Agricola Resources is a UK based gold exploration company listed on the UK's PLUS market. The Company is focused on identifying commercially exploitable gold deposits in North Africa, with initial exploration targets in the Anti-Atlas area of the Kingdom of Morocco.
Agricola is debt free, with an experienced management team and supportive shareholders.
In November 2009 the Company was granted two gold exploration licenses in the Tan Tan Province, Guelmin-Es Semara region of Southern Morocco - see map (PDF file).
Under the terms of a Joint Venture Agreement with the Minerals Exploration Branch of the Moroccan State Bureau for Mines and Hydrocarbons (ONHYM), Agricola is entitled to earn up to 100% of the projects by funding all exploration costs. Agricola will have management control of the exploration phase. If an exploitable deposit is located, Agricola will pay ONHYM a 2% net smelter return thereafter. ONHYM will have the option to retain a 30% interest in the exploitation and development company.
The Ain Kerma Project: Anti Atlas Mountains, Southern Morocco
The project is located some 30km ENE of the town of Tan Tan and approximately 50km from the Atlantic seaboard.
ONHYM has already spent approximately around USD one million over three years in exploration costs. This work has identified many gold bearing quartz veins. Of these, the 400m long AK-1 vein has identifiable gold values from 0.1 - 6.5 grams per ton gold, with an exceptional value of 147 grams per ton of gold. The AK-4 structure extends for 800m with a 300m section values from 4.7 to 56 grams per ton of gold over 0.3 - 1.2 m.
A further 50 parallel to sub-parallel NW-SE trending quartz structures have been identified at Ain Kerma.
The Toufrite Project
At Toufrite, gold occurs in a NW-SE trending quartz vein developed within a granitic stock that intrudes a sequence of sandstones and volcanic breccias. The quartz vein extends for 230m and ranges in width from 1 to 6 metres. Gold values vary from 0.2 to 14 grams per ton of gold with two exceptional values of 21 and 31 grams per ton gold.
Further Opportunities
The Board of Agricola Resources believe that the prospects for the price of gold offer excellent opportunities for junior gold exploration companies that can rapidly identify exploitable gold deposits. Agricola's Moroccan projects have already identified significant gold values.
The Company will continue to search for further opportunities elsewhere in North Africa which has a long and successful history of gold mining.
