Forward Africa Resources S.A.
F.A.R. Licence No. 223
Kindia & Dubreka Préfecture, Guinea
Bank Feasibility Study
Forward Africa Resources ("FAR"), a wholly owned subsidiary of AAM, owns the rights to a highly prospective exploitation license with a total area of 170 km2 located in the Dubreka / Kindia Prefecture some 170 km North-East of Conakry and some 25 km from the existing rail spur that connects the Kindia mine with the Port of Conakry.
In March 2015, a Mineral Resource statement (MRE) has been prepared independently by SRK Consulting (UK) Ltd ("SRK") in accordance with the Australasian Code for the Reporting of Exploration Results, Mineral Resources and Ore Reserves, The JORC Code, 2012 Edition ("JORC" or the "JORC Code").
Completion of a Measured Mineral Resource Statement in line with JORC Code (2012) was completed in November 2015 by SRK Consulting. The Measured Mineral Resource for the three of the five plateaux in the FAR License (Samaya, Elevation and Momo) highlights the following result:
Another drilling campaign was undertaken in May / June 2015, which consisted of 150x150m spacing on the Samaya and Elevation plateaux, to upgrade the existing resource to a higher confidence Measured Mineral Resource category. A total of 356 auger holes (3000m) and 9 diamond holes (90m) were drilled.
A feasibility Study and an Environmental and Social Impact Assessment (ESIA) was completed in 2016.
FAR was granted two exploitation licenses in April 2017 – one for each of Momo and Samaya/Elevation plateaux – to export bauxite at a rate of 3.0 to 5.0 million metric tons per annum with start-up planned by the Q3 2020.