Discovery of new ore bodies is an important element in SATIS’ business strategy. The main objective of SATIS’ exploration team is to make significant, high-value diamond discoveries in new and existing regions.
We continually seek out new diamond deposits, investigate the other limits of our existing mines and analyse former mines to see if new technologies can economically recover additional diamonds. Our current activities include:
Total exploration expenditure for the SATIS group of companies was US$5 million in FY12 and can be broken up into greenfield and brownfield. SATIS’ exploration strategy is to target key prospective geological terrances to create value through the discovery of large long-life diamond concessions.
SATIS maintains a balanced approach to exploration:
Organic growth and geographical diversification are fundamental to the company’s strategy and this is reflected in the board’s commitment to exploration. SATIS aims to develop a quality pipeline of projects across all stages of the exploration process (i.e. project generation, advanced projects, resource definition and projects moving into pre-feasibility) to sustain resource growth. Safety, maximising in-ground expenditure, and conviction to drill test high-priority targets are key operational strengths.
SATIS’ approach to accessing quality projects is flexible and can include JV partnerships, acquisition and other arrangements. New growth projects are subject to rigorous application of filter criteria based on project- and region-related risk and ability to meet minimum requirements on potential size, production profile and investment targets.
SATIS has a strong focus on Sierra Leone, targeting vast diamond deposits, although other precious minerals deposits are also highly ranked.
SATIS is currently evaluating nine major prospects with significant diamonds endowments in Angola.
SATIS has successfully secured interests in a number of emerging explorations prospects through joint venture.