Zanzibar Gold Inc. announces that its consultants have started their exploration assessment of the Mkuvia Gold Property in the Nachengwea region of southern Tanzania.
Since 2005, the Mkuvia property has had small-scale local placer operators extracting gold from the property. In 2009, a 43-101 Compliant Reserve report was determined on the central part of the main gold producing region, that delineated an inferred reserve 6 million grams of gold.
The initial evaluation is to establish that the discovered reserve is intact and the purity of the gold being recovered. A field visit to the property and collection of the alluvial gold for analysis are being completed by the original author of the report.
This work will determine how much of a gold bullion inventory can be established for the company by a low-cost placer operation. As well as enabling the company to evaluate other gold prospects in the region.
S.A. Farrage, President, Zanzibar Gold Inc.
Tanzania has shifted from a trivial gold producing country in the last century to a 50 tonne per year manufacturer in the early part of the 21st century with Anglo Since Ashanti’s Geita Gold mine (7 million ounces produced since 2000 with reserves estimated at 7.7 million ounces) and Acacia’s (Barrick gold) Buylanhulu (initial reserves 17 million ounces) as the vanguard operations.
Source: Zanzibar Gold Inc