MINERAL TECHNICAL COOPERATION AGREEMENT
The Saharawi Arab Democratic Republic (SADR) has signed exclusive mineral resource reconnaissance Technical Cooperation Agreement (TCA) with Excalibur Exploration Limited. Under the terms of the TCA Excalibur have committed to a 4 year work program to provide a technical appraisal of the mineral resource potential of the SADR. The work program is split into two phases each of 24 months.
- Conduct a full technical overview of the mineral potential of the onshore SADR, to include adjacent activity in neighbouring countries, from all available data sources
- Acquisition and analysis of regional satellite data and preparation of a digital database
- Field reconnaissance visits and reports with appropriate analysis of samples collected
- Completion of integrated assessment (satellite mapping tied to field observations and sampling)
- Preparation of hydrogeological maps of the Liberated Territories utilising satellite imagery and any available legacy geological data
- Collation of all water-well data (including well location, flow rate, and if practical, analysis of water produced)
- Site investigation of existing water-well and natural water sources
- Report detailing key factors currently limiting water production and recommendation of forward programme
- Assistance with planning water-well drilling programme
- Detailed analysis of all available satellite and photographic/remote sensing data over areas of interest highlighted in Phase One
- Detailed ground reconnaissance of areas of interest
- Field mapping, geophysical surveying and detailed sampling of areas of interest (as appropriate), and mineralogical/geochemical analysis of samples as required
- Completion of the agreement will earn Excalibur certain mineral prospecting rights within the SADR as detailed in the agreement.
27 March 2007