January 29, 2020: Zanzibar Starts Exploration on Tanzanian Gold Properties and announces stock option grant
VANCOUVER, Jan. 29, 2020 - Zanzibar Gold Inc. (the “Company”) (ZBR – CSE; ZNZBF – OTC Pinks) has collected approximately 1,200 cubic metres of sample material from both its three (3) prime target areas as outlined in the 2009 Sedar filed Douglas Lake Mineral (Now Handeni Gold) report on the Mkuvia Gold Placer (“Mkuvia”) Project in southern Tanzania, as well as a single additional area identified on the 2011 issued Mining License that is reported by the local miners to contain alluvial gold.
Evaluation of the gold content in each sample will be conducted this week by processing it through the Mobile Gold Trommel Wash Plant. The approximately 300 cubic metres of material was collected (14-16 truckloads) from each site will be processed separately. Prior to testing, fine tuning of the trommel operation will be completed by using unmineralized sandy material immediately adjacent to the Trommel setup site. Once process evaluation of the Trommel Wash Plant is completed, each of the four (4) test samples collected will be processed individually.
“Although rated to process between 80 and 120 cubic metres per hour,” stated project geologist, Lawrence Stephenson, who was the lead author of the Company’s 2009 Sedar report. “We will process each target sample as a separate batch in order to relate the results to those stated in the 2009 report.”
Once the characteristics of the alluvium are better understood, and the trommel working efficiently, the Company will process as many targets areas identified in the 2009 report as possible. Testing will also be carried out on the active channel alluvium of the Mkemkuru River to better quantify the results stated in the 2009 report.
Local area mining has not succeeded at sampling alluvium below 3-4 metres depth although, there are unsubstantiated reports that mining has been able to get below the solid clay (“false bedrock”) layer at between 4 -7 metres depth where documented. Both the upper and lower alluvium targets and in the active river will be sampled using an onsite excavator.
“We are pleased with the progress we’re making in moving this project forward,” said company President Abby Farrage. “The price of gold remains firm and above US$1500. Our evaluation of the artisanal workings in the area to date substantiates why the area has been continually mined by the local workers since the early 2000’s.”
Paul Smith (P. Geo), the QP for the company has reviewed and approved the scientific and technical information in this news release.
The Company is pleased to announce that it has entered into stock option agreements granting the right and option to purchase 2,716,731 common shares of the Company at $0.13 per common share exercisable in whole or in part on or before five years from January 29, 2020.
On behalf of the Board
Abby Farrage, President
1 (236) 818-2886
phoenicianabi@gmail.com