Blox, Inc., ("BLOX" or the "Company") is pleased to announce that the extension of its exploration license at the Mansounia Gold Project has been granted by the Ministry of Mines and Geology in Guinea, West Africa. The extension allows Blox, Inc. to move forward with additional exploration programs, based on targets identified within the Mansounia concession during former desktop studies. Granting of the Exploration License extension has enabled work on a project viability study to progress more rapidly and this is seen as a critical step along the path to an Exploitation License.
In late February 2017, the Board of Directors and management teams from Vancouver and Guinea met in Accra, Ghana, to further the process of advancing a project viability study for the Mansounia Gold Project. In addition, the Environmental Impact Assessment of the concession is in progress. Once completed, the results of these two studies will be presented to the Guinea Ministry of Mines and Geology and the Environmental Protection Agency in Guinea, with a view to advancing towards an Exploitation License.
The field program scheduled last year has now been completed with results pending. Crews were on the ground at Mansounia undertaking geological traverses and collecting soil and rock grab samples. Those samples have now been sent to the laboratory for analysis. No results were available as at the date of this release.
Mansounia is located in the Siguiri Basin in the Kankan region of Eastern Guinea. The Mansounia Gold Project has a Mineral Resource Estimate of 1.29Moz above a 0.4 g/t Au cut-off grade classified as Indicated and Inferred (reported by Runge Limited in accordance with the JORC guidelines and code for the Reporting or Mineral Resource Estimates, 2011). The total concession covers an area of 145km2 and is largely unexplored.
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The Company wishes to advise that, as at the date of this announcement, there are no material facts that have not been publicly disclosed.
Scientific and technical information in this press release has been reviewed and approved by Robert Spiers (MAIG), a "qualified person" under JORC 2012 and NI 43‐101.