OTCBB Symbol: EGDD
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Sheba Hills Area
The area comprises approximately 4,000 hectares (approximately 10,000 acres). The Company has planned an extensive exploration program over the next three years involving geochemical and, possibly, geophysical exploration techniques to be followed up by on site trenching, drilling and sampling. The program will be based on the above-mentioned three major geological structures with a view to identifying significant ore bodies.
Within the Sheba Hills area, there are two projects that provide immediate prospecting targets for detailed surface investigations as part of EGI's planned regional exploration program. They are -
- Sheba Fault Extension Project
- Lily West Project
This area is owned by the company’s subsidiary, EGE, and contains a large, prospective block of ground located to the west of the Lily mine. This property covers three major geological structures, namely the Lily Fault, the Bonanza Fault and the Sheba Fault, all of which are associated with gold mineralization. While this area has not been explored in the past 25 years, the combination of its favourable geology and the application of modern prospecting techniques makes the area worthy of exploration.
