Katario (Mrangi East) - 1272 Acres
Tanzania Minerals Corporation has acquired Katario (Mrangi East) which is in close proximity to the company's Mrangi Project located in Northern Tanzania in the Lake Victoria Goldfield. Exploration work in this concession is a natural extension of TZM's exploration activities in the area and allows the company to fully utilize it's existing technical staff and infrastructure.
TMZ has become sole and beneficial owner of 100% interest and title in Katario (Mrangi East) and Kibara (Mrangi South) from the Ministry of Mines of the Government of Tanzania. All fees have been paid to the Government of Tanzania.
"With the addition of these two properties in our target zone, this will allow Tanzania Minerals Corporation to focus and expand our exploration efforts. " said Kal Matharu, President and CEO of Tanzania Minerals.
- The HQ-P17812 license is located in Musoma District, Mara Region.
- The property is covering parts of Musoma-Mara Greenstone Belts underlain by intermediate-mafic volcanic rocks and banded iron formation (BIF).
- The property is at exploration stage and it is in close proximity to Katario Mine stated to be hosting gold deposit in excess of 300,000oz.
- Small-scale mines/workings on the license area.
- Initial work by TZM shows that the license area host viable mineralization potential and exploration work continues to increase its value.
- The property is located in favorable structural setting for large gold deposits in greenstone terrains.
- Regional magnetic data interpretation is completed and landsat image have been acquired and geophysical structural investigation is happening to determine main structural controls and identify new targets for drilling.
- Initial results show pervasive silica, carbanate and sulphide high values.
