Oct 17 2012
Handeni Gold is pleased to announce the broadening of its exploration interests to include Lake Victoria, Archaean gold properties in its mineralization portfolio.
In line with the mission of the company to become a broad based gold exploration company active on gold mineralization in a variety of geological settings, the company is expanding its interests to include properties from the Lake Victoria Archaean granite-greenstone gold region in Tanzania. The Lake Victoria gold district contributes the majority of gold currently mined in Tanzania (the third largest gold producing country in Africa) and includes deposits such as African Barrick Gold's Bulyanhulu and Ashanti/Anglo's Geita gold mine in the Lake Victorian Archaean greenstone/granite terrane.
Handeni Gold has recently signed agreements with various parties active in the Lake Victoria region. These agreements secure the company's interest to conduct due diligence investigations on properties in various stages of development on the exploration curve.
In addition to the continued development of its prospects in the Handeni region, the Company will have a dedicated exploration team experienced in Lake Victoria granite-greenstone-gold mineralization to conduct its exploration program in the region.
"Gold in the earth's crust is distributed in distinctive mineralisation styles, each with specific characteristics in terms of the way to explore, mine and extract it. It is thus only logical for a gold company with long term interests to recognize and act upon this fact by ensuring a balanced gold exploration portfolio" said Dr. Reyno Scheepers, CEO of Handeni Gold, adding that "The company will continually seek to implement this approach".
Source: Handeni Gold Inc.