Partners form JV with Rio Tinto

Two Canadian juniors, Semafo (SMF-T) and Afcan Mining (AFK-M), have formed a joint venture with London-based Rio Tinto (RTP-N) to explore the Mont Kakoulima massive sulphide property in Guinea.

Semafo and Afcan each own a half-interest in the property; Rio Tinto has an option to acquire a 70% stake by advancing it to the feasibility stage.

The concession is situated over a sub-horizontally layered mafic-to-ultramafic intrusive complex consisting of the whole suite of rocks from dunite to gabbro.

For the past 12 months, Rio Tinto has been conducting geochemical and geophysical surveys to identify deeper targets of massive sulphides. To date, five important targets have been identified, and these will be verified by drilling before the rainy season in late June.