Alberta-listed Tan Range Exploration has granted Takla Star Resources (ASE) and Fairfield Explorations (ME) an option to develop the Luhala and Ngula gold projects in Tanzania.
Takla and Fairfield can earn up to a 50% interest in each of the properties by funding up to $500,000 in exploration on each of them.
Luhala contains a gold-bearing quartz stockwork structure with open-pit potential, Tan Range reports. Limited sampling along a strike length of 1,200 metres has returned gold values from 1.5 to 7.5 grams gold per tonne. Ngula is on strike and adjacent to the western extension of the shear zone that hosts the 1.9-million-oz. Buluanhulu deposit. Tan Range reports assays up to 26 grams gold from the quartz- and graphite-bearing shear zones on the property.
Before exercising their option, Takla and Fairfield will undertake a due diligence review of the projects.
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