The Company has 50 per cent ownership of a licence area covering 861 km2 in Georgia. Although significant historical exploration has been undertaken across the tenure, the Company has identified an opportunity to apply modern exploration techniques over a range of targets. Some of these were last explored up to 80 years ago or even mined as far back as the 1700’s. Previous exploration work means that 70 years of data has been amassed including information which has never been used to its full potential. Historic Soviet-led exploration was unable to follow up on obvious targets.
Kvemo Bolnisi East (“KBE”), an advanced copper-gold exploration project, is the company’s most developed project to date. The KBE project and the surrounding area have the potential to host several significant deposits. This would materially advance the potential scale of any mining operations in KBE. With access to our local partner’s processing facilities and infrastructure, both capital requirements and the timeframe to production are significantly reduced.
The wider licence area offers the potential for a pipeline of value-creative gold-copper resource development projects.
- Georgia is politically stable
- Relatively low-cost mining jurisdiction
- The Tethyan Belt is highly prospective
- Empire Metals is significantly undervalued versus its peers
- The 860km2 licence area is highly prospective and offers the potential for attractive large-scale copper-gold mineralisation
- First-mover advantage in this part of the Tethyan Belt
- The advanced projects have the potential to achieve near-term production
- A 30-year mining licence is already in place.
- GEO has a very experienced management team, with strong regional credentials, and focussed on delivery
Kvemo Bolnisi East
Greater Kvemo Bolnisi