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Zanzibar Gold expands footprint in Tanzania

Zanzibar Gold has announced plans to acquire Mkuvia gold property, in the Nachengwea area of southern Tanzania, as well as the Fakawi gold property, in the Handeni area of north-central Tanzania.

The potential for low-cost extraction of placer gold from part of an extensive gold-bearing placer alluvium at Mkuvia will be investigated by Zanzibar.

The Fakawi property is an advanced hard rock exploration project that has widespread high-grade gold veins with several multigram assay results over one million of surface trenching, north of the one-million-ounce Magambezi deposit.

No follow-up exploration has been conducted on these veins.

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