other resources in SBS:Western Rift Joint Venture (Nickel, PGE,...

other resources in SBS:

Western Rift Joint Venture (Nickel, PGE, Gold & Uranium)

The Western Rift joint venture is situated in western Tanzania and covers approximately 12,000km of the highly prospective Tanganyika mobile belt that hosts a number of commodities and a number of growing projects including the world class Kabanga nickel discovery and the Mibango PGE discovery. Under the terms of the agreement, Sub-Sahara holds a 30% interest in the Joint Venture and can earn up to a 70% interest by completing a feasibility study.

Madaba - Mkuju Joint Venture (Uranium)

Sub-Sahara has a 15% contributing interest in the Madaba-Mkuju project situated 225km south-east of Dar es Salaam (Figure 2). The project area covers 9,689km2 and was explored by German uranium explorer, Uranerzbergbau GMBH (Uranerz) between 1978 and 1981. Uranerz discovered significant "Roll-front" style uranium mineralisation within the Karoo sandstones that form part of the Luwegu-Selous Basin.

Sub Sahara has entered into a Joint venture with unlisted Canadian company Tanganyika Uranium Corp. and a two-stage, success-contingent, work program is planned, consisting of data compilation, airborne geophysics, ground geophysics, geological mapping, pitting,
and drilling at a total estimated cost of CDN $2.7million over two years. Sub Sahara is expected to contribute CDN$105,000 during the first year and CDN$300,000 during the second year as part of its Joint Venture commitments.