PROSPECTING LICENCE APPLICATION Tuesday, June 03, 2014 Year 2014 APPLICATION FOR PROSPECTING LICENCE OVER MARAU SOUND NICKELIFEROUS LATERITE, EAST GUADALCANAL, GUADALCANAL ISLAND, GUADALCANAL PROVINCE, SOLOMON ISLANDS MARAU SOUND PROSPECTING LICENCE APPLICATION
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APPLICATION FOR MINERAL RIGHT (Prospecting Licence) (S.20, Mines and Minerals Act 1990) Prospecting License Application for Marau Nickeliferous Laterites Guadalcanal Island, Solomon Islands
Table of Contents Page 1. Mineral Right Form(Form1).........................................................................4-6 2. Foreign Investment Board Approval........................................................7-10 3. Applicant........................................................................................................11 4. Experienced Management......................................................................11-14 5. Access Agreements.....................................................................................15 6. Environmental Management........................................................................16 7. Geological Potential of the Prospect Area............................................17-27 8. Proposed Programme by Solomon Mining................................................28 9. Proposed Budget (Minimum).....................................................................29 10. Description of The Prospect Tenement Area........................................30-31 11. Solomon Mining Business Plan.............................................................32-34
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1. The Mineral Right Form
SOLOMON ISLANDS GOVERNMENT
Application for a Mineral Right (Regulation 3, Mining Regulations 1996) i.e. RECONNAISSANCE PERMIT PROSPECTING LICENSE MINING LEASE SPECIAL SITE RIGHT To: THE DIRECTOR OF MINES BUILDING MATERIALS PERMIT HONIARA, SOLOMON ISLANDS ROAD ACCESS LICENSE (Delete as necessary)
1. Name/s of applicant Residence Signature/s Share/s Authorised or Registered and Seal (If a Issued Capital Office company)
Solomon Mining Ltd. P.O Box 2398 1000 Honiara
2. Name of accredited agent, if any Mrs. Vivianne Hulshoff 3. Address in Solomon Islands at which notices may be served P.O Box 2398 Honiara (MB:7689300 ) FORM 1
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4. Approximate area 116 square kilometre (sqkm 2 ) 5. Mineral/s to be prospected/mined or number of prospecting License/ Mining Lease in respect of which a Special Site Right or Road Access License is required (delete if necessary) All Minerals 6. Province Guadalcanal Province 7. Island Guadalcanal Island 8. Security of Compliance: Bankers guarantee None Cash Cheque 9. Purpose for which Special Site Right is required. Give full detail. (Applicable only in the case of application for a Special Site Right) Not applicable 10. Length of Term desired Three (3) Years Fees paid herewith Filling fee $ 2,000 Preparation fee $ 250 Compliance Deposit $ Reconnaissance Permit) Prospecting Licence) fee for years $
First years rent for: M.L) B.M.P) $ S.S.R) R.A.L)
$ 2,250
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I attached, signed by me-
a) In the case of Reconnaissance Permit/ Prospecting Licence a plan showing the approximate position of all roads, path, fences, dwellings, crops or other improvements within the boundaries, or within one hundred metres of the area applied for.
b) In the case of a Mining Lease/ Building Materials Permits/ Special Site Right / Roads Access Licence, a plan showing the area of surface with which it is desired to occupy and use for the purpose of mining.
Dated at this day of 20
Signature of Applicant or Agent
Received at hr. on day of 20
G.T.R No: Signature of Receiving Officer
(TO BE SUBMITTED IN DUPLICATE)
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2. Foreign Investment Board Approval
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3. Applicant Solomon Mining Limited is a 100% locally registered owned company based in Solomon Islands and its original or Mother Company is based in Hong Kong. Solomon Mining will provide the necessary funds for a three year exploration programme including surface exploration. To assist with the exploration programme, Solomon Mining will put in place a logistic base in Honiara, and will contract the services necessary to determine available prospects for large scale nickel mining developments. The activities which the company wishes to conduct are in the area of mining and quarrying. The company wishes to conduct explorations and mining of gold, silver, copper, nickel, cobalt and other minerals if available in this prospective area and other potential prospects of all provinces in the Solomon Islands.
