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Annamite Resources

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  • Didier Fohlen Recognized Among Top 10 Promising Business Leaders in Laos (18 Oct 23)

    Annamite Resources’ CEO Didier Fohlen, has been recognized by Asia Business Outlook as one of the Top 10 Most Promising Business Leaders from Laos this year.

    Didier’s relentless dedication, innovative thinking, and commitment to sustainable business practices have driven Annamite Resources to new heights. MORE

  • Annamite Resources working with Rio Tinto in "underexplored" Laos (17 Oct 23)

    Annamite Resources CEO Didier Fohlen speaks to Thomas Warner from Proactive London about the work the junior explorer has been doing in Laos since being founded in 2019 Fohlen explains the reason for the focus on Laos, describing it as significantly under-explored, with only 10% of the country having been “properly assessed” by major players like Newmont and Oxiana. LINK

  • Video Update - Drilling Progress at Sokdee (20 Sep 23)

    Paul Burrell, Annamite Resources Chief Geologist, provides a video update on drilling progress – LINK

  • Annamite Joins Forces with Rio Tinto in Laos (10 Jul 23)

    Annamite Resources is pleased to announce that it has signed an agreement with Rio Tinto to partner in exploring the Sokdee project in the Lao People’s Democratic Republic.  MORE

  • Video Update (Q3 2022)

    Join CEO Didier Fohlen for an update on the progress Annamite Resources has been making in Laos. MORE

  • Asgard Metals Fund - Investment in Annamite Resources (3 May 22)

    Ariana Resources plc (“Ariana” or the “Company”), an AIM-listed mineral exploration and development company with gold mining interests in Europe, is pleased to announce the third investment of the Asgard Metals Fund (“the Fund” and a wholly-owned subsidiary of Ariana), which is being developed as part of its proprietary Project Catalyst Strategy. LINK . Ariana Resources is also a member of the NR Private Market Investor Lounge – profile link.

Technical Background

Annamite has maintained a continuous presence in Laos since the company’s inception four years ago, where it has continued to leverage its local knowledge, expertise and network.  The excellent exploration potential of Laos, commodity price forecasts and availability of capital with the Rio Tinto agreement are now all favorable for Annamite to confirm the  significant discovery of the Sokdee porphyry system.

LHBS Sokdee Project

Annamite Resources now owns 70% of Lao Hyundae Black Stone Co., Ltd (LHBS), which holds an Investment Exploration and Feasibility Licenses, of LHBS over a total area of 79 square kilometres in two tenement blocks.

The Namthom porphyry prospect, situated in the southern part of the eastern tenement block, is a significant copper and gold system, historically tested by several drill holes in 2013 and 2014.

Rapid application of technical know-how by Annamite has propels Namthom and Mouk, the most advanced of all the prospects through scout drilling in 2023 at Namthom and now in 2023 at Mouk and potentially to resource definition.

2023 Exploration Plan for Sokdee

Based on the results of the March 2022 to July 2023 exploration program, there are clear indications of the discovery of significant Cu-Au-Mo porphyry systems with adjacent related peripheral mineralization in the Sokdee Project.

  • The first scout drilling program to the end of July 2022 comprised eight holes totalling 1978m. A drone magnetic survey was also conducted, and 549 soil samples were collected in Namthom. Analytical results were received, with interpretation completed.
  • The best drill results are hole NT_22_003 with 60m @ 0.22g/t Au, 0.4% Cu and 88ppm Mo in the porphyry and from two new separate discoveries of Au, Ag and base metals with potential economic intersections.
    • Hole NT-22-006 at Palm intersected 3m @ 9.2g/t Au, 0.51% Cu and 49ppm Ag from 64m.
    • Hole NT-22- 007 at Spine intersected 2m @ 8.7g/t Au, 40ppm Ag, 6.1% Zn and 0.29% Cu from 32.6m.
  • Fieldwork on the Sokdee Project has continued since August until now, with Annamite geologists safely completing surface geochemical and ground geological surveys, including detailed mapping. Some 548 soil samples were collected on the exciting Mouk and Mouk West targets in the Hinherb block, with full analytical results awaited. A last batch of 200 soil samples are being collected.
  • An induced polarization (IP) survey was undertaken in October 2022 consisting of six lines at Namthom prospect. An additional drone magnetics to the north of the previous survey in the Hinherb block took place in January 2023, confirming the Mouk geochemistry data. n induced polarization survey took at Mouk in May-June 2023, after trenching and 600m RC drilling in March-April 2023 on main peripheral mineralization anomalies around Namthom.

