DGAP-News: West Africa Mining Holding AG invests in gold exploration project in Senegal
(firmenpresse) - West Africa Mining Holding AG / Strategic Company Decision
24.03.2010 08:30
Dissemination of a Corporate News, transmitted by
DGAP - a company of EquityStory AG.
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West Africa Mining Holding AG 24.9% of the share capital of SN Mineral
Mining Ltd. with HQ in Birmingham, Great Britain. The share capital of SN
Mineral Mining Ltd. is currently 800,000 British pounds (around
EUR 900,000).
SN Mineral Mining Ltd. is currently carrying out a gold exploration project
in South East Senegal. The project is being led by the renowned geologist
Dr. Madani Diallo. SN Mineral Mining Ltd. already received a contract from
the Ministry of mining and raw materials to develop the local mining
industry, giving them the right to exploration, prospecting and extraction
of gold in the licence area of 'Velingara'. This area is in the immediate
geographical vicinity of the already proven gold deposits in South East
Senegal, and the geological and geophysical structures are thoroughly
comparable. The prospecting phase I of the work programme has already been
successfully completed. All information about the licence and licence area
can be found on the SN Mineral Mining Ltd. homepage.
http://www.sn-mining.com
The final report about prospecting phase I will be presented to the public
in the course of April 2010. The prospecting work for phase II has already
begun. In the course of the work programme of prospecting phase II several
thousand surface and rock samples will be taken from the licence area and
given to an independent laboratory for analysis
Dr. Diallo about the SN Mineral project: 'The licence area of Velingara in
South East Senegal at over 600km² and with the immediate geographical
connection to the previously discovered and current gold projects in this
region is one of the best destinations for prospecting precious metals in
West Africa. Very few companies are in possession of comparable licences.
The management and the shareholders ofSN Mineral Mining Ltd. have enabled
the immediate start of work in the licence area of Velingara due to the
formation of a solid capital structure. We, M-Consult, and myself
personally are convinced that we will soon be able to come up with the
first results of the research work in Velingara with regard to the
geophysical data available to us. Currently a team of over 30 geologists
and employees of M-Consult are working on the exploration project of SN
Mineral Mining Ltd. The work is going according to plan and we expect to
complete the prospecting work for phase II before the start of the rainy
season in July 2010. At the same time as these efforts I assume that we
will have the first laboratory analyses available in a few weeks, in order
to be able to make the area a focus of our efforts in the current
prospecting.'
Above and beyond this development, SN Mineral Mining Ltd. has been able to
secure the rights to a second licence area in South East Senegal for
exploration, prospecting and extraction of gold in the past few weeks. The
contractual regulation of this exploration procedure has already been
signed by the Minister for mining and raw materials. Details of the second
licence will soon be available to the public and our shareholders on the
homepage of SN Mineral Mining Ltd.
You can find more informationat;
West Africa Mining Holding AG
Untermüli 6
CH-6300 Zug
Switzerland
Email info(at)westafrica-mining.com
Internet http://www.westafrica-mining.com
Tel +41 (44) 586 0 111
About West Africa Mining Holding AG
West Africa Mining Holding AG is an investment company focusing purely on
exploration, mines, crude oil and gas pumpingcompanies. Westafrica Mineral
Mining Ltd. is a 100% subsidiary company of West Africa Mining Holding AG.
The company model of West Africa Mining Holding AG is based on the
financing and development of new exploration companies in areas with above
average potential for mineral extraction. The investment horizon of the
individual projects and investments is 2 to 5 years.
About SN Mineral Mining Ltd.
SN Mineral Mining Ltd., Great Britain, with a branch office in Dakar,
Senegal, is currently carrying out an exploration to prospect for gold and
other precious metals in South East Senegal. The country of Senegal is one
of the most economically and politically stable countries in the region of
West Africa. Leading raw material exploration companies such as
AngloGoldAshanti, Randgold, Oromin, Arcelor Mittal, MDL Deposits and
IAMGold have been active in Senegal for many years. SN Mineral MiningLtd.
will be present as an exhibitor at the largest mining trade fair in West
Africa from 12th to 15th April in Dakar, Senegal.
More information at;
SN Mineral Mining Ltd.
69 Great Hampton Street
B18 6EW Birmingham, United Kingdom
Senegal branch
SN Mineral Mining Ltd.
8 Rte Meridian President -R/C Esq.
Almadies - Dakar
E-mail mail(at)sn-mining.com
Website http://www.sn-mining.com
24.03.2010 08:30 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv atwww.dgap-medientreff.deandwww.dgap.de---------------------------------------------------------------------------
Datum: 24.03.2010 - 08:30 Uhr
Sprache: Deutsch
News-ID 17944
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