Gold
Obtala has licences in the Lake Victoria Goldfields, also within central Tanzania and in the southern part of the country close to the Lupa Goldfield.
Lake Victoria Goldfield (LVG) is a world-class gold province with in excess of 50Moz of proven and probable reserves, making it the third largest gold producing area in Africa. Obtala's gold licences (excepting the Majimoto South licence which lies to the northeast of Mwanza close to North Mara Gold Mine) occur south of Mwanza within the Shinyanga and Mwanza districts of Tanzania where active mining at the Bulyanhulu, Geita, Golden Pride, Buzwagi and Tulawaka gold mines is in operation, managed and owned by major international mining houses.
Exploration to date show favourable gold anomalies at the Shinyanga and Buckreef licences. Two separate zones at Shinyanga returned values up to 0.66g/t Au-in-soil. Artisanal and small scale mining are operating approximately 1,000m to the east of the licence area near to Mwanubi village. The recently acquired Busolwa licence (50% ownership with option to increase to 60%), hosts known gold mineralisation (currently being mined by controlled artisanal workers) and represents a highly prospective target, which will be the focus of field activities. Recent grab samples collected by Obtala geologists returned gold values up to 30g/t.
Access across the LVG area is generally good with a number of tar roads servicing the major towns. Access to all licences is via gravel roads. Airstrips are located at Geita and Shinyanga. The area is well serviced to the growing mining industry. Geita can be accessed from Mwanza via the Kamanga ferry crossing.
Shinyanga related announcements
Buckreef related announcements