Annamite team is operator of the initial exploration programme, designed jointly by ARH and Rio Tinto. Core diamond drilling (DD) is ongoing with about 1,500 to 1,800m planned at Mouk and Namthom during next 2-3 months.
To date, this system is six kilometres in length, with the porphyry but one point along that strike. Based on geochemical halo modelling, we have reason to believe that there are likely two additional blind porphyries along that extent as well as additional structurally related styles of mineralization.

The Namthom porphyry prospect, situated in the southern part of the eastern tenement block, is a significant copper and gold system, historically tested by several drill holes in 2013 and 2014.  However, only one hole actually intersected the mineralized part of the porphyry system.  Soil sampling by Annamite has outlined a 2.5 km by 1 km Cu-Au-Mo soil anomaly.  Our summary re-logging  of historical core has unequivocally identified a mineralized porphyry.

Rapid application of technical know-how is likely to propel Namthom, the most advanced of all the prospects held by Annamite, through scout drilling and potentially to resource definition.  The data from our technical due diligence completed in late 2020, and infill soil sampling and geological mapping in March-April 2022 provides further evidence to support our view that Namthom is a significant gold and copper prospect.  The porphyry geometry has yet to be determined through drilling, but we already have exciting indications of a robust system.

2022 Exploration Plan for Namthom

Since conducting due diligence reconnaissance mapping, quartering and analysing drill core, and collecting widely-spaced soil geochemical data, the Namthom porphyry has been modelled using all available information.  Recent exploration of this exciting prospect has included the completion and analysis of 80 infill soil samples within and around the well-defined, coincident Cu-Au-Mo anomalies associated with the porphyry, followed by an additional 84 regional soil samples collected over the remainder of the eastern tenement block (almost complete).  Additional geological mapping has continued, to be followed in April-June 2022 by initial drilling within the main soil anomaly.

Company Background

  • Annamite Resources Holdings Ltd. (ARH) is a precious and base metals mineral exploration company incorporated in Singapore (# 201915983C) with operations in Laos.
  • Aspermont Limited‘s Mining Journal Annual Risk Assessment 2020 reports that Laos has improved its Investment Risk Index (IRI) by 20% over the last four years, by far the largest increase globally in that period. It now places in the middle of world mining jurisdictions and is the least risky country in SE Asia.
  • A new local Lao subsidiary Annamite Resources Laos Co., Ltd (# 01-00024196) was established in July 2020.
  • By modern exploration standards, Laos is an underexplored but highly prospective country for the precious and base metal deposit types which Annamite is targeting:
    • less than 6% of Laos has been covered by modern prospecting or exploration methods;
    • the Truongson and Loei Fold Belts which are highly prospective for porphyry and related deposit types comprise 70% of the country.
  • Our strategy is to build a quality portfolio of near drill-ready to drill-ready exploration projects that can be quickly moved to the discovery stage with drilling, i.e. the Project Developer model.
  • Since our start-up was established in May 2019, we have screened over 25 targets, shortlisted more than a dozen including some drill-ready targets, and selected the top two below for immediate work.
  • We have already secured and signed 2 Joint Venture deals on two attractive projects: epithermal gold-silver (Sakai) & porphyry copper-gold (Sokdee).
  • The company aims to list on the Australian ASX, Toronto TSX-V or London AIM market in 2022.
  • Our team members under Lao-based expatriate Australian Chief Geologist, Paul Burrell, have already established exploration facilities in-country allowing us to operate cost-effectively without the overhead of importing equipment and people.
  • Despite acknowledged potential as exemplified by the producing Sepon and Ban Houayxai – Phu Kam mines, no significant discoveries have been made outside of known mineral districts during the past 15 years.
  • Annamite already has a broad base of shareholders from different parts of the world, including Laos and other SE Asia countries, who recognize the opportunity that Laos presents and wish to participate in both value creation as well as sustainable development in-country. We are now looking to broaden that base during a new round of financing.
Portfolio Growth
  • Our flagship project is the Sokdee Project, which includes the Cu-Au-Mo porphyry systems northwest of Vientiane. With appropriate exploration, Sokdee holds the potential for a large, low-medium grade deposit with district & regional upside.
  • Inside and around Sokdee, the district & regional upside potential includes additional porphyry centres in andesite & also skarn/carbonate replacement and VMS deposits in Carbo-Permian limestone in contact with younger intrusions.
  • With the consolidation of licenses and proper modern exploration, the Sakai area representants a significant gold and silver resource that can be moved quickly to mining. Tenement holders lack a comprehensive plan for rapidly developing any short-term resources that are discovered and for assessing the full resource potential of their license areas. Annamite can help move these projects to the next steps. Annamite is negotiating partnerships with the additional Sakai licensees to move these projects to the next steps.
Geology

