Almost half of South Sudan is composed of Precambrian rocks with potential for gold, a total area 30% bigger than the whole of Ghana. Equator believes that these rocks have a high probability of containing giant gold deposits similar to the Kibale Mine, 250km southwest of the Luri licence in the Moto goldfield of DRC. Next to no formal exploration has ever been carried out in South Sudan, because of the civil wars since 1956. Equator currently holds interests in three licences
The Luri Gold Project, Equator’s first asset in South Sudan, is highly prospective and located conveniently close to the capital city of Juba. Equator’s exploration to date has been extremely successful and we have already identified three very promising gold targets. We believe that there is a good probability that the Luri licence contains several significant, multi-million ounce gold resources. The Group has earned 65% beneficial interest in the Luri project and can earn up to 85% under an agreement with South Sudanese company Consolidated Mineral & Energy Resources Investment Co Ltd. (CMERIC). We intend to advance the project from early stage exploration to resource evaluation as quickly as possible.
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The company also has a 75% earn-in right over the Wudabi Project, an area of extensive artisanal gold panning 100km southwest of Luri. Remote sensing and geological work by Equator at Wudabi has revealed a greenstone-like rock sequence. Efforts are currently underway to evaluate an alluvial gold operation to generate early revenue.
Equator holds a 49% equity holding in the Katokeji Project, an extension of the Luri geological structure with areas of significant artisanal gold panning. Katokeji also contains significant deposits of carbonate rocks, which could be developed for agricultural lime, an important soil conditioner. This has led Equator to become involved in a potential farming venture.