Welcome to ASCOM Precious Metals Mining, S.A.E.,(APM)
ASCOM Precious Metals Mining S.A.E (APM) is a subsidiary of ASEC Company for Mining S.A.E (ASCOM). APM was established in 2009 in order to pursue specific mining opportunities of precious metals and base metals within the under explored mineral rich Eastern and North African region of the Arabian-Nubian Shield. APM’s asset base currently consists of 2 gold concessions in Ethiopia, 1 in the Southwest and 1 in the West, totalling more than 1,225km2, and a 3000km concession in North Sudan. APM has two country-based subsidiary companies, Ascom Mining Ethiopia (AME) in Ethiopia and NEBTA Precious Metals (NEBTA) in Sudan. All APM’s work is conducted through these fully-owned subsidiary companies in the respective countries of operation, and the key personnel in each are valued assets of APM.
APM’s main focus has become the Dish Mountain deposit in Western Ethiopia, where it is currently running a Preliminary Feasibility Study (PFS), to be closely followed by a Definitive Feasibility Study (DFS) if successful.
Dish Mountain lies on the North Sudan border in Benishangul Regional State, less than 9km north as the crow flies of Highway 5, the main road west out of Addis Ababa, Ethiopia’s capital. The largest regional centre is Asosa, some two hours drive east of the highway entrance point.
APM has completed in excess of 42,000m of drilling to date at Dish Mountain, with a JORC (2012) Code compliant Resource Estimate conducted by SRK in 2013 of 1.7M Oz at 1.5g/t (Measured, Indicated and Inferred) within an optimization shell at a gold price of $1500. Due to drill spacing at the time much of this resource lies within the Inferred category. The $1500 shell is some 1.5km x 0.5km, with many other prospects in the immediate vicinity.
APM has also conducted some 5000m of drilling at it’s Abetselo Au-Cu project on the Asosa concession, highlighting potential for a Cu-Au VMS deposit. Abetselo is also prospective for reef-style Au mineralisation similar to that seen at Dish Mountain.
Blue Nile (Sudan)
Contiguous to the Dish Mountain holdings in Ethiopia, APM also has a concession in the Blue Nile region of North Sudan, totalling 3,000km2. The company has completed a preliminary exploration program over the concession. The security situation in the area has led to the work being put on hold for a period since late 2011, but as this is returning to normal it is hoped that work will be able to resume on the lease in 2015
Work completed to date on the Blue Nile concession includes remote sensing and field surveys which produced several targets. These have been followed up with a soil geochemistry program conducted in the exploration year of 2011. The initial satellite remote sensing identified 30 significant alteration zone targets and the soils in these zones have been geochemically tested for gold and base metal anomalies, with some success. A comprehensive follow up rock chipping program has further increased confidence in the potential of the Blue Nile Concession.
APM has the 1000km2 “grass roots” concession at Alwero-Godere in the southwest of Ethiopia, an area with significant alluvial workings and several ASTER alteration targets that encourage exploration for primary gold deposits. Also within the Arabian-Nubian shield, the area has exciting prospectivity for the type and size of orebody APM is working up at Dish Mountain, several hundred km along strike.