Zanzibar Gold Inc. Commences Due diligence on 6 million gram reserve and Adjacent Gold Properties
VANCOUVER, May 28, 2019 - Zanzibar Gold Inc. (ZBR – CSE; ZNZBF – OTC Pinks) reports that its consultants have initiated their exploration evaluation of the Mkuvia Gold Property in the Nachengwea area of southern Tanzania.The Mkuvia property has had small scale local placer operators mining gold from the property since 2005. In 2009, a 43-101 Compliant Reserve report was calculated on the central portion of the main gold producing area, that outlined an inferred reserve 6 million grams of gold.
The initial assessment is to determine that the identified reserve is intact and the purity of the gold being recovered. A field visit to the property and the collection of the alluvial gold for analysis is being completed by the report’s original author.
“This work will determine how much of a gold bullion inventory can be established for the company by a low cost placer operation,” Company President S.A. Farrage outlined, “As well as enabling the company to evaluate other gold prospects in the region.”
Tanzania has moved from an insignificant gold producing country in the last century to a 50 tonne per year producer in the early part of the 21st century with Anglo Since Ashanti’s Geita Gold mine (7 million ounces produced since 2000 with reserves estimated at 7.7 million ounces) and Acacia’s (Barrick Gold Corp.) Buylanhulu (initial reserves 17 million ounces) as the forefront operations.
G. Macdonald, the QP for the company has reviewed this news release.
On behalf of the Board
Abby Farrage President
1-778-891-2701 Web site Zanzibar Gold Inc.
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