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OPERATIONS
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Tan Tan Province, Guelmin-Es Semara region of Southern Morocco
In November 2009 the Company was granted two gold exploration licenses in the Tan Tan Province, Guelmin-Es Semara region of Southern Morocco.
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, subject to the payment of certain fees and offering a 2% Net Smelter Royalty to ONHYM if a commercial resource is exploited. ONHYM can earn up to 30% of the project by funding the same proportion of exploration costs.
The Ain Kerma Project
The project is located some 30km ENE of the town of Tan Tan and approximately 50km from the Atlantic seaboard. The project is characterised by oer 50 parallel to sub-parallel NW-SE trending quartz structures. 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.
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.
There are also base metal and silver values. The vein is somewhat fractured and iron oxides occur along the fractures. A second vein with similar characteristics, albeit somewhat narrower, occurs close by. The structures at Toufrite have not been studied in detail.
The high gold potential of the Precambrian inliers of the western Anti Atlas is illustrated by another of these inliers called Tagragra de Akka. At the Iourirn deposit, gold in quartz veins is currently being mined by the Akka Gold Mining Company, a subsidiary of the Managem Group. A resource of 2.4 million tones grading 12.5g/t Au was initially estimated. The Iourirn deposit is situated some 200km ENE of the Ain Kerma – Toufrit Area but much of the intervening ground corresponds to a Paleozoic sedimentary cover.
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