4. Experienced Management The two company directors outline below have a proven record and extensive experience in the fields of business assessment and development, law, accounting, management, resource finance, and associated skills. This means management of Solomon Mining are experienced in mining, operating businesses and dealing with people in developing countries and accordingly have the rare ability to engage locals in an enduring and lasting manner. From time to time qualified and experienced trainers will be brought in to train up local personnel, and in all possible positions local personnel will be used. 1. Lee Chi Ming (Martin) a brief profile Mobile (Hong Kong): (+852) 90999025 Mobile (Solomon Islands): (+617) 7654127 Email: martin@worldlink-hk.com Professional Experience
1999 - Present Worldlink International Limited
Chairman
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Planned and directed all functions of the company - Enforced strong leadership skills to ensure efficient/effective utilization of corporate resources.
Established and integrated the functional strategies of the company utilizing business expertise to reach financial/operational goals and objectives.
Deployed resources to achieve financial forecast and business objectives.
Developed sales and marketing plans and programs for company sales personnel.
Analyzed market trends and statistics to determine potential of growth - monitored sales performance regularly.
2011 - Present Solomon Mining Limited
Chairman
A subsidiary of Worldlink International Limited.
Resource and infrastructure management.
Projects and operations in Laos, Myanmar, and other South East Asia countries.
Omex Resources Limited was purchased and taken over by Solomon Mining Limited.
Is now managed and run by Solomon Mining Limited
Skills / Hobbies
Fluent in English, Cantonese, and Mandarin languages
Proficient in Microsoft Windows, and OSX operation systems.
Experienced and knowledgeable in Microsoft Office, and other Internet applications.
Holds Hong Kong, Solomon Islands, and an International Drivers License.
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Enjoys doing volunteer work.
Long time donator and benefactor to many charities and non-profit organizations.
2. Robert Matthew Yuen a brief profile Mobile (Hong Kong): (+852) 53203928 Mobile (Ghinalr (+86) 15012948839 Mobife (Solomon lslands): (+677, 7677997 Email: rmy1979@yahoo.com
Experience
2012 -2013 Solomon Mining Limited Hong Kong SAR Deputy Director of Administration / Project Manager
Responsible for implementing and managing project changes and interventions to achieve project outputs
Facilitated the definition of project scopes, goals and deliverables
Managed project budgets
Planned and scheduled project timelines ' Present reports defining project progress, problems and solutions
2OO9 - 2012 Private tutoring
Teaching English (oraland written) to children and adults
Prepared students for SAT and Toeic exams
2OO4 - 2OO8 SRC Group LLC New Jersey President I General Manager
Responsible for acquiring and maintaining contact with clients
Liaising closely with factories to ensure proper production of products
Coordinating shipment schedules with factories and clients
In-country representative responsible for quality control
2004 - 2005 Worldlink International (HK) Co., LTD. Hong Kong SAR
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Coordinated shipment schedules between factories and clients
Quality control of products
Corresponded between factories and clients
2004 - 2005 Shenzhen Yuesi fashion Co. Shenzhen, China
Coordinated shipment schedules between factories and clients
Corresponded between factories and clients
Quality control of products
2001 - 2005 Hillsborough Outdoor Sports Center New Jersey Proprietor / General Manager
Communicated with wholesalers to schedule and ensure on-time merchandise deliveries
Customer service lead with responsibility for training and quality control
.Actively negotiated pricing, contracts and payments with wholesalers and distributors
Managed, trained, and motivated 12 employees
Planned and organized company events and promotions
Planned and participated in parent-teacher conferences
Initiated new and novel outdoor activities for children
1998 - 2001 United States Marine Corps Communications operator
Charged with installing and providing lines of secure communication
Expertise in satellite phone, radio, and ground to air communications
Education
Shenzhen University (international Students Department) Shenzhen
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Certificate of completion in intermediate Chinese
Middlesex College Edison, NJ Degree in Police Science & Psychology
Skills
Proficient in Microsoft Office, Windows, internet applications
Semi-fluent in spoken, reading, and writing of Chinese (Cantonese and Mandarin)
Working knowledge of Spanish and ltalian
United States, Hong Kong, and Solomon islands auto driver licenses
5. Access Agreements Solomon Mining Ltd has the verbal and intellectual capability in negotiating and maintaining land access agreements. The company intends to do prospecting and mining business ventures and services in Honiara and Solomon Islands at large and has a proven lasting record to establish and maintain relationships with the local people and Solomon Islands Government. When access agreements are established with the local customary landowners and the project communities, the company will continue to value the mutual and cordially relationship initiated as the pivotal phenomenon for land access to the prospecting area. Mr. Charles Meke with the assistance of short-term employed landowners will be heading the landowner negotiations.