Laos covers the junction between three large blocks of continental crust; the South China Terrane to the north, the Indochina Terrane to the south and the Shan-Thai Terrane to the west. These blocks are composed of metamorphic and intrusive rocks of Silurian to Precambrian age.

During Carboniferous to Permian time, shallow seas opened between the three continental blocks. Large volumes of limestone and related carbonate rocks were deposited in these seas. During early Permian time, the continental blocks moved together producing subduction zones with associated magmatic arcs. Numerous porphyry style mineralisation systems were generated in these magmatic arcs. Interaction between the porphyry systems and carbonate rocks produced many skarn style mineral deposits (Phu Kham Cu Au). Several examples of Michigan style (native copper) mineralisation have been identified in the Intermediate to mafic volcanics of these magmatic arcs, but this style has attracted very limited exploration effort.

A number of Mississippi Valley style lead-zinc deposits have been identified in the Permo-Carboniferous limestones. A few of these deposits have been exploited on a small scale for oxide zinc minerals, but the sulphide zones remain generally unexplored.

The continental blocks ultimately collided during Permian time, producing in the Truongson and Loei fold belts. Several orogenic quartz-gold vein style deposits known in Laos probably formed during this time. Previously formed deposits were deformed.

Several significant ultramafic complexes with Pt-Ni-Cr-Cu mineralisation occur along crustal scale structures in Laos. The age of these rocks is unknown, but radiometric dates from the Nan-Uttaradit ultramafic complex in Thailand suggest a Carboniferous age.

A second episode of extension during early Triassic time resulted in another episode of shallow marine carbonate sedimentation and acid magmatism. Interaction between these intrusives and the host rocks produced epithermal and porphyry mineralisation styles (Chatree low sulphidation vein Au and Sepon carlin style Au + manto style Cu). Several clusters of granitoid intrusions with associated tin and polymetallic mineralisation systems may also have intruded at this time.

From Jurassic to Cretaceous time, much of Laos was covered by a vast inland basin that filled with oxidised “redbed” style sediments. The basin has subsequently been dissected, but remnants contain several thick evaporite sequences including halite, gypsum and potassium rich salts that have been exploited for industrial uses. The lower parts of this sequence have also developed some “redbed style” sedimentary copper-silver deposits that have had very limited exploration.

Another episode of compression in the Truongson belt during Paleogene (Tertiary) time produced numerous thrust faults that complicate the geology and dismember some ore deposits.

Introduction to Lao People's Democratic Republic
  • The Lao People’s Democratic Republic (Lao PDR) is bordered by Burma and China to the northwest, Vietnam to the east, Cambodia to the south, and Thailand to the west.
  • Laos is ideally situated to market minerals to the rapidly developing economies the surrounding countries.
  • Laos has an abundance of hydroelectric power, a rapidly developing road network and a high-speed rail link to China under construction.
  • Laos has a population of approximately 7 million people. The majority are Buddhist and the people are renowned for a peaceful nature. As a result, Laos is one of the safest countries in Asia to operate and the government has been stable since independence in 1975.
  • Laos has a communist state system but has moved progressively toward a market economy. Development of the Sepon, Phu Kham and Ban Houayxai mines by Australian companies has demonstrated Government willingness to support foreign investment in the mining industry. These mines contribute a large portion of foreign revenue for Laos, but they are nearing the end of their reserves so the Government is strongly motivated to support new projects.
  • A complex political history before independence and a centrally planned economy between 1975 and 1982 shielded Laos from rapid advances in modern exploration. As a result, Laos is now one of the least explored countries in Asia despite having some of the most attractive geology. This adds up to an exploration opportunity.
Laos Mineral Development
  • In the past two decades, three world-class mineral deposits have been developed in Laos (Sepon copper-gold, Phu Kham copper-gold and Ban Houayxai gold-silver). Laos also includes part of the Loei fold belt that contains the 5Moz Chatree gold deposit. Despite this demonstrated mineral endowment, Laos remains one of the least explored countries in Asia.
  • The recent enactment of a new mining law has clarified uncertainty in the regulatory regime, but implementing regulations are still under development so the government has imposed a moratorium on the issuance of new exploration tenements. This focuses attention on existing tenements. Exploration on many of the existing tenements has stalled because the owners have either exhausted funds or have limited access to exploration skills.
  • The Annamite team has a great depth of experience working in Laos including the discovery of the Phu Kham orebody and financing of the Sepon mine. This experience allows us to identify exploration opportunities in Laos and deal effectively with local joint venture partners and government.

