Apr 9 2013
SIKA Resources Inc. ("SIKA" or the "Company") is pleased to announce that field work will commence on its wholly-owned Ntundu gold property on or about the 15th of April, 2013. The Ntundu Property is located in the Lake Victoria Goldfields.
Kim Harris, SIKA's President and CEO, comments: "We are very pleased to be initiating work on SIKA's flagship property, which is located immediately adjacent to the Jubilee Reef Mine, the oldest and also the first gold mine discovered in Tanzania. The Ntundu property is highly prospective and we are eager to get our exploration program underway."
Artisanal miners are quite active in the Ntundu area, which lies roughly 40 kilometres south of African Barrick's 17 plus million-ounce Bulyanhulu gold mine, and 30 kilometres north of African Barrick's 2.6 plus million ounce Buzwagi gold mine. The Lake Victoria region of Tanzania is host to several other significant producing gold mines, as well. Tanzania remains a stable, investor-friendly jurisdiction.
The Ntundu gold property is located within the Archean age Siga-Mabale Hills greenstone belt, largely comprised of sheared and isoclinaly folded volcanics and associated sedimentary rocks including banded iron formation ("BIF"), the latter being a significant host for gold in this area.
Please click the link below to view SIKA's property locations: http://sikaresources.com/wp-content/uploads/2012/10/SIKA_Regional_Geology_November_2012.png.
The initial work program on Ntundu includes:
- Geological mapping, prospecting and sampling, with a particular emphasis on areas where banded iron formation (BIF), quartz veining, shearing and historical workings are found;
- A line of soil samples at a 100-metre spacing along the base of the uplifted outcrop area to detect any gold, the source of which would be from the outcrop area within the property.
All samples will be sent to the SGS laboratory in Mwanza, Tanzania for analysis.
Avrom E. Howard, MSc, FGA, PGeo, an independent consulting geologist, is SIKA's Qualified Person. He has reviewed the property and the planned program, as well as the technical content of this news release.