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6. Environmental Management
Solomon Mining Limited is committed to responsible environmental management. Solomon Mining will achieve that outcome by:- Requiring all managers, supervisors, employees and contractors to proactively manage their work areas using sound environmental practices and procedures; Applying the principles of hazard identification, risk assessment and risk control; Regularly reviewing and setting environmental objectives and targets with the aim of continually improving its environmental performance, including prevention of pollution; Maintaining a thorough level of environmental awareness throughout its obligation by visible managerial leadership and by training and good two way communication; Consulting with its neighbours, local community groups, landowners and all levels of government; Managing its operations and activities to comply with applicable environmental laws, regulations, licences, and other commitments to which the company subscribes; and Openly reporting on its environmental performance. In the unlikely event of environmental incidents Solomon Mining undertakes to promptly cease any operation or work causing the incident and mitigate impacts by using best practice rehabilitation procedures.
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7. Geological Potential of the Prospect Area 7.1 Geological Setting
a) Regional Geological Setting
The Solomon Islands and New Guinea are part of a continental island arc system formed by the collision of the north moving Australia-India plate with the south-west moving Pacific Plate. Subduction of the Pacific Plate beneath the Australia-India Plate resulted in partial melting of the Pacific Plate and diapiric rise of magma domes into the Australia-India Plate. Initial subduction occurred in a south-westerly direction and this process may have been initiated as early as late Eocene time. A reversal of the subduction is thought to have occurred near the end of the Miocene when north- east directed subduction along the south west margin of the archipelago was initiated. The tectonic setting of the Solomon Islands is presented in Figure 7.1.1.
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Figure 7.1.1. Tectonic setting of the Solomon Islands with Makira Island Initial work to place the Solomon Islands Group into a regional tectonics framework was that by P. Coleman in the 1960s. Coleman came up with the concept of a Geological Province Model (Figure 3-4). 7.2 Geological Province Model Coleman initially divided the Solomon Islands block into 4 geological provinces known as (a) Central Geological Province; (b) Volcanic Geological Province; (c) Pacific Geological Province and (d) Atoll Geological Province. Marau Sound Nickel Prospect
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Figure 7.2.1 Geological Province Model of P. Coleman (1960) 7.2.1 Fractured Arc Concept Brian D. Hackman (1980) used the concept of a fractured arc involving rifting and block- faulting to explain the double en echelon chain nature of the islands in which Choiseul, Santa Isabel and Malaita occur on the northern chain while Bougainville, the New Georgia Group, Guadalcanal and San Christobal occur in the southern chain. Attempts to incorporate the fractured arc model into a geo-tectonic framework were taken up by others (Harris of Gualer Resources Limited, 1998) in the late 1990s. Their work mentions three major tectonic events involving subduction related events between the Australian and Pacific tectonic plates. According to this concept, the Solomon Islands is composed of two sub- parallel northwest-southeast trending volcanic island arcs situated on the Solomon Plate that form part of the circum-Pacific volcanic arc. The Solomon Plate lies between the subducting Pacific and Australia-India Plates. Both the Pacific and Australian plates subduct beneath the Solomon Plate. The subduction trench stretches from Vanuatu
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right through to eastern most Bougainville Island through to the Lihir Groups of Islands in the northeast of Papua New Guinea. The geological history and evolution of the Solomon Islands is ascribed to these three major tectonic events. First Tectonic Event The first tectonic event saw the emplacement of submarine oceanic crust extruded as alkali olivine basaltic lavas during the failure of a geanticlinal welt formed by converging and subducting Pacific and Australian Plates. A thick sequence of basic volcanics, limestone beds and dolerite sills of the Mbirao Group represents this emplaced oceanic crust. Second Tectonic Event A second phase of compressive tectonic event presumably metamorphosed the Mbirao oceanic basic volcanic and carbonate sequences and produced a series of ultrabasic and meta-gabbroic bodies in the Eocene to Oligocene times. This tectonic event is represented by ultrabasic emplacements in central and eastern Guadalcanal, San Cristobal, Santa Isabel and eastern Choiseul. Third Tectonic Event The third tectonic event is described as dominated by block faulting, as a consequence of extensional faulting due to rifting. This tectonic extensional event occurred during the late Oligocene to lower Miocene.
