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Africo Resources owns the rights to three Large Scale Prospecting Licenses (LSPLs) in north-eastern Zambia, which cover the main parts of the Mporokoso sedimentary basin. The licenses cover a strike length of approximately 280km, over an area of some 5,850km², over the south-eastern margin of the main Mporokoso basin, as well as sub-basins containing prospective Mporokoso Group rocks.
The Mporokoso basin has very similar geology to the Witwatersrand basin in South Africa and the Tarkwa basin in Ghana, both major gold producers. The licences are wholly-owned through Africo Resources' subsidiary, Swanex Zambia Ltd. (Swanex Zambia), and Swanex Zambia has undertaken a significant amount of work in the region, including establishing 8 reverse circulation boreholes and 6 diamond core drill holes. Work is now under way to define the best areas of the basin in which to focus the search for economic concentrations of gold mineralisation.
The basal Mbala Formation of the Mporokoso Basin has confirmed potential to hold gold mineralisation. This is an excellent opportunity to locate a significant gold occurrence in a large and relatively unexplored basin. To date most of the exploration has been focused in the eastern portion of the basin where outcrop is reasonable due to some structural deformation in this area. Exploration in the central part of the basin will be more of a challenge, but will be justified by the potential to discover a large tonnage conglomerate hosted gold deposit within this extensive sedimentary basin.
