SIKA Acquires Four Gold Properties in the Heart of Lake Victoria Goldfields, Tanzania
(firmenpresse) - TORONTO, ONTARIO -- (Marketwire) -- 01/11/12 -- SIKA Resources Inc. ("SIKA" or the "Company") is pleased to begin the new year with the acquisition of four gold projects in the heart of Lake Victoria Goldfields, Tanzania. All four properties are in proximity to major operating gold mines and significant known gold deposits, and all are located within the regional structural corridor that hosts many of the major gold deposits in the Lake Victoria Goldfields area.
Tanzania is one of Africa's most stable, mining friendly countries, featuring a progressive and western-oriented political system. Some salient features of the properties are as follows:
Several major multinational gold mining companies have made significant investments in Tanzania and are operating in the area, including Anglogold Ashanti (Geita mine - 33 million ounces in resource and reserve), African Barrick (Bulyanhulu mine - 15+ million ounces, Buzwagi mine - 2+ million ounces, Tulawaka mine - 1+ million ounces), and Resolute Mining (Golden Pride - 2.6 million ounces).
Please click link below to view the SIKA Property Location Map:
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A brief description of the four properties follows:
NTUNDU GOLD PROPERTY
ISELENGE GOLD PROPERTY
SHIBISO-IGWEMA GOLD PROPERTIES
SIKA's technical team visited all four projects in December 2011 during which time 44 soil and rock chip samples were collected and submitted to SGS Laboratories in Mwanza for analysis. Results are pending. SIKA's geological team will incorporate these data with all historical and other available, published data, which along with a follow up visit by SIKA's independent Qualified Person will be included in a Technical Report in accordance with the provisions of National Instrument 430-101. SIKA anticipates that this report will be completed within the next four months.
"Once the 43-101 report is in, and our initial exploration program is finalized, we plan to proceed quickly with the work required to assess and confirm the gold potential of these properties, along with evaluating additional gold opportunities in this prolific gold- producing region," said Kim Harris, SIKA's President and Chief Executive Officer.
ABOUT SIKA
SIKA Resources is a Canadian junior exploration company focused on Tanzanian gold. The Company was established in 1996 and has extensive experience, and excellent contacts and relationships throughout Tanzania and elsewhere across Africa. Management is committed to creating value by fast tracking prospective gold projects that show superior potential for further development. SIKA will continue to focus on the acquisition of gold properties that are geologically similar and geographically proximal to significant gold deposits and producing mines, then advancing them quickly, efficiently and effectively, mindful of the communities and natural surroundings of the areas within which the properties are located. For additional information, please visit SIKA at .
The technical content of this news release has been reviewed by Avrom E. Howard, M.Sc., F.G.A., P.Geo., a Qualified Person as defined by National Instrument 43-101.
Kim Harris, President and Chief Executive Officer
Certain statements contained in the following presentation constitute forward-looking statements, involving a number of known and unknown risks, uncertainties, and other factors, which may cause the actual results, performance, or achievements of the Company to be materially different from actual results and achievements expressed or implied in such statements. Readers are cautioned not to place undue reliance on these statements, while considering the risks inherent in the business of exploration.
Contacts:
SIKA Resources Inc.
Kim Harris
President and CEO
+ 1 416 447 6882
+ 1 416 447 9950 (FAX)
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Datum: 11.01.2012 - 18:52 Uhr
Sprache: Deutsch
News-ID 103320
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TORONTO, ONTARIO
Kategorie:
Mining & Metals
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