive related deep epi. Au||Paru volcanic centre|
The work so far consisted of cleaning up old logging rump roads, local paths, temporary camp construction, geological field reconnaissance, initial deployment of a geochemical exploration sampling method such as stream sediment sampling survey and specifically pan concentrate survey and finally laboratory geochemical analysis of pan concentrate samples at ALS Laboratory in Brisbane, Australia. The current period consisted mainly of geologist confirmation of previous work, as well as in field retesting to confirm results. SIG employed a total of 13 employees for field exploration, and hired a number of vehicles for logistic support in northwest Guadalcanal Island. Total expenditure of this quarterly period was over SBD800 000 see expenditure report table 3 on page 15.
SIG will pass through eight stages to get to operation, summarised into 3 exploration stages (Phase-I, Phase-II and Phase-III), see page 4. The Phase-I prospecting program consists mainly of geological field reconnaissance, geological mapping and stream sediment sampling survey. SIG is planning to commence the phase-II and Phase-III exploration program simultaneously in February 2015 and June 2016. The Phase-II will consist predominantly of grid soil sampling survey, rock sampling survey and trench mapping. And the Phase-III will be undertaking further trenching, systematic soil sampling, geological mapping to obtain more detailed geological, geochemical and geophysical data prior to plan drill program in mid-2016.
SIG remains totally debt free, fully funded by its current shareholders and directors, and intends to remain debt free.
Is to own and develop sustainable mineral resources, and to be a committed corporate citizen wherever we find ourselves.
Profits are achieved through safe, sustainable and transparent mining and business operations.
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