First Volcanism associated with the Third Tectonic Event
The resultant uplift from block-faulting led to the erosion of the metabasic rocks and triggered the extrusion of basaltic to andesitic calc-alkaline volcanism. The Suta Volcanics of Central Guadalcanal and the Umasani Volcanics of West Guadalcanal were extruded as part of this third tectonic event.
This period of volcanism produced the pile of basalts, basaltic andesites and associated pyroclastics and interbeds of limestone beds.
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The extrusive volcanism was then followed by the intrusion of high level igneous plutons of the Poha Diorite Complex in the Oligocene period. Similar volcanic and igneous activity was noted in Bougainville, Vanuatu and Fiji during the same period.
Sulphide mineralisation was associated with this period of basaltic-andesitic volcanism and emplacement of plutonic dioritic intrusions in the Oligocene to early Miocene times.
The deposition of various volcanic derived sediments occurred as a result of uplift and erosion of volcanic and plutonic igneous bodies.
A hiatus period
A hiatus occurred during the Miocene. This is represented by deposition of carbonate platforms in extensive fringing reefs, forming the Mboneghe Limestone. Overlying unconformably with the Mboneghe limestone are a sequences of tuffs, siltstones, agglomerates and tuffaceous arenites.
Second Volcanism during the Third Tectonic Event In the late Miocene, another volcanic event produced the Galled lavas, basalts, hornblende andesites and related tuff breccias deposited on West Guadalcanal. These lavas have been K-Ar dated at 6.39 Ma (Hackman, 1980).
High level micro-diorite to hornblende porphyry intrusions were emplaced during the Oligocene to Pleistocene. Rocks of similar composition also occur in the New Georgia Group. On West Guadalcanal, the Oligocene intrusions are overlain by the Lungga Beds.
The topmost Recent calcareous volcanic arenites and terrace forming reefs form the Honiara Beds of stratigraphic sequence on West Guadalcanal.
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7.3 Geological Terrain Model Recent work by the Geology Department in the Ministry of Mines in Solomon Islands in collaboration with the British Overseas Geological Institute and various overseas university researchers have further shed light on the regional tectonics geology of the Solomon Islands Group. Their work has further improved and somewhat refined the original Geological Province Model concept of Coleman into what they now refer to as Geological Terrains Model (Figure 3.1.3-1). The Geological Terrain Model concept was based on; (a) Lithological, geochemical, isotopic and geochronology differences or similarities of the basaltic basement complex comprising the major islands (b) The development (or lack of) of subsequent arc subduction. Based on the above parameters, the refined model proposes to group the large islands of Choiseul, Guadalcanal, Santa Isabel, San Christobal, Malaita and the New Georgia Group into differing Geological Terrains (figure 3.1.3-1) In the Geological Terrain Model Choiseul and Guadalcanal basaltic basement complexes show similarities with mid-ocean ridge basalts or a MORB type terrain occurring in an intra-oceanic environment. They are considered as forming within a MORB Type Terrain. Malaita, Santa Isabel (north of the Kaipito Thrust fault) and Ulawa show affinities of an oceanic plume type terrain related to the Ontong Java Plateau (OTJP). They are considered to have formed and part of the OJP Terrain. Makira (or San Christobal) show a hybrid terrain showing mixed features of a MORB- type and a Plume-type terrain. They are referred to as a Mixed Terrain. Arc related subduction episodes resulting from the coupling of the northwesterly moving Pacific Tectonic Plate with the northeasterly moving Australian Continental Tectonic Plate gave rise to alkaline and calc-alkaline volcanism within the Solomon Block. The volcanism with its associated plutonic intrusions accreted to the basaltic basements of the MORB-type terrain in the Eocene to the present.
