Explorer unearths ’big’ gold prospect in Tanzania THISDAY...

Explorer unearths ’big’ gold prospect in Tanzania






THISDAY REPORTER
Dar es Salaam

Australian gold explorer Sub-Sahara Resources has completed its resource estimate of its Tusker gold deposit in Tanzania and announced a total estimated resource of 123.27 million tons at a grade of 1.15g/t for 4.54 million ounces.

An independent Jorc-compliant report indicated resources of 89.56 million tons at 1.20 g/t for 3.46 million ounces, as well as inferred resources of 33.71 million tons at 1 g/t for 1.08 million ounces.

The gold deposit forms part of the Nyanzaga joint venture with Barrick East Africa, a subsidiary of Barrick Gold. Sub-Sahara holds a 44.59 per cent stake in the project and will hold a 27 per cent contributing interest on completion of a bankable feasibility study.

Sub-Sahara chief executive officer Michael Griffiths said the company had been exploring in Tanzania for the last 10 years and that the results had reaffirmed its belief that Tanzania had the potential to yield ’’significant mineral resources’’.

’’Nyanzaga has proved to be a big mineralised system and we believe that further resources will be discovered to add to the current Tusker resource.’’