Gemstones

Lake Manyara - Option Agreement signed with Gemstones of Africa Plc. GoA can acquire up to 25% of 6 GML's for 5% of GoA share capital. The properties are located on the western shore of Lake Manyara covering 6km2. The emerald licences are valid for an initial period of 10 years and confer the holder the right to prospect for and mine gemstones. The Lake Manyara emerald field has a long history of exploration and production with quality gems up to 5 carats identified.

The host rock for the emeralds, and other gemstones, of the Lake Manyara area are largely metamorphic units of the Precambrian-aged Usagaran System. These units typically comprise felsic schists and biotite-actinolite schists with small pegmatitic veins common. Emeralds and alexandrite are commonly associated with the contact zones between clear quartz vein and biotite-actinolite schists, and gemstones have also been recorded as occurring at the contact between thin veinlets of granite/syenite and biotite-actinolite schist.