Reservoir is developing an African exploration and project portfolio with an initial focus on West Africa targeting greenstone belts which host multimillion ounce gold mines and billion tonne iron ore mines.
The Company is currently exploring two 1,000 square kilometres exploration permits in Cameroon, Bibemi and So’o, which cover unexplored Panafrican and Archean greenstone formations. In the northernmost license, Bibemi, the Company has undertaken a soil geochemistry survey, the results confirm the presence of two parallel NE-SW trending structures over a strike length of 20 kilometres that are clearly identified by soil samples containing greater than 20 parts per billion (ppb) gold, and along which anomalous centres are marked by samples containing 101 – 729 ppb gold.
The Company is currently exploring two exploration licences in Gabon, Mitzic and Boumango exploration permits.
The Mitzic exploration permit covers 516 square kilometers and is underlain by Archean granites and lies 3 kilometers north of the regionally significant, east-west striking, Nkol fault zone. A previous soil geochemistry survey and verification survey conducted by the company has identified four anomalous clusters with contiguous gold-in-soil values of greater than 20 parts per billion (ppb) gold, up to a maximum of 134 ppb gold. The anomalous clusters occur within an area approximately 11 kilometers on strike by 2 kilometers wide, which is open to the northeast.
The Boumango exploration permit covers 322.6 square kilometers in southeast Gabon and is underlain by Archean greenstones, granites and gneisses that are overlain by Proterozoic metasediments. A previous soil geochemistry survey and verification survey conducted by the company has identified three distinct robust gold-in-soil anomalies (greater than 20 ppb gold, maximum 379 ppb gold) in an area measuring 9 by 6 kilometers.