Natalie Bellis, CEO of Seventy Ninth Resources, was joined by Mamoudou Diawara, head of geology (clad in brown khaki and a backpack); Hadja Camara, a geologist (in yellow attire with a white veil); and Noumagan Doumbouya, Hadja’s assistant (dressed in blue), along with other regular visitors.
Seventy Ninth Resources Limited, a Gibraltar-based exploration firm, has pinpointed several gold-rich zones at its LM project in the Siguiri Basin, Guinea, West Africa. This significant discovery is part of the company's ongoing exploration activities in both Guinea and Ontario, Canada. This news is particularly relevant for UAE-based investors, as the Emirates government seeks to diversify its economy beyond oil. The positive gold forecast comes as a welcome development following the recent bullish trend in crude oil prices. Despite the recent unrest in the region causing oil prices to dip this week, the ongoing threats to oil infrastructure persist. The current volatility in the oil market stands in stark contrast to the growth potential and stability offered by the precious metals market. Gold, often considered a 'safe-haven' asset, is known for its tendency to appreciate during turbulent times, making it a valuable addition to any investment portfolio.
Seventy Ninth Resources' Chief Geologist, William Slater, shared insights on their findings: “Our soil sampling has uncovered multiple gold anomalies along an 8 km geological structure.” A geophysical survey is scheduled to commence shortly, with the previously identified geochemical anomalies being the primary focus. Samples taken from local mining pits in Guinea have shown high gold content, with results reaching 10.74g/t and 8.32g/t of gold per tonne.
Natalie Bellis, CEO of Seventy Ninth Resources, expressed her enthusiasm: “We are thrilled by this next phase in the development of the LM gold project. These findings underscore our capability to identify high-quality targets across our projects.” Positioned as a sustainable exploration company, Seventy Ninth Resources is deeply committed to the communities in which it operates. The organization supports these communities by fostering a sustainable future through education and enhanced safety standards. The LM project in Guinea is situated in the Mandiana region, 590km east of Conakry, in close proximity to other major gold mines. For UAE-based investors, this discovery presents a promising avenue in the gold sector, offering a stable and potentially high-yield investment. Seventy Ninth Resources shows robust potential for future growth and development, making it a strategic component of any diversified investment portfolio.
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