CHRISTOPHER GOSS
Chairman of the Board
Christopher, minerals financier & economist, ran business development for natural resources for the IFC (International Finance Corporation) out of London office from 2006-2010, IFC is private sector arm of the World Bank Group, and is a major private sector investor in mining in emerging markets. Earlier he led IFC mining transactions in Africa, Russia, Central Asia and and Latin America. Prior, he advised African governments in natural resource policy and, negotiations in Ghana, Tanzania, Mozambique and Swaziland. From 2010—2017 he was on the board of and latterly Non Executive Chairman of Triple Plate Junction, now Tethyan Resources, which was listed on AIM in London.
THE SOKDEE PROJECT
MAJOR MINERALIZATION BELT WITH >1 MOZ AU POTENTIAL
Annamite is working to bring near surface targets to account within three to five years and attract a large player to tackle longer term targets.
Annamite Resources has recently conducted an extensive review of drill core, surface geology and existing geophysical and geochemical data. Three surface and near-surface targets have emerged which in aggregate could contain 1-1.5 Moz of gold (plus silver and base metals). These could rapidly be taken through exploration, resource estimation and conceptual study and on to exploitation within a three year time frame. The three large scale porphyry targets will require deep pockets and much longer time frames to explore and bring to account.
The Sokdee and Vangma Projects are located about 75 km northwest of Vientiane and 25km southwest of a new high-speed railway line and highway connecting Vientiane and China. Water and hydroelectric power are abundant. This rural location primarily consists of low density rubber plantations and with no villages in the Sokdee tenement. Annamite has a field base in Navay village. Our expatriate chief exploration geologist leads the team comprisinga senior geologist, three experienced geotechnicians, administrative and community liaison officers.
TECHNICAL UPDATE
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The first exploration campaign in 2022 focused on the southern part of the tenement consisted of soil geochemistry, drone magnetics and a scout drilling program of eight core (DD) holes. Three targets were identified: Namthom porphyry, Palm and Spine. In 2023, the exciting new Mouk target located in the northern part of the tenement was identified, with multi-element soil geochemical results and coincident IP chargeability anomalies showing significant potential. Geophysical surveys include drone magnetics survey to cover Namthom, Mouk and Mouk West targets, plus two induced polarization (IP) surveys to better understand the geometry of the potential deposits at Namthom and Mouk. The 2023 Stage-1 drilling program included nine short Reverse Circulation percussion (RC) holes along strike into the peripheral targets of Spine and Palm, in and around Namthom prospect. Stage-2 drilling in July-October 2023 included a total of four DD holes, three of which tested Mouk and one at Namthom. The Boundary target was confirmed in February 2024. Annamite applies best international practice to all programs since due diligence work commenced in 2020.
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The six Sokdee targets in relation to interpreted geology are presented in the figure below.
The table below summarizes sampling and drilling done by LHBS/Annamite between 2022 and 2024.
INITIAL RESULTS
Based on the results of 2022 and 2023 exploration programs, Annamite has discovered significant Cu-Au-Mo porphyry systems with adjacent Au-Ag-base metal prospects.
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The best drill results are hole NT22-003DD with 60m @ 0.22g/t Au, 0.4% Cu, and 88ppm Mo from 24m. There are also significant intercepts of Au, Ag, and base metals at Palm and Spine targets, augmented by a 2023 RC intercept at Spine:​​
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At Spine Hole NT23-016RC intersected 32m @ 0.81g/t Au from the surface; and Hole NT22- 007DD 80 m away intersected 12m @ 0.62g/t Au from the surface and 2m @ 8.7g/t Au, 40ppm Ag, 6.1% Zn, and 0.29% Cu from 32.6m.
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At Palm Hole NT22-006DD intersected 3m @ 9.2g/t Au, 0.51% Cu, and 49ppm Ag from 64m.
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High-grade Au gossans and quartz magnetite veining were recently discovered over an extensive area of the porphyry along the Boundary anomaly between Vangma and Sokdee tenements with grab sample results of up to 4.7g/t Au, 0.16% Cu and 8ppm Mo
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The Annamite team has generate an exploration target that they could stand behind over the 6km Sokdee porphyry Cu-Au-Mo trend in Laos.
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This feels very much like the early days of the subsequently world class discoveries on the 5km Cadia trend, the 4km Red Chris trend, and the 12km trend at Oyu Tolgoi.
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The limited drilling to date has intersected ore grade porphyry Cu-Au-Mo mineralisation, proving that the system has legs.
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The Sokdee trend has three known near surface porphyry centres with an overall exploration target of 900mt at 0.25-0.45% Cu and 0.25 g/t Au. Molybdenum accounts for roughly 10% of the overall metal value.
