Geita consists of ten 99.95% owned Prospecting Licences, covering 154km2 in largely Archaean BIF-greenstone terrain in North West Tanzania, at the southern end of Lake Victoria and only 20km along strike from African Barrick's massive 17Moz Bulyanhulu Gold Project. Other nearby signficant gold projects include Geita (12Moz), Buzwagi (4.4Moz), Tulawaka (0.7Moz), Golden Pride (0.7Moz) and Golden Ridge (0.7Moz). Total gold endowment of the Lake Victoria Goldfields is in excess of 70Moz.
WIthin the Geita Project, over 10,000m of drilling at the Mabale Hills Prospect by TSX Listed Currie Rose Resources Inc. between 2004-2012 identified a number of significant high grade gold intercepts in an oxidised BIF-felsic porphyry host. This mineralisation is open at depth and along strike and warrants immediate further drilling, while numerous other gold geochemical targets (e.g. Mimbili) at Geita also require drilling at the earliest possible opportunity.
Significant drill intercepts from Mabale Hills drilling include:
- DH MBNR001 34m @ 3.6g/t Au
- DH MBNR007 12m @ 9.1g/t Au
- DH MBNR015 63m @ 2.6g/t Au
- DH MBND001 31m @ 6.0g/t Au