Guilgal International · Investor opportunity
Pumba Copper Project
- US$500,000Indicative Phase 1 spend
- 20%Proposed project interest
- 11 holesProposed first phase
01 Reported copper assays
| Sample | Copper (Cu %) |
|---|---|
| PR01 | 3.8170 |
| PR02 | 0.6364 |
| PR03 | 0.2235 |
| PR04 | 0.1507 |
| PR05 | 1.4625 |
| PR06 | 1.6121 |
| PR07 | 1.5376 |
Source: 2024 GAC SARL results as transcribed in Guilgal project materials. Individual surface samples, with original certificate and locations within PR15201 to be verified. They do not establish drill grades, width or continuity.
02 Phase 1 use of funds
| Budget item | US$ |
|---|---|
| Diamond drilling (1,500 m at US$200/m) | 300,000 |
| Mobilisation, access and field logistics | 75,000 |
| Geology, logging, assays and reporting | 75,000 |
| Contingency | 50,000 |
| Total Phase 1 | 500,000 |
Planning allowances. Final rates and metres depend on the contractor quote and rig deployment model. The rig purchase and any licence acquisition payment are budgeted separately.
03 Drilling programme
Targeting. Integrate mapping, soil geochemistry and IP across three prospective zones. The Bowa IP report recommends targets on BW01-BW07 and BW09-BW10, with interpreted depths of 70-200 m. Reconcile these with the earlier nine-hole RC plan before locking the 11-hole diamond programme, collars and metres.
Execution. Guilgal has purchased an EP550 core rig from China and exchanged agreements with a South African drilling contractor. Target mobilisation is Q1 2027, subject to funding, rig delivery and readiness, access and permits. Log and sample core, run lab assays with QA/QC, and use the results to plan follow-up.
04 Project shares and options
An investor would earn 20% of Pumba through project vehicle shares upon funding and completing the agreed Phase 1 programme. A follow-on option could take the investor to 35–40% in total against an agreed second-stage work commitment. Any investor shares or warrants for Guilgal would be separately negotiated and subject to approvals.
05 Potential technical collaboration
Guilgal would welcome an introduction to a copper exploration team to review Pumba and explore technical collaboration or co-funding.
Guilgal International
Indicative and non-binding. Subject to completion of the PR15201 acquisition, title and technical due diligence, definitive agreements and applicable approvals.