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MDN | 0.280
Current price of gold:
US$ 1,719.00/oz



Project Summary: Viyonza

Owner

Co-ownership with Tanzanian Royalty Exploration, with MDN able to earn up to a 65% interest.

Location

Located 160 km to the SW of Mwanza, the second largest city in Tanzania, and 18 km to the north of the Tulawaka mine (Barrick 70%, MDN 30%).

Area

The project consists of one prospecting license of 25.72 km2 and two licenses whose renewals are pending totaling 77.12 km2.

Geology and mineralization

The Viyonza showing was discovered by MDN in 2005 approximately 15 km to the north of the Tulawaka mine plant.  The original showing measured 400 m long by 300 m wide and was tested by drilling from 2005 to 2007.  The mineralization is associated with steeply-dipping sulphide-bearing quartz veins hosted by shear zones that cut gabbro and tuff near a granodiorite intrusion.  Visible gold occurs in holes NTDD-03 and NTDD-04.  400 metres from the main zone in Block A, holes NTRC-70 and NTRC-71 cut several mineralized zones one of which graded 11.6 g/t Au over 1.0 m.

  • The Viyonza project is located in the Rwamagaza greenstone belt, host of the Tulawaka (> 748000 oz Au) and Buck Reef (± 1.8 million oz Au) mines.
  • Two gold zones were discovered, one in block A and another in block D.
  • Block A gold is associated with quartz veins and sulfides in an intensely-sheared gabbro intrusion an in surrounding volcanic tuff.
  • Gold mineralization inside Block D is associated with quartz veins hosted by mafic tuff.
  • Gold anomalies detected by several soil surveys are aligned along the northern contact of the volcanic rocks with the granites.  This contact transects the property for more than 6 km and joins the A and D blocks.
  • The Viyonza property forms the western extremity of the gold anomaly that constitutes the 30-km-long Viyonza-Mnekezi lineament.  This lineament coincides with the northern contact of the volcanic belt with the granitic rocks.  The Tulawaka mine occurs in a similar geologic environment but along the southern contact of the belt.

The technical and scientific information contained in this document has been reviewed by Marc Boisvert, engineering geologist and Vice President, Exploration, who is a qualified person under National Instrument 43-101.