ASX-listed Burey Gold is acquiring a 60% interest in five exploitation permits, covering 1 456 km2 of highly prospective ground in the Haut Uele province, in north-east Democratic Republic of Congo (DRC).
Through an agreement with a Dubai-based private company Medidoc FZE, the company would obtain the Tendao project, which borders its own Giro project to the west.
This gives Burey a substantial ground holding in the renowned Kilo-Moto greenstone belt which also hosts Randgold Resources and AngloGold Ashanti’s 16-million-ounce joint venture Kibali gold deposits.
Kibali produced 642 720 oz of gold in 2015, its first full year of operation, confirming a favourable mining environment in the region.
Burey chairperson Klaus Eckhof stated that this highly prospective acquisition would significantly increase Burey’s footprint to over 2 000 km².
“Burey has had the project in its sights for some time and finally an opportunity has presented itself. We are very excited with the opportunity and due diligence investigations will start immediately,” he added.
Historical colonial mining at surface indicates that there is considerably more to uncover in this region.