The latest drill results from MDN’s (MDN-T) Ikungu gold property in Tanzania show the company to be following through on its goal of proving up mineralization at depth.
The latest assays come from four holes that are part of its ongoing 13 hole, 5,000 metre drill program at the property which sits in northern Tanzania roughly 135-km north of Mwanza, the country’s second largest city.
Three of the holes, IKD-47, 48 and 44 drilled down to below the 300 metre level and were highlighted by:
– Hole 48 intercepted two zones that returned 5.92 grams gold over 3.06 metres and 3.11 grams gold over 9.5 metres at a depth of 380 metres.
– Hole 44 intercepted 2.53 grams gold over 6.1 metres at a vertical depth of 340 metres
– Hole 47 intersected 2.72 grams gold over 8.42 metres at a depth of 380 metres.
“We have now identified zones with continuity at depth along the southeast plunge, and will be proceeding with definition drilling with the intent of announcing a resource estimate in 2011,” Marc Boisvert, MDN’s Vice President of Exploration, said in a statement.
The company is especially bullish on hole 47, because when combined with a previously drilled hole, it indicates the structure widens to the west, which opens up the possibility of another gold zone sitting further west. MDN plans to test the area in the near future.
Gold mineralization at the property is associated with sulphides in grey quartz veins and altered assemblages resulting in high-grade mineralized lenses.
There was some small-scale historical mining done at the site between 1936 and 1952 with reported average head grades averaging 12.5 grams per tonne.
MDN has a 60% stake in the property with an option to acquire another 10%.
The company has a strong presence for a junior in Tanzania thanks to its 30% participating interest in the Tulawaka gold mine. The mine, which is majority owned and controlled by African Barrick Gold (ABG-L), generates positive cash flows for MDN.
Be the first to comment on "MDN looks north in Tanzania"