Gold in Mozambique

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Geology

The regional trend of the Manica greenstone belt, on the Zimbabwean border, which hosts the known gold mineralization and only operating mine in the past, is east west. It consists of intensely metamorphosed and strongly foliated volcanic rocks, with subordinate banded ironstone, tuff and greywacke. The surrounding rocks are granite or gneiss from the Archaean basement. Structurally, the greenstone belt is complex with at least four major deformation phases identified.There are three east-west striking major shear zones which control the gold mineralization.

• Alluvial deposits within the Revue, Inhamurra, Muza and Chimezi rivers. An estimated resource potential of these alluvial deposits amounts to 112 million m³ at an average grade of 0.25g/m³, yielding approximately 25 t of gold.

• The Niassa province in the northwest of Mozambique has seen an increase in gold exploration and mining, in particular by artisanal workers. Gold is located within structurally controlled quartz veins located within Proterozoic greenstone belts located close to the shores of Lake Nyasa. Currently all gold production in this region comes from artisanal alluvial workings that grade at between 0.5 – 3 g/m³. It is estimated that about 12 t of gold has been produced from this region since 1990.

Bandire artisanal miners
Source: Baobab Resources plc

• Pan African Resources plc (AIM:PAF) is developing the Manica project where an orebody with an estimated 12, 5 million t at a grade of 2,58 g/t Au or 1,038 million oz of gold, has been outlined. Pan African released a resource update in September, 2007, which increased the estimated resource at Manica 18% to 1.55 million oz from the previous 1.31 million oz. A bankable feasibility study should be completed on the Manica project by July 2008. The company has completed 17 462 m of drilling at the site and intends to drill another 15 600 m during 2008. In January, 2008, the Manica project had a gross in situ mineral resource of about 16,28-million tons at 2,96 g/t. In the meantime, the Fair Bride prospect resource at the Manica project, has increased by 20%, to 1 245-million ounces, while the Guy Fawkes prospect has emerged as a significant new potential exploration target.

• Baobab Resources plc is exploring gold occurrences in the Manica, Bandire / Sussendenga and Furnacungo/Angoni areas.