Kibara (Mrangi South) - 25,550 Acres
Acquisition
Tanzania Minerals Corporation has acquired Kibara (Mrangi South) 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 Kibara (Mrangi South) and Katario (Mrangi East) 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.
Property Description
- The HQ-P18125 license is located in Musoma District, Mara Region
- Kibara (Mrangi South) is at exploration stage covering a total area of approximately 103 km˛.
- The property is located in northern Tanzania within the Musoma Greenstone Belt, towards the western end of a large peninsula extending into Lake Victoria from its eastern shore.
- Initial work done by TZM shows existance of structural control that played a major role in localization of gold mineralization. e.g. small-scale workings/pits are located along NW-SE trending shear zones. Exposed are the fractured granitoid and quartz-vein materials with disseminations of pyrite.
- The NW-SE shear zone define the trend of gold occurrences. Also the pits are located near or at the intersection lineation of E-W, NW-SE and NE-SW shear/fault zones.
Future Plans
Exploration program is currently in the development stage.
