2023-05-17 11:38:00 ET
?Overview
Alma Gold (CSE: ALMA ) is a mineral exploration and development company focusing on its Karita Gold Project in Guinea, West Africa. The company is currently acquiring additional exploration permits in Guinea as it moves towards development and prioritizes maintaining a high ESG rating throughout the exploration and mining cycle.
Gold recently reached an 11-year high, making 2022 the strongest year for gold demand in over a decade . While gold prices have declined slightly since, strong interest and demand remain for the precious metal.
West Africa is among the most prolific and productive gold exploration regions, globally. Alma Gold’s main asset in Guinea, the Karita Gold Project, contains a total of four exploration permits located immediately adjacent to IAMGOLD’s newly discovered gold deposit . The Karita Gold Project sits on a Birimian-aged greenstone belt, an extensive mineralization zone that hosts prolific gold deposits. Alma Gold has a comprehensive exploration plan, which is currently moving toward the maiden drilling program stage.
The company’s Clarence Stream North Gold Project is located in New Brunswick, Canada. Recent soil sampling at the project resulted in promising gold-in-soil assay results, encouraging the company to move forward with the next phase of exploration, which includes additional infill soil surveys, and geological mapping and prospecting.
Alma Gold focuses on maintaining a high ESG rating at every step. The company actively engages with local communities, artisanal gold miners, and governments during the permitting process and closely monitors its environmental footprint in each region. Alma Gold CEO Greg Isenor has been widely recognized for his impressive ESG work in previous projects, with more than 20 years of experience working in West Africa, striving to build a strong ESG rating with every project.
An experienced management team with expertise throughout the natural resources industry leads Alma Gold toward growing its assets. Greg Isenor has a track record of leading successful gold discoveries in West Africa. Alma Gold director Jean Marc-Gagnon has over 35 years of experience in the mining industry, which includes developing gold projects in West Africa. Additional experts in mining, capital markets, international finance, and corporate administration round out the team.
?Company Highlights
- Alma Gold is an exploration and development gold company focusing on its gold assets in Guinea, including acquiring additional exploration permits.
- The company prioritizes achieving a high ESG rating throughout the exploration and mining cycle by building strong relationships with local communities, artisanal miners, and government officials.
- The Karita Gold Project in West Africa contains four exploration permits adjacent to prolific gold discoveries made by neighboring mining companies including IAMGOLD.
- Alma Gold has developed a comprehensive exploration plan for the Karita Project and is progressing towards commencement of its maiden drilling campaign.
- Alma Gold is actively pursuing additional exploration permits in the region to further increase its land position in East Guinea along the prolific Sanankoro-Kobada-Niaouleni Gold Corridor from Mali.
- Gold reached an 11-year-high spot price in 2022, and demand for the precious metal remains strong amid macroeconomic uncertainty.
- The company’s Clarence Stream North gold project in New Brunswick, Canada recently returned encouraging gold-in-soil assay results indicating the asset's potential.
- Alma Gold’s CEO Greg Isenor has a long track record of working in West Africa and leading projects with a high ESG rating.
- A team of experts with a proven track record of success throughout the mining industry leads the company toward success.
?Key Projects
Karita Gold Project
The company’s Karita Gold Project covers 392.1 square kilometers in Guinea, West Africa. Alma Gold acquired the project in February 2021, and no exploration had been previously conducted on the property. The company is now following its exploration plan to determine the depths and grades of potential gold deposits.
Project Highlights:
- Encouraging Adjacent Gold Deposit : The adjacent IAMGOLD deposit has produced encouraging drill results that indicate what’s possible at the Karita Project. Results include:
- 29 meters at 2.96 g/t gold
- 16 meters at 3.17 g/t gold
- 21 meters at 9.01 g/t gold
- Robust Exploration Plan : The company has been following its comprehensive exploration plan leading up to its maiden drilling campaign to begin determining the extent of potential gold deposits. The plan includes the following:
- Ongoing mapping and prospecting
- Interpreting assay results from the termite mound sampling program
- Maiden air core drilling to follow up on termite assay results
- Prolific Birimian Greenstones : The asset contains significant gold deposits within the Birimian-aged greenstone rocks in West Africa. Alma Gold’s team of experts is familiar with working with these types of greenstone rocks helping guide the company’s exploration efforts.