POTENTIAL FOR >1MOZ AU RESOURCE ALONG A >6KM GOLD/PORPHYRY BELT OF MINERALIZATION
The known oxide-sulfide gold targets at Spine, Palm, Boundary, Namthom West and the southern part of Mouk offer the shortest path to open-pit gold mining within the Sokdee Project, as well as near surface high grade Au-Cu-Ag-Zn mineralization at Spine and Palm.Results from inclined RC drilling in 2023 show that grade continuity exists at Spine and is emerging at Palm.Initial gold leach test results obtained in 2023 indicate 89% gold recovery from fine grinding and cyanidation. Annamite plans to start an initial Conceptual Study to assess the potential to mine the gold targets.
The work program for 2024 includes several fences of inclined, short DD holes at Spine and Palm, as well as some RC drill-testing of the oxide gold potential of Palm, Mouk, Namthom West and Boundary.The table below summarizes the drilling program necessary in 2024 to advance the gold targets.
The estimated cost for a 2024 drill programme of approximately 6,360m of DD and RC drilling plus additional rock and soil sampling is US$1.7 million.
The four year exploration and development budget 2024-27 is around US$28 million. It includes field work, land access, community development and initial studies for Sokdee, Vangma and Kham Houng.
2022 - 2023 PROJECT HIGLIGHTS
2022
Our first exploration campaign in 2022 consisted of soil geochemistry, drone magnetics on the southern part of the tenement and a scout drilling program in mid-2022 comprised of eight core holes, totalling 1978m.
SEPTEMBER 2022
TO FEBRUARY 2023
The Annamite team has conducted low-cost ground operations during the tail end of the monsoon and the beginning of the dry season. Infill soil sampling and an induced polarization (IP) survey consisting of six lines to better understand the changeability of the potential deposits, was also undertaken at Namthom prospect.
JANUARY 2023
From January 2023, the final round of infill soil sampling was completed on the exciting Mouk target, with multi-element analytical results showing significant potential.
SIGNIFICANT RESULTS
The best drill results so far are from hole NT_22_003, with 60m @ 0.22g/t Au, 0.4% Cu and 88ppm Mo in the porphyry and from two new, separate discoveries of Au (8 to 11g/t), Ag and base metals in potential economic zones.
DRONE MAGNETIC GEOPHYSICS
The number of sensors at different angles creates thousands of accurate data points, including geo-references, elevation points and colours.
FEBRUARY 2023
An additional drone magnetics survey to the north of the previous survey in the Hinherb block, to cover Mouk and Mouk West targets was completed.
MARCH 2023
Trenching on the best peripheral anomalies around Namthom/Grassy has started in March 2023 ahead of any drilling.
TRENCHING
IN NAMTHOM/ GRASSY
Trenching requires an excavator to dig a meter-wide trench about 2 meters deep.
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Trenches will be fenced for safety reasons and ultimately backfilled.
APRIL 2023
2023 PROGRAM
The second drilling will commence.
Our 2023 drilling program includes multiple short RC holes along strike into the peripheral targets at Spine and Palm targets, a few deep DD holes into the Namthom porphyry, and drill testing of new soil geochemical targets at Mouk and Mouk West.
If required an additional geophysical IP survey will be conducted. Upon completion of drilling, we plan to calculate in-house resource estimates.
Cu-Au-Mo
Based on the results of current exploration program, there are clear indications of the discovery of a significant Cu-Au-Mo porphyry system with adjacent related mineralization.
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We believe though that our Sokdee project is a standout in the crowded field of early-stage projects in that we already have economic intersections from three different styles of mineralization, including a porphyry.
CROSS SECTION SUMMARIZING
The real merit of our project is boosted by the scale of the system within a vastly underexplored but productive belt. The first results indicate that in addition to the Cu-Au-Mo Namthom porphyry, the Mouk target is a new, untested soil Au-Ag-Zn-Cu-Mo anomaly, 1600m in length and broadly along strike of the Namthom porphyry system.
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To date, the overall system is six kilometres in length, with the Namthom porphyry but one point along that strike. Based on geochemical halo modelling, we have reason to believe that there are likely two additional blind porphyries along that extent as well as additional structurally related styles of mineralization.
LOCATION AND INFRASTRUCTURE
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Loie mineral belt developed during the Permo-Triassic epoch [250Ma]
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Comprises intermediate-felsic volcanics intruded by dioritic porphyries
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Sokdee concession is 50 km2, located 100 km NNW of Vientiane and 30km west of a new high-speed railway line and highway. Hydroelectric powerlines also located 30km away
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Rural location, low-density farming and rubber plantations. The nearest village of Namthom lies 6km from the prospect