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These episodes of arc related subduction were not evident in the Plume-type terrain of the OJPT basement hence Malaita, north Santa Isabel and Ulawa basaltic basements were unaffected by this arc related magmatism. Two episodes of arc related plate subductions occurred in the Eocene to the present within the Solomon Block. The Eocene to early Miocene related subduction occurs to the north of the Solomon Block along the Vitiaz trench system (figure 3.1.3-1) This earlier plate subduction phase gave rise to alkaline and calc-alkaline volcanism associated with the Suta and Gold Ridge Volcanics and their associated plutonic equivalents of the Koloula, Poha and Lungga Diorites on Guadalcanal and its Miocene age equivalent Mole formation on Choiseul as well as the volcanic basement of the Shortland Islands group, the Florida Group and south Santa Isabel. Choking and cessation of the Vitiaz trench system with its associated volcanism occurred as a result of the Ontong Java Plateau coupling and abutting onto the Solomon Block in the Miocene (figure 3.1.3-1) The above phenomena initiated a reversal in the direction of subduction. Subduction was now northwards directed and occurs to the south of the Solomon Block (Figure 3.1.3-1) Volcanism associated with this second subduction tectonic phase gave rise to the alkaline and calc-alkaline volcanism found within the New Georgia Group, Russell Island Group, Savo and West Guadalcanal.
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Figure 7.3.1 Geological Terrain Model, Mines Department & Others, 1998 The two periods of volcanism ascribed to the third phase of volcanism described in the fractured arc concept probably refers to the two periods of arc development associated with subduction along the Vitiaz Trench to the north of the Solomon Block (early subduction) and subduction along the New Britain-San Cristobal Trench (later subduction) associated with arc reversal as a consequence of the jamming of the Vitiaz Trench by the northwest moving thickened Ontong Java Plate as described in the Geological Terrain Model. 7.4 Local Geology The rugged southern part of the mainland is founded on a pile of Pre-Miocene augite-labradorite basalts, the Mbirao Volcanics, which probably exceeds 2,000m in thickness and dips do not conform to this pattern owning to the intensive faulting. Pillow lava is commonly developed, with a good deal of interstitial jasper and recrystalized pelagic biomicrite. Minor dolerite sills intrude the lava pile, particularly in the Kolovaghamela Valley. The mountains rise to over 800m near the southern boundary of the sheet. In an east-west belt to the north of the Mbirao Volcanics, and in subsidiary zone in the upper part of the Mandonu Valley, the basic rocks have been affected by a low-
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grade regional metamorphism, well-foliated rocks are developed, such as chlorite- actinolate Cretaceous age, outcrops on the northern side of the Mbirao Metabasics, and has also been subjected to low-grade metamporphism.
Geological map Marau The Tetekanji Limestones form to east-west belts of sheared recrystallised multicoloured limestone, nowhere exceeding 150m in thickness. The limestone belts can be mapped within both the Mbirao Volcanics and the Metabasics: faulting has often occurred preferentially along the line of their outcrop. The Marau Ultrabasics trend E.S.E. from the Mburumburu River through to Beagle Island. The predominant rock type is a serpentinized harburgite, with subsidiary dykes of pyroxenitic type. The ultrabasics are believed to have been emplaced during the Oligocene and thrust higher into the crust in the late Miocene. Small pockets of metagabbro appear to be slices of hornblende-albite-amphibolite which were upthrust with the metabasics. The boundary thrust palnes dip steeply north- west, parallel to the schistosity in the serpentinite and the adjacent metavolcanics. Recent alluvium fills the lowest sections of the Kolovaghamela and Mandonu Valleys, and coral fringes part of the northern coast and the islands of Marau Sound. The pattern of the Marau archipelago is due to Recent subsidence, the majors channels between the islands representing former drowned river valleys.
