A Colorado based mining interest, Bravo Resource Partners Ltd. has announced the signing of a Letter of Intent to enter a partnernership on the Akoon mine in Ghana, a statement from the company has said.
The Akoon mine is located at the southern end of the long belt of Tarkwaian sediments within the Ashanti Gold Belt. The statement describes the Belt as one of the world’s most prolific in terms of gold discoveries with over 60 million ounces of gold being produced from this area.
According to the release a 2001 resource estimate prepared for the Akoon mine resulted in an inferred resource of approximately 5.0 million tonnes of ore grading 11.06 grams of gold per tonne containing in excess of 1.6 million ounces of gold.
It also said the gold at the Akoon mine occurs in the conglomerate of Blanket Formation whose rocks are similar in many respects to the gold reefs of Witwatersrand in South Africa.
The release quoted Mr. Jeffrey Cox, President and CEO of Bravo Resource Partners, saying, “This is a significant and positive development for Bravo Resources. We are planning to dewater all of the underground workings of the mine. Dewatering will be done in two phases with mine production starting shortly after the completion. We will keep shareholders updated as to all developments at this property’s development as well as other corporate activities.”
Mr. Jeffrey Cox, President and CEO of Bravo Resource Partners, wishes to advise the shareholders regarding the resignations of Mr. Ernst Stagg as Treasurer and chief financial officer, Tyrone Carter as President, Melissa Walker and Mike Mele as directors. Legal council has reviewed and rendered opinion on the above. Shareholders are directed to view filings on Edgar, the release said.
According to the release, statements relating to completion of the acquisition and the Safe Harbor statement under the Private Securities Litigation Reform Act of 1995 are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Some or all of the results anticipated by these forward-looking statements may not occur.
It however identified that factors that could cause or contribute to such differences include, but are not limited to, contractual difficulties which may arise, the failure to obtain necessary approvals, the future market price of Bravo Resource Partners’ common stock and the ability to obtain the necessary financing.
By Emmanuel K. Dogbevi