Full executive summary

EXECUTIVE SUMMARY

The Company’s aim is to prospect, identify and explore for new mineral discoveries in the Republic of Sierra Leone and internationally, that will significantly upgrade the value of the projects, with the ultimate goal being the mining of identifiable and economical resources.


The Government of Sierra Leone (GoSL) through the Ministry of Mines and Minerals Resource and the National Minerals Agency successfully granted an exploration license (EL 04/2013) of approximately 124.03 km2 to MAGNUM LINK (SL) LIMITED on 13th May, 2013 to explore for gold, diamond and all minerals within the concession boundary. The license area is located in the Kasunko Chiefdom in the Koinadugu District, Northern Province of the Republic of Sierra Leone and lies within map sheets 010 and 011 on the scale of 1:50,000.

The Company’s aim is to prospect, identify and explore for new mineral discoveries in the Republic of Sierra Leone and internationally, that will significantly upgrade the value of the projects, with the ultimate goal being the mining of identifiable and economical resources. The primary target commodities are gold, diamond, silver and other base metals. MAGNUM LINK (SL) LIMITED also aimed to buy, sell, export and otherwise trade in precious stones both in Sierra Leone and to the international markets in general.


Following granting of the license in April, 2013 which is in accordance with the Mines and Minerals Act 2009, preliminary work commenced with the acquisition of Remote Sensing Dataset (RSD) to observe geomorphological and neotectonical signatures of the licensed area have been concluded and analyzed. Based on the interpreted results from these acquired RSD of the license area, the forecast of exploration upside for discovery of mineral deposits and ore occurrences are encouraging and have been demonstrated to be outstanding.

In addition to the acquisition of RSD, reconnaissance traverses were conducted including but not limited to; field visits along watercourse sites, areas of rock exposures and historic artisanal mine sites by indigenes, all been observed by our technical experts. Previous artisanal mining within the neighboring topographical sheets show an indication of the presence of gold within the concession area. With the interpreted RSD, reasonable geological mapping and mineral exploration will be commenced to follow up and verify the identified areas of possible mineralization that would lead to targets generation in coming years.

As interpreted results depict promising indicators of mineralization, technical staff of MAGNUM LINK (SL) LIMITED are currently strategizing to remobilize in full scale operations after cessation of its operations due to the outbreak of the Ebola Virus Diseases. Desk top studies have now advanced into incorporating field investigation by way of confirmation of geophysical anomalies and collection of geological data from various historic exploration sources into its exploration work program.