Signature Metals (SBL)

Shares / Stock Code

SBL

Stock Exchange / Sharemarket

Australian Securities Exchange

Signature Metals (SBL) is an Australian-based minerals exploration company. The company also controls large exploration licences and applications in Kenya and Uganda that are prospective for iron ore, nickel and copper. The company was listed on the Australian stock market (ASX) on 20 January 2004.

With control over large exploration licences and applications in Kenya and Uganda, SBL has the opportunity to assemble a package of quality resource projects in Africa. The company is still in the process of assessing its projects, and, thus, does not have any major customers.

During the fiscal year ended June 30, 2009, the principal focus of the Company was the assessment of the Konongo Gold Project in Ghana and assessment of its properties in Uganda. On May 12, 2009, the Company acquired an option to acquire 70% of the Konongo Gold Project, located in the Ashanti Gold Belt of Ghana. The Konongo Gold Project comprises 192 square kilometers of granted tenure and contains 16 gold deposits along 12 kilometers of strike of the Ashanti Gold Belt.

The Konongo Gold Project is situated in the Ashanti Gold Belt, which hosts the Obuasi Gold deposit, operated by Anglogold Ashanti Limited, and the Prestea/Bogosu deposits, which are mined by Golden Star Resources Limited. The Company’s subsidiaries include Uganda Minerals Pty Ltd and Embuyaga Exploration Ltd.

Konongo Gold Project

Signature Metals Limited has acquired 70% of the multi million ounce Konongo Gold Project located in the world class Ashanti Gold Belt of Ghana. Past production from the Project totalled 1.6 million ounces at a head grade of 11.8g/t gold. The Company is focussed on developing the Konongo Gold Project into a +100,000 ounce per annum gold producer from the existing JORC Resources of over 1.2 million ounces.

The Konongo Gold Project comprises 192km2 of granted tenure and contains 16 known gold deposits along 12 kilometres of strike of the Ashanti Gold Belt. The project currently has JORC compliant resources of 17.9 million tonnes at a grade of 2.10g/t in the Indicated and Inferred categories for a total of 1.21 million ounces of gold. Additionally, significant infrastructure remains on site including a 350ktpa CIL plant. The Company is actively assessing its options to rapidly move the project into production.

Signature Metals (SBL) Products and Services

  • Mineral exploration.

Signature Metals (SBL) Locations and Subsidiaries

Signature Metals Head Office
Level 1, 33 Richardson Street, WEST PERTH,
WA, AUSTRALIA, 6005
Phone: 08 9481 0101
Fax: 08 9200 4469

Signature Metals (SBL) Share Price

Submitted by ASX Listed Company on 30 May, 2010 - 16:46

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