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7.5 Local geological structures The faults in the basement rocks trend N.E., W.N.W. and N.N.W. There is evidence for sinistral transcurrent movement along W.N.W. trending faults, also for dextral displacement of the ultrabasic outcrop along N.N.W. trending faults. Pliocene conglomerates and calcareous arenites overly the Guadalcanal Gabbro on the northern flank of the Marau Ultra-basics. These Longgu Beds are poorly exposed, but are approximately 200m thick, dipping at 10-20 to the north.
Figure 7.5.1 Geological Provinces in the Solomon Islands 7.6 Mineralisation Nickeliferous laterites have developed over the weathered serpentinized ultrabasics rock outcrops of the Marau Sound. The laterites are covered in part by fern and light scrub vegetation, and in part by a characteristic forest vegetation. Gently rounded hill crests, distinctive drainage patterns and a fine grained texture of the forest areas are clear indications of an ultrabasic country rock when viewed on aerial photos. The
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extent of the laterite areas which are not fern-covered may be estimated from the aerial photos by considering the gradient of the mountain slopes. Experience has shown that all the rounded ridges in ultrabasic country are capped with laterite and it is generally true that the broader the ridge the deeper the laterite on it. The Marau Sound ultrabasics outcrop as a ribbon up to a mile and eleven miles long. Physiographically they are comprise a single ridge with some southerly spurs, extending westwards from Savikau Village. A small laterite-covered ultrabasic outcrop also occurs on beagle Island. The northerly-flowing Mandonu and the Kau Kau rivers have cut valleys right through the east-west ultrabasic ridge. East of the Mandonu river the forest laterite-covered ridge crest is not more than 60 yards wide. The flanks are too steep for laterite development. Between the Mandonu River and the Kau Kau River the single ridge divides causing lower relief and there are some larger laterite patches with the laterite extending a short way down the ridge sides. To the west of the Kau Kau River forest laterite has developed along the broader parts of the ridge crest. On two of the southern spurs adjoining the main ridge is a fern-covered laterite, which thins downhill to bare rocky hillside.
Figure 7.6.1Bauksit laterite areas of the eastern Guadalcanl Island
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8. Proposed Programme by Solomon Mining The tenement is prospective for nickeliferous laterites which have been thought to be developed over the weathered serpentinized ultrabasics rocks. Inland of Marau Bay the laterites are covered in part by fern and light scrub vegetation, and in part by a characteristic forest vegetation. The programme over Marau will involve detailed infill mapping and sampling of all identified targets along with reconnaissance surveys throughout remainder of the tenement. Soil and rock chip sampling will be undertaken within the tenement along with pitting and augering and trenching. Anomalous areas will be further sampled in more detail along with areas of known mineralisation. Once an area of nickel mineralisation has been satisfactorily located, extensive hand auger sampling survey programmes are envisaged with the aim of better understanding the underlying styles of nickel mineralisation zones such as for occurrences of limonite and saprolite ores. Geophysics surveys and hand feed drilling programme are expected to be completed over this area following detail thorough mapping and sampling.
