TSX:
MDN | 0.0700
Current price of gold:
US$ 1,296.10/oz



Project Summary: Tulawaka

Owner

MDN holds a 30% participating interest in the Tulawaka property in Tanzania, which started commercial production in March 2005 as the Tulawaka Gold Mine.

Location

The Tulawaka mine is located about 160 km southwest of the city of Mwanza, in the western part of the Lake Victoria goldfield, United Republic of Tanzania. The property is a mining concession surrounded by prospecting licenses in the Biharamulo District (Kagera region) and Kahama District (Shinyanga region).

Area

The joint enterprise agreement covers an area of 317 km².

Reserves and Resources (Dec 31th, 2012)

Tulawaka commenced open pit operations in 2005. It had produced 937,154 ounces up until the end of December 2012. This corresponds to a 78% increase in production relative to the original 2003 feasibility study, which estimated reserves at 525,686 ounces of gold.

 

        

2012

2011

Tonnes

Grade Au

Ounces

Tonnes

Grade Au

Ounces

(000's)

(g/t)

(000's)

(000's)

(g/t)

(000's)

Reserve -  Proven and probable

41

16.81

22

237

12.02

91

 

 

 

 

 

 

 

 

Resources indicated

947

6.58

200

876

5.46

154

Resources inferred

184

4.67

27

166

5.72

30

 

Mineral reserves and mineral resources estimates contained in this report have been calculated as at 31 December 2012 in accordance with National Instrument 43-101 as required by Canadian securities regulatory authorities, unless otherwise stated. Canadian Institute of Mining, Metallurgy and Petroleum (CIM) definitions were followed for mineral reserves and resources. Calculations have been reviewed, verified (including estimation methodology, sampling, analytical and test data) and compiled by ABG personnel under the supervision of ABG Qualified Persons: Nic Schoeman, Director Operations Support, Eric Acheampong, Corporate Manager, Geology and Samuel Eshun, Corporate  Manager, Mine Planning. However, the figures stated are estimates and no assurances can be given that the indicated quantities of metal will be produced. In addition, totals stated may not add up due to rounding.

The main Tulawaka gold deposit is hosted in dominantly volcanogenic tuffaceous rock and bedded terrigenous sediment with thin layers of silicate iron formations, all metamorphosed into amphibolite facies. A generation of porphyric felsic dykes as well as a generation of mafic and felsic dykes intersect the metamorphic rocks.

The deposit is considered to have developed in an isolated shear zone along which porphyry dykes were intruded. The shear zone and the porphyry bodies developed in tectonic dislocations during deformation.

The shear zone appears to be parallel or subparallel to the rock strata, containing all the quartz veins over a strike length of at least 1,300 m, dipping to the northeast. These quartz veins pinch and swell both along strike and down dip, and contain most of the gold mineralization. Significant gold mineralization was found beneath current operations at a vertical depth of more than 200 meters.