Red Back Mining Chirano Gold Mines Ltd: A Comprehensive Overview
Red Back Mining Chirano Gold Mines Ltd is a publicly held resource corporation based in Vancouver, Canada. The company’s principal asset is the Chirano Gold Project located in Ghana, West Africa. With proven and probable reserves of 178 million tonnes grading 1.9 g/t gold, the project holds approximately 10.9 million ounces of contained gold.
The Chirano Project is situated within the Bibiani gold belt, along the same strike as Ashanti Goldfields Bibiani gold mine. A bankable feasibility study has been completed on the project, and gold production is expected to commence in mid-2005. The initial mine life is estimated to be 8.5 years, with an annual production of 123,000 ounces of gold.
In addition to the Chirano Project, Red Back Mining Chirano Gold Mines Ltd has other exploration projects and significant landholdings in Ghana. These projects are located in proximity and along strike from Chirano and elsewhere in Ghana.
The company’s other key project is the Farim phosphate deposit in Guinea-Bissau, West Africa. A feasibility study has been completed, and Red Back Mining Chirano Gold Mines Ltd is actively pursuing the advancement of the project towards a development decision.
Exploration and Development
Red Back Mining Chirano Gold Mines Ltd has undertaken a systematic reconnaissance exploration program to identify underground targets and enhance its understanding of the geology in the region. The company has also conducted soil sampling grids and trenches to further explore the potential of its landholdings.
Recent drill results have been promising, with trace element signatures indicating the presence of mineral substances that belong to the gold mineralization system. These results have further validated the company’s exploration efforts and provided valuable insights for future development.
Red Back Mining Chirano Gold Mines Ltd has reached full potential in terms of its geological exploration. The bankable feasibility study submitted for the Chirano Project has culminated in a comprehensive assessment of the project’s economic viability and technical feasibility.
Environmental Responsibility
Red Back Mining Chirano Gold Mines Ltd is committed to operating within strict environmental constraints. The company adheres to international best practices and implements measures to minimize its environmental impact.
As part of its environmental management plan, Red Back Mining Chirano Gold Mines Ltd has implemented a tailings storage facility to safely store and manage waste materials. The company also follows exceptional temporary admission and customs relief measures to ensure compliance with local regulations.
Corporate Performance and Partnerships
Red Back Mining Chirano Gold Mines Ltd is listed on multiple stock exchanges, including the Australian Stock Exchange, Toronto Stock Exchange, and Frankfurt Stock Exchange. The company’s stock, under the ticker symbol “RED,” has performed well in recent years, attracting investors and achieving mid-tier status.
Red Back Mining Chirano Gold Mines Ltd has also formed strategic partnerships with reputable organizations in the mining industry. Canaccord Genuity Corp, a leading investment banking and financial services firm, has provided valuable support and expertise to the company.
Lundin Mining, a global mining company, has repaid its debt to Red Back Mining Chirano Gold Mines Ltd, further strengthening the company’s financial position and allowing for continued growth and development.
Ghana’s Golden Triangle
Ghana’s Golden Triangle, which includes the Chirano Project, is a highly prospective region for gold exploration and mining. The Ashanti Gold Belts, known for their rich gold deposits, are located within this area.
Red Back Mining Chirano Gold Mines Ltd’s presence in Ghana’s Golden Triangle positions the company to capitalize on the region’s vast mineral potential. The company’s exploration efforts have identified promising soil anomalies, indicating the presence of additional gold mineralization.
Contact Information
Contact No: 233 24 433 2734
Postal Address: Box 57, Bibiabi, WR, Ghana
Email: Send Enquiry
Location: Bibiani, Western Region
Website: http://www.redbackmining.com