Gem International Resources has an option agreement with Eden Gold Limited to acquire a 80-per-cent interest in a gold and precious metals property located in the Handeni region of Tanzania. The property contains a total area of 227.2 square kilometers and adjoins the western boundary of Canaco Resources Inc.’s Handeni property
Canaco has made a major gold discovery, including 23 metres of 19.14 grams per tonne gold in drilling. Canaco’s regional exploration has extended the gold trend to 15 kilometres, discovering new gold mineralization 5 kilometers west-northwest of the Magambazi Gold Discovery, on their Handeni property in Tanzania. This discovery has created significant market attention. The Company’s immediate plan is to aggressively explore the project.
Gem International Resources Inc. has an option agreement with Musadik Mohamed Ally and Najua Kassira, to acquire a 70-per-cent interest in certain diamond claims in the prolific Shinyanga region of Tanzania. The property consists of 109 Primary Mining Licences covering a total area of 2,743 acres that are situated within the same geological terrain as the Williamson mine.
Gem International has acquired a 70% interest into Maganzo and Kolandoto diamond mineral claims in the rich Shinyanga Region of Tanzania. Shinyanga is considered to be one of the largest diamond producing areas. The Maganzo and Kolandoto diamond mineral claims consists of ten primary mining licenses covering a total area of 247 acres that are situated south of the Williamson Mine, one of World’s most significant diamond producers.
The Williamson Mine’s production in the 1950s and 1960s was between 500,000 and 750,000 carats (100 and 150 kg) per year; the peak year of production was 1966, when 924,984 carats (185 kg) were produced. Today, production levels for all Williamson mine diamond recovery activities are about 300,000 carats (60 kg) per year. Notable stones produced at the Williamson mine include a 54 carat (10.8 g) flawless pink diamond (presented to then Princess Elizabeth and Prince Philip upon their wedding in 1947), and a 388 carat (77.6 g) diamond found in 1990.
Tanzania: Quick Facts
- 3rd largest gold producer in Africa
- Area: 945,090 sq km
- Population: 31,270,820
- Capital city: Dodoma
- People: 99% native African (over 100 tribes), 1% Asian, European and Arabic
- Languages: Swahili, English, indigenous
- Religion: 40% Christian, 33% Muslim, 20% indigenous beliefs
- Government: Republic (multi-party state)
- GDP: US$7 billion
- GDP per head: US$220
- Inflation: 40%
- Major industries: Tobacco, sugar, sisal, diamond and gold mining, oil refining, cement, tourism
- Major trading partners: India, Germany, Japan, Malaysia, Rwanda, the Netherlands, South Africa, Kenya, U.K., Saudi Arabia, China