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9. Proposed Budget 3 years Three year indicative budget Marau ($SBD) Access Negotiations with community& community projects $2,200,000 Compensation for damaged sacred sites/ areas $200,000 Geologists/Management $2,000,000 Geophysics $1,000,000 Field Hands and Labour $1,200,000 Exploration and access roads $2,500,000 Assaying $1,200,000 Flights & Accommodation $1000,000 Helicopter support $1,000,000 Camp and field Management $500,000 Solomon Office Costs $1,000,000 Total $12,600,000
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10. Description of Marau Nickel Prospect Tenement Area MARAU NICKEL PROSPECTING LICENCE APPLICATION (GUADALCANAL PROVINCE) AREA DESCRIPTION The PL area applied for here is to be known as Marau Prospect and is locate on the island of Guadalcanal and Province of Guadalcanal. The description of this parcel of land, in UTM Coordinates is as follows: Marau PL Application, Eastern Guadalcanal Island, Guadalcanal Province The approximately rectangular shaped UTM boundary co-ordinates of Marau Prospect are as follows: UTM coordinates given are Mercator, Spheroid International, and Zone 57 Southern Hemisphere. The SW corner is the starting point (1) at UTM co-ordinate Total area is 116 square kilometres point x y 1 664,998.09 8,940,486.53 2 676,905.82 8,940,480.16 3 676,866.84 8,939,505.80 4 679,283.25 8,939,505.80 5 679,283.25 8,937,167.34 6 680,920.18 8,937,206.31 7 680,900.69 8,935,666.82 8 682,381.72 8,935,647.34 9 682,381.72 8,927,618.60 10 688,402.11 8,927,662.83 11 688,402.04 8,926,801.84 12 690,168.90 8,926,801.83 13 690,159.89 8,925,465.56 14 701,224.76 8,925,435.49 15 701,000.00 8,908,000.00 16 698,000.00 8,908,000.00 17 698,000.00 8,907,100.00 18 695,100.00 8,907,100.00 19 695,100.00 8,905,900.00 20 690,800.00 8,905,900.00 21 690,800.00 8,904,500.00
The location of the prospect area is as shown in Figure 10.1;
Topografi Consecion
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11. Business Plan Solomon Mining Limited 1.0 Introduction
Solomon Mining Ltd is a 100% locally owned company based in Solomon Islands and its original or Mother Company is based in Hong Kong. 2.0 Shareholders
The shareholders are as follows: Chi Ming Lee British 70% Robert Matthew Yuen USA 30%
3.0 Business Activities
The activities which the company wishes to conduct are in the area of mining and quarrying. The company wishes to conduct explorations and mining of gold, silver, copper, nickel and cobalt in all provinces in the Solomon Islands.
4.0 Management
The company is planning to employ locals in so far as possible and foreign nationals only as required with capability and respective qualifications on which locals that have broad background and experiences are eligible to be employed. The company will also conduct capacity building as their focal goal to rural advancement and development. 4.0 Capital Investment
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The company will invest as per the budget above in the mineral sector to get the operation under way. This will be used to operate the current running of the company and its prospecting activities. The provision of this fund will be provided by the shareholders as their equity share as well as income generated when operations begin. 5.0 Operational Plan
The operational plan of the company will be performed in respect to the laws of Solomon Island and in accordance to the Surface Access Rights signed with the landowners. The company will also assist landowners in their future endeavours as stipulated in the Surface Access Agreements. The landowners will sign the Surface Access and shall allow the company to do their respective operations and activities in accordance to the agreements that would be sign respectively. 6.0 Development Plan
The development plan is given on the table below which will be followed thoroughly and making sure that all procedures are relevantly followed; Item Department Ministry 1. Registration of company with Foreign Investment Board Foreign Investment Board Ministry of Commerce, Industries, Labour & Immigration 2. Incorporation of company Company House Ministry of Commerce, Industries, Labour & Immigration 3. Lodge of Mineral right application Mines Division/Minerals Board Ministry of Mines, Energy & Rural Electrification
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4. Letter of Intent Mines Division/Minerals Board Ministry of Mines, Energy & Rural Electrification 5. Prospecting Licence and surface access Mines Division/Minerals Board Ministry of Mines, Energy & Rural Electrification 6. Renewal of prospecting licence Mines Division/Minerals Board Ministry of Mines, Energy & Rural Electrification 7. Mining Lease Mines Division/Minerals Board Ministry of Mines, Energy & Rural Electrification 7.0 Marketing Process
Solomon Mining Ltd also has connections with nickel supplier/ buyer company based in Hong Kong. The market outlet will be exported to Hong Kong on current industry market price. The export plan will be done in accordance to the mines and minerals act and customs levy from the ministry of finance. 8.0 Conclusion
The company agrees to allocate shares to landowners if they do legally incorporate themselves. This would be achieved and could be negotiated in the mining lease period. The company will monitor the Land owners for this important under taking from time to time. They will adhere to what the landowners wish to achieve and it must be stipulated under a legal agreement with the company.