Krezus, a holding company controlled by investor Roman Karkosik, is to start exploratory drilling for gold in Guinea.
The company has teamed up with the Warsaw-based PBG Geophysical Exploration Ltd. to start drilling in the region of Mandiana in the east of the African country.
Krezus holds two concessions for gold exploration in Guinea. The first is expected to hold between 4 and 7 metric tons of gold, while the second may hold up to 10 tons of the precious metal.
Initial exploratory activity is expected to finish in March. “Depending on the analysis from the drilling we will decide whether to go on to the second phase, which will last until the end of May,” Krezus CEO Paweł Konzal said.
Krezus is also undertaking preparations for exploratory drilling in the Boffa concession for bauxite. The concession holds an estimated 50-60 million tons of the aluminum ore.
From Warsaw Business Journal
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