Giro Gold Project
Two granted exploration permits in the Moto Greenstone Belt of north-eastern Democratic Republic of Congo, covering 497km² approximately 35km west of the world-class Kibali Gold Mine.
Project Overview
The Giro Gold Project is located in the Moto Greenstone Belt in the Haute-Uele Province of north-eastern Democratic Republic of Congo, approximately 35 kilometres west of the world-class Kibali Gold Mine. The project covers a total area of 497 square kilometres across two granted exploration permits, PE 5046 and PE 5049.
DRC Gold Corp has entered into a non-binding term sheet to acquire a 55% indirect interest in the project, positioning Giro as a cornerstone gold asset within a proven gold-producing region.
Geological Setting
The Giro Project sits within the same regional geological framework as the Kibali Gold Deposit and displays a comparable style of mineralisation and structural controls. Gold mineralisation is associated with silica flooding, quartz stringers and sulphide development, with mineralised structures remaining open at depth.
The project hosts two principal deposits, Kebigada and Douze Match, both of which demonstrate scale, continuity and geological characteristics consistent with major gold systems in the Moto Greenstone Belt.
Kebigada Deposit
The Kebigada deposit is defined over a strike length of approximately 1.3 to 1.5 kilometres and a width of 350 to 400 metres. Mineralisation is open at depth in all directions and exhibits a northward plunge.
Historic work has identified extensive gold mineralisation associated with silica flooding and sulphide development. A historic mineral resource estimate of 2.4 million ounces at an average grade of 1.09 g/t gold (JORC 2012 Indicated) was defined by H&S Consultants Pty Ltd for Amani Gold Limited. These results were documented in the National Instrument 43-101 Technical Report for the North Congolese Gold Project dated 20 March 2020.
Douze Match Deposit
The Douze Match deposit is defined over a strike length of approximately 2.6 kilometres and a width of up to 600 metres. The deposit lies within a broader 6 kilometre by 2.5 kilometre gold-in-soil anomaly, with extensive artisanal mining activity highlighting the prospectivity of the area.
A historic JORC 2012 Indicated mineral resource of 84,879 ounces at an average grade of 1.2 g/t gold was estimated for the Douze Match target by H&S Consultants Pty Ltd. These results further support the potential for additional resource growth through systematic exploration.
Transaction Structure
Under the proposed transaction, DRC Gold Corp may acquire a 55% registered and beneficial interest in Giro Goldfields through the issuance of 250 million common shares to Amani Consulting. Following completion, the board of directors will be reconstituted to include five directors, three of whom will represent Amani Consulting.
DRC Gold Corp also holds an option to acquire the remaining 10% interest held by Amani Consulting, either by paying US$30 million within 12 months of closing or US$50 million within 24 months of closing.
