By Business Reporter
TANGA Resources, which is exploring for gold in Tanzania, has now also started a search for zinc in Namibia, with the company announcing the start of drilling at its recently acquired Joumbira project.
A diamond drilling programme is planned for four holes, totalling about 600 m, targeting shallow, high-grade zinc/lead mineralisation.
Core from the drilling programme will be cut prior to being transported to the Intertek Laboratory at Tsumeb, in Namibia, and then sent to Australia for assay, the company reported.
Confidente reported late last year that the company entered into a binding option agreement to acquire 100 percent of the issued shares of Namibia-registered Coldstone Investments, which has a joint venture (JV) agreement with government-owned Epangelo Mining to earn 80 percent, potentially 90 percent, of the zinc/lead/ silver project in the Damaran belt.
Joumbira was held in an equity JV with Epangelo, with Coldstone currently holding a 10 percent equity interest.
“We are pleased to announce the option to acquire such an exciting project and through our acquisition of Coldstone, partnering with Epangelo, to advance the Joumbira zinc project. Joumbira is a highly prospective, advanced zinc/lead/ silver project, in a world-class mining jurisdiction and the timing for shareholder exposure to zinc could not be better,” said Tanga Resources CEO Matthew Bowles at the time of the acquisition.
He noted that Tanga now had two highly prospective projects, which it could build on. The company’s other exploration project is the Hanang gold project, in Tanzania.
“We look forward to further exploration success from both projects in the near future,” he said. The Joumbira project has had no modern day exploration, with the majority of historical exploration undertaken during the late 1970s and some limited follow-up work in 2002.
The project is located in central Namibia, approximately 190km by sealed road from the capital, Windhoek and 400km from the port of Walvis Bay. The Project has excellent infrastructure with the major service town Otjiwarongoro located 50km to the north with existing grid power and the national railway line is in close proximity.
The zinc-lead-silver mineralisation at Joumbira is skarn hosted within Neo-proterozoic Damaran calc-silicate sedimentary rocks intruded by Cambrian aged felsic stocks. Massive sulphide replacement mineralisation occurs distal to the felsic intrusive, and the Project has had little modern exploration carried out since 2002.Joumbira occurs within a major metallogenic belt (defined by regional magnetic data) stretching for over 300km southwest to Navachab and northeast to Otjikoto and the Kombat district near Tsumeb.
Confidente. Lifting the Lid. Copyright © 2015