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INTERNATIONAL GOLDFIELDS LIMITED

ASX: IGS

The data on Australian Shares.com is intended as a guide only and is compiled from information in the public domain. Data on this website should not be used to make an investment or trading decision.

Description

International Goldfields Limited (IGS) is a gold focused explorer with exciting projects located in the world class mining districts of Western Australia, Cote d’Ivoire and Brazil. This portfolio of properties offers excellent potential for the discovery of multi million ounce world class gold deposits. It is the ultimate goal of IGS to make major gold discoveries and provide attractive shareholder returns. IGS is in a strong cash position to fund the aggressive exploration programs and has a strong Management team experienced in the discovery of gold deposits. IGS has a portfolio of highly prospective gold projects and continues to review new opportunities that will complement and expand the company.

Western Australia Projects

International Goldfields Limited (“IGS”) is the 100% owner of the exciting Plumridge Project located in the Albany-Fraser mobile zone on the eastern margin of the Yilgarn Craton of Western Australia. The Plumridge Project comprises 12 granted exploration licences covering over 2,300km2 and is located 260km to the north-east of Kalgoorlie.

This exciting area is highly prospective for the discovery of gold mineralisation, indicated by the positive results returned for the exploration already completed at Plumridge and is regionally highlighted by the recent discovery of the 5 million ounce Tropicana-Havana deposit located just 60km to the north of the Plumridge Project, and recent discoveries on Beadell Resources tenements, also located to the north of Plumridge Project within the Albany Fraser mobile zone.

Cote d’Ivoire Projcts

International Goldfields Limited (IGS) has the right to earn up to 80% interest in 5 large exploration projects covering an area in excess of 9,900km2 in Cote d’Ivoire, West Africa. The projects comprise 11 granted Exploration licences that allow exploration drilling as well as surface geochemical sampling. All projects are strategically located within Birimian greenstone belts that fulfil key targeting criteria of regional structural zones, geological setting known to host major gold deposits and the presence of artisanal workings. The projects are located in the vastly under-explored northern, central and eastern regions of Cote d’Ivoire, and IGS is highly encouraged that the systematic exploration of the projects will deliver rapid and low-cost exploration success.

IGS has entered an Earn-In agreement with Cape Lambert Resources Limited (ASX:CFE) (“Cape Lambert”) with IGS appointed as manager of the projects with responsibility for the design and implementation of all exploration programmes. IGS has committed to an initial US$2.0M expenditure on any project or permit to earn a 60% interest in all projects. In addition, IGS has the opportunity to move to 80% ownership of the projects through an additional US$0.5M expenditure if Cape Lambert elect not to contribute to ongoing exploration. A 1% royalty on future gold production from the project areas has also been agreed with Cape Lambert and subsidiary as part of the initial earn-in stage.

Brazil Projects

International Goldfields Limited (“IGS”), has an equity investment in a major Brazilian Gold exploration project hosted in the Alta Floresta Mineral Province located in the Mato Grosso state of Brazil. IGS has agreed to provide funding to Latin Gold Ltd, a privately owned UK based company that is the 100% owner of over 3,250km2 of granted Exploration licences. IGS will be investing A$2.0M to move to a 35% stake in Latin Gold with the right to appoint a Board member and will provide technical management services to guide the exploration program for the Latin Gold projects.

This portion of the Alta Floresta Mineral province is particularly under-explored with modern-day exploration commencing only in the last ten years. The discovery of gold mineralisation by Vale in 1999 in a roadside cutting on the edge of a major highway (BR 163) highlights the potential of this area. Alluvial mining activities by the Garimpeiros remain significant with new areas continually being opened and small underground workings scattered throughout the Alta Floresta Mineral province. Gold production is estimated at over 5Moz gold recovered by the Garampeiro activities during the period 1980 to 1999 within the limits of the Alta Floresta Mineral province.

Mine For

gold

Location of operation(s)

Brazil, Mali, Cote d'Ivoire, South America, Western Australia

Address

Ground Floor 1 Havelock St
West Perth, 6005, WA, Australia

Phone

+61 (8) 9221 7729

Email

Website


Last Updated

28/03/2013

 

The data on Australian Shares.com is intended as a guide only and is provided purely as an indication of what information can be found through official announcements. Data on this website should not be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. The publisher (Intaanetto Pty Ltd) will not be held liable for any loss arising from the use of this website.

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