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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.
