Projects
Blue Magnolia Limited
Equatorial Guinea
Mining
Equatorial Guinea
In November 2019, Blue Magnolia Ltd was granted three Prospecting Contracts within the Rio Muni Province by the Ministry of Mines and Hydrocarbons of Equatorial Guinea.
Block K comprises 3 sub-blocks adjacent to each other located in the Mongomo area towards the northeast of the Rio Muni Province. The total size of Block K is approximately 566 square kilometres. Mineral prospecting is valid for gold.
At present Blue Magnolia is focused on early-stage mineral exploration and is currently assessing gold and base metal opportunities in the Rio Muni province.
Historic artisanal gold production and widespread alluvial gold occurrences suggest that the Precambrian, both Archean gneisses and Palaeoproterozoic basins are highly prospective for gold in the Rio Muni Province. The major gold producing areas are located at Coro, Aconibe, Mosec and Mongomo.
Reconnaissance
During a reconnaissance visit in November 2020, the team visited some of these areas and from a regional and high-level perspective, they are comfortable that remote sensing work reflects the geology and structures observed to date. The team also observed active alluvial workings in the centre of the Block K, with a large number of visible gold grains being recovered.
Project Initiation
A confirmatory, regional-scale stream sediment sampling survey was completed in Block K between May and August 2021. Two samples were collected at each sampling site; a gold panning sample and an additional sample that was processed into BLEG and multi-element samples. All samples were sent to ALS Laboratories in Kumasi, Ghana. The panning, BLEG (Au-ppb) assays and multi-element analyses were received in late September and early October 2021.The Au-ppb (Panning and BLEG) assay results indicate several areas with elevated gold showings. These are associated with an aeromagnetic anomaly in the north-east, a diabase intrusion in the north as well as NS and NW/SE trending structures. Elevated showings of Cu, and Cr are present within the same aeromagnetic/ Au anomaly in the northeast of Block K. initial targets have been selected for follow-up, commencing in November 2021. Much closer spaced stream sediment sampling will be done to more accurately locate the alluvial gold anomalies.
Follow Up Exploration
Follow-up assay results indicate that BML Block K, Anomaly A is highly prospective for potential mineralization. BML has targeted 3 areas in Anomaly A where gold grades range between 1440 – 3220 ppb Au. (1 – 3 grams per tons).
BML have completed regional mapping and stream sediment sampling over Block K. The results identified multiple areas of elevated gold in distinct drainage basins, associated with high density lineament corridors or zones (i.e.; evidence of shearing and quartz vein development).
Gold results of 1440 – 3220 ppb Au and 1220 ppb Au were returned from Anomaly A and E samples respectively and a total of 78 samples gave results of >150 ppb Au ( i.e.; 1 – 3 grams/ton).
Anomaly A Elevated Gold Values
There are 3 areas of elevated gold values Anomaly A (1440 – 3220 ppb Au).
Two areas close to the village of Eben in the north of Anomaly A shows elevated results for gold (Au), as well as arsenic (As), chrome (Cr), copper (Cu), silver (Ag) Nickel (Ni) and zinc (Zn). This area is located on the boundary of an EM anomaly and is the site of historical artisanal workings.
An anomalous area to the south of Anomaly A is located on a geophysical magnetic anomaly which shows elevated results for gold (Au), copper (Cu), nickel (Ni), lead (Pb) and zinc (Zn).
BML Planned Activities
BML intends to fully test the high interest anomalous gold assay results in Anomaly A for potential to host orogenic type gold mineralisation.
The immediate focus is to follow up these encouraging results with an extensive trenching and soil sampling program.
Trenching will be used to identify the extent and characteristics of the structure and mineralization, create targets for future drilling programs focused on defining a mineral resource (MRE).
