Gabon is a French speaking democratic country located on the equator in West-Central Africa. It has an area of nearly 270,000 square kilometers (100,000 sq mi) and has an estimated population of 1.5 million people, of which 800,000 live in the Capital city of Libreville. Gabon has the third highest GDP per capita in Africa, is the 2nd largest exporter of manganese in the world, and is the 5th largest producer of oil in Africa.
The Mitzic license lies 180km northeast of the capital city of Libreville and is accessed via a paved road directly to site and lies 60km to the north of a functioning railway. The Mitzic license is a very large land package of over 2,000 square kilometers in an area which is extremely prospective for iron ore and contains over 70 kilometers of magnetic highs. Preliminary work indicates the magnetic highs correspond to a coarse grained banded iron formation that has in places been locally enriched to greater than 65% Fe.
Gabon is extremely prospective for iron ore and has numerous deposits including "Belinga", thought to be one of the largest undeveloped iron ore deposits in Africa. Three deposits of over 650 million tonnes grading 60% Fe are currently under development in the region.
The Ndjole license lies 120km east of the capital city of Libreville and is accessed via a paved road directly to site and is located less than 25 kilometers from a functioning railway. The area is prospective for gold and manganese and the property has had US $5.7 million spent to date on exploration initiatives that have generated some exciting targets for future drill programs.
The work program completed on the Ndjole license includes 5,300 meters of diamond drilling, a 3,660 line kilometer airborne electro-magnetic survey, 1:20K geological mapping and basin analysis for the Ndjole area, and 20,000 soil samples which identified a very significant manganese soil anomaly >500ppm Mn over 50 square kilometers in area. Initial drilling at the very northern end of the manganese anomaly intersected thick, near surface manganese mineralization. The Ndjole license also has considerable gold potential. The work program to date has identified three large coherent gold anomalies up to 11 kilometers in length which were followed up with a first pass exploration drill program (see Ndjole License page for details).
About Manganese: Manganese is essential to iron and steel production by virtue of its sulfur-fixing, deoxidizing, and alloying properties. Steelmaking, including its iron making component, has accounted for most manganese demand, presently in the range of 85% to 90% of the total demand. Among a variety of other uses, manganese is a key component of low-cost stainless steel formulations.
The information set forth above constitutes forward-looking statements. See "Cautionary note regarding forward looking statements". We also advise U.S. investors that the terms used above to estimate our mineral reserves are not recognized by the U.S. Securities and Exchange Commission. See "Cautionary note to U.S. investors concerning estimates of Measured, Indicated and Inferred Resources." http://www.silverbullresources.com/s/disclaimer.asp