EBDAA GOLD MINES
(“EBDAA” or “The Company”)
(“Nautilus” or “The Operation Company”)
(“EMRA”) officially delivered the Exploration permit (“License”) to EBDAA with the cooperation of Nautilus the operation company after completing all required paper work. The Exploration permit (License) is located in the Eastern Desert of Egypt. to the Company.
The license was awarded to the (“The Company”) as a part of the competitive international exploration license bid round which commenced in 2020.
The operation company is also delighted to announces the beginning of the Surface Exploration Activities in the (“License”) of (“The Company”).
The (“License”) is covering 105 km2 and located in the Eastern Desert of Egypt was awarded to the (“The Company”) as part of the competitive international exploration license bid round for exploration of Gold and associated minerals at defined sectors in Egyptian Eastern Desert which commenced in 2020, in accordance with Law 198-2014 and its amendment 145-2019 (“The Law”) and its executive regulations issued by Prime Minister Decree No. 108-2020. The bid round was administrated by (“EMRA”).
License: Regional Geological Setting
The (“License”) is located in the Egyptian Eastern Desert within the Arabian Nubian Shield (“ANS”). The Egyptian Eastern Desert represents the north-western part of the Arabian Nubian Shield which lies within the suture between East and West Gondwana at the northern end of the Neoproterozoic East African Orogeny. Late Neoproterozoic mineralization within the (“ED”) is dominated by gold along with Ta, Nb, W, rare earth elements (REE), U, and Sn are present. Generally, the ANS consider being one of the ancient locations of earliest geological efforts to extract the gold from Egypt and NE of Sudan. The northern part of (“ANS”) exposed on Sahara Desert and Arabian Desert, while the southern part exposed in Ethiopia highlands, Asir province and Yemen highlands.
Project Overview: OLYMP Gold Project
The (“License”) OLYMP Gold Project (formerly known as Gebel Al-Shahimiah) covering a total area of 105 km2. The project is located approximately 90km southwest of Qusseir Red-Sea town, and approximately 700km southeast of the Egyptian capital “Cairo”.
The (“License”) can be gained from Qusseir city via the west bound sealed Qusseir-Qena road (90 km) or Qena-Qusseir road (70 km). Paved or gravel roads from the asphaltic road specially from the Northern side of the concession provide direct access to the border of the concession.
OLYMP Gold Project is considered to be a green field, however there are heavy artisanal mining activities along the eastern part of the concession as it is believed to be containing El-Sid and El-Fawakhir historical gold mines extensions as well as (“VMS”) deposits.
About EBDAA GOLD MINES (EGM)-(“The Company”)
The company is an Egyptian Junior mineral exploration company focused on the acquisition, exploration and definition of precious metal resource properties. The company was established in 2019, its Primary Assets is the Olymp Exploration Gold Project which located in the one of the best locations for the Exploration and production of Gold which is the Egyptian Eastern Desert.
About Nautilus for Mining & Petroleum Consulting (NMPC) – (“The Operation company”)
The operation company is an independent consultancy providing focused solutions to clients mainly in Mining, Quarries industries. Delivering high quality, professional and innovative services.
Glossary of Terms
The following is a glossary of technical terms:
(“EMRA”) Egyptian Mineral Resources Authority
(“ANS”) means Arabian-Nubian Shield
(“ED”) means Eastern Desert
(“VMS”) means Volcanogenic Massive Sulphide
(“Gondwana”) means supercontinent that existed from the Neoproterozoic (about 550 million years ago)
(“Neoproterozoic”) means the unit of geologic time from 1 billion to 541 million years ago.
(“East African Orogeny”) means the main stage in the Neoproterozoic assembly of East and West Gondwana along the Mozambique belt.