2 Otjikoto Final EIA Report 5MB - Asecnam.com

SLR Namibia (Pty) Ltd
EXECUTIVE SUMMARY
1. Introduction
SLR Ref.733.01023.0002
Report No.1
Page i
Avdale (currently owned by Auryx Gold Namibia (Auryx Gold)), an exploration and mining company,
holds four Exclusive Prospecting Licences (EPL) within the Otavi Exploration Area. This exploration area
is located in the northern central part of Namibia, approximately 50 km south of Otavi, 70 km north of
Otjiwarongo and 2 – 3 km east of the National Road B1 (see Figure 1). It is proposed to develop an open
pit gold mine within this exploration area, referred to as the Otjikoto Gold Mine Project. The proposed
mining licence area lies exclusively on commercial land owned by the company and extends over a
number of farms. In 2010 Auryx Gold Inc Canada took over the Otjikoto Gold Mine project and later
(December 2011) combined operations with B2Gold (a Vancouver based mining company).
Figure 1 – Site Location
The gold was discovered in 1997 when airborne magnetic surveys were followed up by exploration and
subsequent drilling. By February 2008, Teal Exploration & Mining Inc, then owning the Otjikoto Gold
Mine project had drilled 430 boreholes and had identified eight mineralised zones. These have been
geologically modelled based on vein intensity and vein mineralogy, using a 0.4g/t gold cut-off grade.
Inferred gold resources are approximately 1.92 million ounces with the resource grade of 1.26g/t.
Otjikoto Gold Mine EIA Report July 2012