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Tanga Resources Ltd.
Summary
| Project: | Geita | |
|---|---|---|
| Deposit: | Mimbili | |
| Location: | Tanzania | |
| Commodities: | Gold | |
| Date: | 11/15/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 15-11-2016: Tanga Resources Ltd. announces an Exploration/Drilling Update report for its Mimbili deposit at the Geita project. Drilling results incl. 4m @ 10.35g/t Au from 33m. Tanga Resources Ltd (“Tanga”) is pleased to announce high grade gold assay res | |
| Resources: | x | |
| CP/QP: | [Overall Report]: John Stockley (Internal) | |
| ABSTRACT: | Tanga Resources Ltd (“Tanga”) is pleased to announce high grade gold assay results within wide zones of gold mineralisation from an eight hole RC program (see ASX 25/10/2016) at Mimbili within the Geita Project (See Figure 1). The drill program was designed to follow up strong magmatic features with coincident soil and rock chip anomalies discovered by Simba Minerals Limited in 2013 (Simba Minerals merged with Tanga on 31/12/2013). The Mimbili tenements (see Figure 4) are within the Bulyhanhulu Gold Field which is large by world standards (~17M g/t Au). The Company regards the Mimbili ground as a prime target for large gold deposits hosted in Archaean greenstone, felsic schist, and magnetite Banded Iron Formation (“BIF”). Tanga Chairman, Mr John Jones said: “This is a promising result from our first program at Mimbili and we intend to commence a further 1,800m RC program this week. The success adds another project to compliment the Winston prospect at Singida.” The first Reverse Circulation (RC) drilling program at Mimbili carried out by the Company has shown very encouraging gold results from six of the eight RC holes drilled across 350m of strike on PL 8293/2016 (See Figures 2 & 3): Mineralisation is hosted by oxidised, quartz veined, gossanous BIF in contact with felsic schist, and is open at depth and along strike to the northwest and southeast. Wide widths of low grade mineralisation occur in saprolite and oxide BIF at shallow depths across ~350m of strike. | |
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