Zanzibar Commences Due diligence of Advance Gold Properties
Zanzibar Gold Inc.
5623 145A Street - Surrey BC V3S 8E3
Tel 778-891-2701
Zanzibar Commences Due diligence of Advance Gold Properties
April 26, 2019 Zanzibar Gold Inc. (ZBR – CSE; ZNZBF – OTC Pinks) reports that it has initiated
acquisition of the Mkuvi a Gold Property in the Nachen gwea area of southern Tanzania and the
Fakawi Gold property in the Handeni area of North-central 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, th at outlined an inferred reserve 6 million grams of gold. A
preliminary operation plan was drawn up but never put in place, so most of the reserve is intact.
The potential of a low-cost extraction of placer gold from part of an extensive gold bearing placer
alluvium will be investigated by Zanzibar . Placer deposits are attractive because of their low costs
and ability to supply high grade gold (often in the 90%+ purity range) r educing further processing
costs. Acquiring a gold inventory will assist the company in pr oceeding with all its gold exploration
and development projects.
The Fakawi Property is an advanced hard rock exploration project that has widespread high grade
gold veins with several multi gram assay results over 1 metre of surface tre nching, north of the 1
million ounce Magambezi Deposit. No follow up exploration has been conducted on these veins.
Recent reporting from Streetwise Reports outlined that the gold supply is “slowing down.” It further
summarizes that there “have been no major gold discoveries …[and] no technological break
throughs…”. As a result mines are showing lower grades.
“Coupled with the underlining worries about Brexit and the cautious comments on the USA ’s
economy,” President, S.A. Farrage noted, “having an inventor y of gold bullion can stabilize the
Company’s prospects!”
G. Macdonald, the QP for the company has reviewed this news release.
On behalf of the Board
Abby Farrage President
1-778-891-2701
https://thecse.com/en/listings/mining/zanzibar-gold-inc
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