Seventy Ninth Resources commences drilling at Lusso South

–News Direct–

Seventy Ninth Resources has commenced its drilling operation at Lusso South, located in the world-renowned Siguiri Basin in the Republic of Guinea. Specialist drilling contractor, Ore Search, will lead the extraction and materials transportation to and from the lab for testing.

The drilling programme, managed by SRK Exploration Services, will last over 12 weeks and will act as verification process for presence of mineral content in the area. The surrounding concessions at Lusso South, currently being excavated close to the likes of Anglo Gold Ashanti and Hummingbird Resources PLC, have been found to be some of the largest deposited areas in the world.

The project is being funded by Seventy Ninth Resources, the natural resources arm of the Seventy Ninth Group, the UK-based asset management firm specialising in the acquisition and redevelopment of undervalued assets across real estate and natural resources. The operation strategy will be overseen by leading international mining consultancy firm, SRK Exploration, as well as data management and exploration for the project.

Another key focus of the Seventy Ninth Resources was to not only maintain but expand and improve on local community engagement, which has been built over the years. As part of this next phase, a number of initiatives have been put in place to ensure this relationship is further strengthened, including:

Eric Ntube is in-country Manager for Seventy Ninth Resources. He will be supported by the Resources office in Conakry and a team of over 40 local employees who bring skills in mining, minerals and operations.

Eric Ntube comments, “After several months of preparation for our much-anticipated 2023 drilling campaign, the ultimate challenge of beginning actual field work is now behind us. It is rewarding to bring together expertise and knowledge from our extended and local teams with whom we are confident will lead to an efficient operation and successful drilling programme.”

David Webster, Chairman at the Seventy Ninth Group adds; “It has been an incredible journey for us as a business to get to this point. We set up the Resources side of the business in 2020 after eight years on the ground in the Republic of Guinea gaining hands-on experience in gold mining operations and building relationships with tribal elders in the communities surrounding the mines.

He adds, “To now be in the position that we are with backing from the likes of Ore Search and SRK, is a testament to the work that has been done by everyone involved, from the headquarters in the UK to the team on the ground in Guinea.”

“For this project moving forward, we are committed to implementing several initiatives on the ground, in and around the concession to further cement our presence in the area and build on our fantastic relationship with the people in the region. We believe this sends a message to our investor community that we are committed to progress this project and deliver results.”

For further information, visit www.the79thgroup.co.uk

The Seventy Ninth Group is an award-winning asset management company headquartered in the United Kingdom. Founded by serial entrepreneur David Webster and his two sons, Jake and Curtis Webster. The Seventy Ninth Group holds a unique and advantageous position in both the real estate and natural resource sectors, specialising in the acquisition, management and development of lucrative assets during times of economic turmoil and uncertainty. A family-owned business, the Seventy Ninth Group is chaired by David and his sons, Jake and Curtis, along with an experienced board of directors most of whom derive from a banking & compliance background. The Seventy Ninth Group is renowned for its strong family values of loyalty, honesty, and reliability, and is respected by their clients globally. Alongside the Seventy Ninth Group, the Webster family provides a series of niche offerings within the real estate industry, consisting of:

Seventy Ninth™ Resources

Seventy Ninth Resources, based in the Republic of Guinea, is the natural resources arm of the company with a series of natural resources concessions that include gold, bauxite, iron ore and diamonds. Seventy Ninth™

Private Equity Fund

A private equity fund domiciled and headquartered in Gibraltar, a British Overseas Territory. The PEF is authorised and regulated by the Gibraltar Financial Services Commission (GFSC). Seventy Ninth™ Global DMCC

Seventy Ninth Global DMCC is a private offering that is available to partners who have an understanding of, and interest in, the commodities world and who are seeking to grow their portfolios within the natural resources sector.

Contact Details

Liam Britnell

+44 7453 364820

liam@ambitiouspr.co.uk

Company Website

https://the79thgroup.co.uk/

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