Erin's Nigeria Overview
- Erin has secured and is exploring 3 extensive gold mineralising systems evidenced by widespread artisanal and/or historical European workings, geological mapping, and rock chip and soil sampling in structural settings with analogies in the major world orogenic gold provinces.
- Two of the gold systems have been partially evaluated in first pass drilling with encouraging results (8.3m @ 3.7g/tAu, 15.9m @ 2.9g/tAu at Gobirawa and 7.0m @ 1.7g/tAu at Malele). Follow up infill soil sampling and RAB fence drilling in 2012 is proposed at all projects.
- 30 kilometre gold anomalous structural trend defined through soil geochemistry at Malele, outlining a large gold mineralising system having analogies with some of the major systems in West Africa. Drill testing over a small part of its extent has confirmed widespread structurally controlled gold mineralisation.
- At Gobirawa a substantial gold mineralised system containing ore grade drill intercepts has been identified. The system is up to 350 metres wide and extends over 1 to 2 kilometres.
- Large gold systems identified at Bukuyum-Dogondaji and Mahuta with associated extensive artisanal workings. Anomalous gold mineralisation in a strong alteration system confirmed in first pass drilling at Bukuyum.
- Nigeria is the second largest economy in Africa with increasing political stability and attractive investment conditions to mid-2011 that saw a rapid increase in foreign investment. This has started to deteriorate toward the end of 2011 and early 2012. The Government is committed to working toward resolving the developing conflicts.
- A new Mining Law introduced in 2006 has provided for the first time a framework for world standard exploration and mining investment. Erin by establishing a strong presence in 2007 has had a first mover advantage.
