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ARGENTINA MINING LTD

ASX: AVK

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Description

Name changed to Tanga Resources Limited ASX: TRL

Argentina Mining Limited (ASX:AVK) is exploring for gold and copper in Tanzania.

In December 2013, AVK obtained 100% of the issued capital of Simba Minerals Ltd which holds a 99.95% interest in two large regions referred to as the Geita and Singida Projects, in the Nyanzian Craton in Tanzania, East Africa.

The Nyanzian Craton is about 350,000km2 in place and comprises extensive areas of Archaean "Yilgarn-Fashion" greenstones, similar to those in Western Australia, which are highly prospective for gold. The greenstones are host to an internationally recognised major gold camp, with an estimated 70Moz potential, from which complete 2011 gold generation has been approximately 40 tonnes.

Tanzania has been Africa's 4th biggest gold producer in recent years and is the biggest manufacturer internationally (World Gold Council 2013).

Leading nickel and gold business Independence Group NL is a 12.3% basis investor in Argentina Mining Limited.

Geita, Tanzania
Other nearby signficant gold projects comprise Geita (12Moz), Buzwagi (4.4Moz), Tulawaka (0.7Moz), Golden Pride (0.7Moz) and Golden Ridge (0.7Moz). Whole gold endowment of the Lake Victoria Goldfields is in excess of 70Moz.

WIthin the Geita Project, over 10,000m of drilling at the Mabale Hills Prospect by TSX Listed Currie Rose Resources Inc. between 2004-2012 identified a number of essential high grade gold intercepts in an oxidised BIF-felsic porphyry host. This mineralisation is open at depth and along strike and warrants immediate further drilling, while numerous other gold geochemical targets (e.g. Mimbili) at Geita also require drilling at the earliest possible opportunity.

Singida, Tanzania
Singida consists of twelve 99.95% owned Prospecting Licences, covering 410km2 of Archaean greenstones in Central North Tanzania, 60km north of Shanta Gold's 0.9Moz Londoni gold resource, which isn't yet in creation. Regional soil geochemistry at four of the Singida prospects has defined the following gold anomolism in laterized greenstones

Mine For

copper, gold, silver, molybdenum

Location of operation(s)

Argentina

Address

Suite 6, 25 Walters Drive, Herdsman Business Park
Osborne Park, WA, Australia

Phone

+61 8 9204 2433

Email

Website


Last Updated

16/09/2014

 

The data on Australian Shares.com is intended as a guide only and is provided purely as an indication of what information can be found through official announcements. Data on this website should not be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. The publisher (Intaanetto Pty Ltd) will not be held liable for any loss arising from the use of this website.