Board of Directors

  • Christopher Goss - Chairman

    Christopher, minerals financier & economist, ran business development for natural resources for the IFC (International Finance Corporation) out of London office from 2006-2010, IFC is private sector arm of the World Bank Group, and is a major private sector investor in mining in emerging markets. Earlier he led IFC mining transactions in Africa, Russia, Central Asia and Latin America. Prior, he advised African governments in natural resource policy and, negotiations in Ghana, Tanzania, Mozambique and Swaziland. From 2010—2017 he was on the board of and latterly Non-Executive Chairman of Triple Plate Junction, now Tethyan Resources, which was listed on AIM in London.

  • Didier Fohlen - Chief Executive Officer & Director

    Didier has an engineering degree from the School of Geology and Mines, Nancy, France. He has 38 years’ experience in natural resources, energy and geoscience including senior management positions in project finance, exploration, mine development, operations and closure/rehabilitation. and setting up junior explorers. This included 15 years in the World Bank Group/IFC mining group working in Europe, Africa, Middle East, Asia and Russia, three years with Areva Mines, managing new projects in Canada, Niger and Namibia as well as historical mines in the US and France. Over the last 7 years, he held various top positions in Lydian International, and was Founder then Executive Director of Tethyan Resources. Didier created SustainRisk 2 years ago and has worked for over a year in Laos assisting an investor to undertake an exploration programme various due diligence assignments in South America, Europe and Africa. He has about 5 years of working experience in Laos. LinkedIn

  • Alex Pyng - Chief Financial Officer

    A CPA from Australia and Chartered Accountant in Malaysia since 1998, Alex has over 28 years of professional experience gained from audit, banking, financial controlling and managing Finance Shared Services Centers across various industries. Before joining Annamite, Alex was the CFO of Voestalpine Specialty Metals Pte Ltd in Singapore, a subsidiary of Voestalpine Group (a leading global steel and technology Group from Austria) from 2015-2022, covering the Finance & Administration functions for the Asia Pacific and Middle East regions, plus overseeing the Global Oil and Gas business units located in North America/North Sea/APME. Prior to that, he was the CFO of Tri-Star Industries Pte Ltd in Singapore for more than 3 years from 2012. Besides Singapore, Mr Pyng had set up and/or managed companies spanning Malaysia, Thailand, Indonesia, Myanmar and China. Alex is currently based in Singapore at our corporate office.

  • Duangmala Phommavong - Independent Director

    Duangmala has over 25 years of experience in various businesses across Laos. She is also involved in various non-profit organizations in Laos that support local communities, and promote foreign investments in Laos. She is a managing director of three companies involved in tourism, culture, and hospitality. She worked for the Lao Young Entrepreneurs from 2005 to 2010, the French Chamber of Commerce in Laos from 2007- 2008 and the European Chamber of Commerce in Laos in 2010. Since March 2018, she is the Vice-President of the Vientiane Capital Chamber of Commerce and Industry 2020 and a Board Member of the Laos National Chamber of Commerce and Industry. She is also the head of the Sustainability Committee. Her extensive business experience in Laos, along with her business success is key to supporting Annamite’s development.

