LANGU PROJECT
The Langu gold property is located in Satun Province, southern Thailand. It originally consisted of four Special Prospecting Licenses (SPLs). Two of the Langu licenses expired on July 2, 2009 and the Company reapplied over the same general but most promising ground for one new SPL, thereby relinquishing areas that do not warrant further work. At the time of application the Thai Government was discussing a New Gold Exploration and Exploitation Policy, which was only very recently concluded (2011). During this period there was a moratorium on new applications for gold SPLs and so the Amanta SPL in Langu has been waiting for approval since that time. With the new Policy now approved, it is expected that the Langu SPL will be issued in the short term and that work there can be resumed, subject to financing conditions. The two remaining SPLs did not show any promise and the Company allowed their validity to expire in late 2011.
The new SPL covers an area of 4000 rai, approximately 640 hectares (16 km2), covering the anomalous gold trend and those areas over which mapping and sampling have rendered positive results. The Company believes that the property holds significant potential for sediment-hosted, so called Carlin-style gold mineralization. The mineralization is closely associated with decalcification and partial replacement of calcareous shale by silica and is chemically associated with arsenic and antimony.
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