Clarence Stream North Gold Project
The company’s 100-percent-owned Clarence Stream North Gold Project comprises two projects totaling 3,440 hectares in southwestern New Brunswick, Canada. As Alma Gold’s secondary project, exploration and development will continue alongside advancements on its West African gold projects.
Project Highlights:
- Mining-friendly Jurisdiction : New Brunswick is a mining-friendly jurisdiction with an experienced local workforce and robust existing infrastructure.
- Promising Geological Characteristics : The asset sits upon the Sawyer Brook Fault System, which also hosts significant gold and base metal deposits operated by multiple mining companies.
- Encouraging Soil Samples : Soil samples from a 2020 soil sampling program returned values ranging from 5 parts per billion (ppb) gold to 32 ppb. These results indicate the potential for significant deposits as exploration continues.
?Management Team
Greg Isenor - President, CEO and Director
Greg Isenor is a member of the Association of Professional Geologists of Nova Scotia. He is a director of Roscan Gold Corp engaged in gold exploration in West Mali and a CFO and director of Sylla Gold also exploring gold in Mali. Isenor was president, CEO and director (2005 to 2017) of Merrex Gold Inc. until Merrex was taken over by IAMGOLD Corp. During that time, Merrex discovered two significant gold deposits in Mali, the Siribaya deposit and with JV partner IAMGOLD, the Diakha deposit. Previously, Isenor was the president, CEO and director (2003 to 2005) of Jilbey Gold Exploration Ltd. until Jilbey was acquired by High River Gold Mines Limited. During his time with Jilbey, Isenor led the team that identified the Bissa gold deposit in Burkina Faso (West Africa), which was placed into production by Nord Gold.
James Henning - CFO
James Henning is a chartered accountant and the founder and president of Corpfinance Advisors Inc. since 1984. Henning has solid expertise and practical experience in valuing businesses in a broad range of industries. He has assisted companies in financing, public offerings and restructuring. Areas of expertise include retail cannabis, manufacturing, telecommunications, software, biomedical, oil and gas services, and renewable energy industries. Henning has served as a chief financial officer and director for a number of TSX Venture Exchange and Canadian Securities Exchange-listed companies over the past several years, including Stellar AfricaGold Inc. and Major Precious Metals Corp.
Jean-Marc Gagnon - Independent Director
Jean-Marc Gagnon is a professional geologist with more than 35 years of experience in the mining exploration sector. Gagnon has been involved in the management, evaluation and development of mining exploration projects for gold, mainly in West Africa (Mali, Burkina Faso, and Guinea). He has worked in various capacities, including country manager, exploration manager and consulting geologist, for a number of junior mining companies including Roscan Gold Corporation, Merrex Gold Inc., Frontline Gold Corporation, Jilbey Gold Exploration Ltd., Ressources Incanore Ltee, EAG Inc. and Gold Star Resources Ltd.
Eugene Hodgson - Independent Director
Eugene Hodgson is an accomplished senior executive with over 30 years of public and private sector experience. He is the president of Fabled Copper Corp., a copper exploration company focused on British Columbia. In addition to his executive roles, Hodgson is a director of Century Metals Inc., Rover Metals Inc., and Red Lake Gold Inc. He holds a Bachelor of Arts (political science) from the University of Calgary.
Lauren McCrae - Independent Director
Lauren McCrae is a public affairs, marketing and brand researcher currently working with WorkSafe BC as a manager, experience. She is multilingual and holds a BA in international studies from York University, a master’s in international security from the Paris Institute of Political Studies in Paris, France, and an MSc in international political economy with distinction from the London School of Economics. McCrae has significant ESG knowledge and international development experience in Africa, including Mali.
Paul Ténière - Independent Director
Paul Ténière is a professional geologist with nearly 25 years of diverse experience in the mining and oil & gas sectors in Canada, United States, and internationally. He is a mining consultant and acts as a technical advisor for several mining companies. Ténière is also a director of Metallica Metals Corp. and KO Gold Inc. He holds a B.Sc. (Hon) in Earth sciences from Dalhousie University and an M.Sc. in geology from Acadia University.
For further details see:
Alma Gold