  • Khuanchai Siphakanlaya - Independent Director

    Khuanchai has a Masters in Civil Engineering from Bulgaria. He worked as a Hydropower Engineer with Electricité du Laos in 1993, followed by work as a consultant in the transport sector on construction and contracts management. He joined Montgomery Watson in 1995 as the Assistant Manager of their branch office in Vientiane, then established & became the principal owner of Lao Consulting Group Ltd. (LCG) in 2000. LCG is the leading Lao-owned and managed consulting company providing project implementation, engineering and design services across all sectors. Khuanchai has collaborated & JV’d with Tethyan Resources (then Aurasian Minerals) & with current projects in Laos with SustainRisk. He has wide-ranging experience of and access to the government political, policy and regulatory process in Laos.

  • Tan Choon Leng - Nominated Director

    Choon Leng is a highly regarded Corporate M&A and Private Wealth lawyer and leads JurisAsia’s Corporate Practice. With over 20 years of experience advising on complex, multi-jurisdiction M&A and corporate transactions in Southeast Asia, Choon Leng is a seasoned advisor to MNCs, Asian conglomerates, private equity funds and family offices. He is dual-qualified in Singapore and England & Wales and has been consistently recognized for his expertise in various legal publications including IFLR1000, Euromoney’s Asialaw Profiles and Legal Week’s Private Client Global Elite. Choon Leng has authored and edited numerous articles and legal publications in the area of M&A, corporate law and private wealth. He is currently a visiting lecturer at the Paris based Sorbonne-Assas International Law School where he lectures on international M&A. LinkedIn

  • Rael Lipson - Independent Director

    Dr Lipson is a consulting geologist & previously Chief Geologist for Gold Field Ltd Denver office, with +40 years of global exploration and mine experience. He combines “hands-on” fieldwork with desktop studies, for value-adding. He unlocks hidden resources by interpreting copious amounts of data, particularly where complex structural geology is involved. He is a believer in coaching and leading the next generation. Rael has assessed the geological potential of Au & Cu-Au deposits around the world, from greenfields to producing mines, for JV or acquisition opportunities. Early on he worked for Phelps Dodge in South Africa and the USA. Since leaving Gold Fields in 2013, Rael started a consulting company (RDLGEO Consulting, Inc.) and serves on the board of Mako Mining Corp. He is also a technical advisor to 2 other companies and teaches a graduate course on Exploration Targeting at Colorado School of Mines. LinkedIn

Management Team

  • Paul Burrell - Chief Geologist

    Paul is an Australian expat geologist with +30 years’ continuous experience in mineral exploration, project generation and management, in Australia, South America and Southeast Asia. His commodity experience includes PGMs, Au, base metals & industrial minerals. Paul is a Registered Professional Geoscientist (RPGeo) with the Australian Institute of Geoscientists and a Competent Person for precious & base metals in deposit types including porphyry/epithermal and sediment-hosted. He has worked in Laos since 2011, initially managing district exploration for MMG Limited at Sepon Mine then in 2017 establishing Savan Resources, a Lao-owned exploration consulting company. LinkedIn

  • Chanthaviphone (Chan) Mouanmany - Senior Manager Government and Investor Relations

    Chan holds Bachelor degrees in Business Administration, Finance & Banking and an MBA (Vientiane, with Australian curriculum).  She has 16 years broad experience on a variety of assignments related to financial and human resources management in the education, utilities (Electricite du Laos) and travel industry.  Chan has extensive knowledge in finance management, human capital strategy, human resources operations and cross-border personnel management and has worked in small and large companies as well as with Government agencies, supervising accounting and financial work in the private sector.  She has a proven track record in implementing corporate policies and developing leadership. Chan’s role is to oversee the financial function in Annamite as well as taking full charge of investor relations. LinkedIn

  • Khachonesin (Tic) Sithiphong - Business Development Executive

    Tic holds a Bachelor of Science in Technical Engineering and Computer Science (San Diego) and a Diploma of Business Management (Phoenix).  Since returning to Laos in 2006, he has worked in managerial roles in tourism, project development and management (including contracts for Phu Bia Mining) and most recently in tourism as a business owner.  Tic has excellent communication skills in Lao, Thai & English, with a proven record of exceeding corporate goals and maneuvering ahead of time constraints.  Key role is leveraging his extensive local network of contractors and tenement holders to bring high quality projects to the discussion table. Tic’s role is to develop a pipeline of quality projects for Annamite and support building relationships with Government officials.  LinkedIn