HomeBusiness DigestGold’s Glitter Attracts Exploration

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GOLD mining companies in the country have continued to increase exploration activities in anticipation of better earnings from improved commodity prices, especially that of gold.

Two companies, Mwana Africa and African Consolidated Resources (ACR), last year released reports showing the extent of exploration activities.

Mwana Africa’s Zimbabwe Greenfields Exploration would see the company foraging for minerals in Bindura, parts of Midlands, Mutoko and Bubi.

The company has 1 308 claims in the said areas.

ACR’s explorations have shown that there are gold and diamond deposits which have previously not been looked into.

A report detailing the mining company’s mineral potential in the areas where it has claims has shown that the firm can further exploit resources.

“Gold exploration in the Gadzema Belt, a few kilometres south of the Giant Mine, has discovered broad, near-surface gold mineralisation hosted by stock works,” ACR said. “This style of mineralisation has received little previous exploration.”

ACR also said that the economic pit modelling of the Giant Gold Mine has indicated that a conceptual pit at current gold prices will extend below the current drilling depth of 100-150m.

“A deeper drilling campaign is recommended to add further resources at depth and to close off broad gold intercepts hosted by a quartz diorite intrusion to the south,” said the mining company. “ACR is currently modelling a consolidated gold operation to encompass gold resources in the Midlands district at Gadzema (Giant and Blue Rock), and at Pickstone-Peerless, 30 km to the south.”

ACR’s exploration activities have been buoyed by the policy changes last year which have seen the liberalisation of marketing of gold with only a percentage being remitted to the Reserve Bank of Zimbabwe.

Exploration into the potential of other minerals has shown three areas containing probe-proven kimberlite indicator minerals.

These have been interpreted as being sourced from the diamond stability field.

“Ongoing detailed sampling is currently in progress to discover the parent kimberlites.

These targets have been generated from a large historical database that ACR acquired in July 2008,” said ACR.

Apart from these potential diamond deposits, the company also has proven claims in Marange and these have been confirmed by the High Court though the company is yet to start mining.

Despite the confirmation of the ACR claims by the High Court, the Zimbabwe Mining Development Corporation has, in partnership with two other companies, continued to mine in Marange.

ACR also has claims and interests in other mineral resources apart from gold and diamond and these include nickel, base metals and platinum.

 

Leonard Makombe

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