Nyakafuru Gold Project
Caracal is acquiring a 100% interest in the advanced Nyakafuru Gold Project. Located in the world-class Lake Victoria Gold Fields in Tanzania, one of Africa’s largest gold producing regions, the project
Location
Located in the world-class Lake Victoria Gold Fields, 140km Southwest of Mwanza, Tanzania’s second largest city.
Fast Facts
JORC-Compliant resource of 658,751oz a 2.08g/t with major exploration upside
11 granted exploration licences over 280 km2 with four key deposit areas – Voyager, Mentelle, Cullen, Leeuwin-Grange – and multiple other exploration targets
Located in the Lake Victoria Gold Fields in northern Tanzania, one of Africa’s largest producing gold regions, 140km by sealed road southwest of Mwanza, Tanzania’s second largest city, and 60km from Barrick Gold’s 18Moz Bulyanhulu Gold Min
Proven high-grade, shallow gold resource has the potential to produce 50,000oz per annum
Previous positive development studies completed based on large scale conventional open pit operation and CIL processing plant, and EIA approved providing opportunity for near-term development
Excellent infrastructure, including national highway, power and an established camp with office, accommodation, and workshop facilities
Resources
Development
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Resources
- Located within the Nyanzian System of the Lake Victoria Gold Fields in the northern part of the Archaean Tanzania Craton
- Licences cover the south-western end of the Siga-Mabale Greenstone Belt, 60km SW of Barrick Gold’s 18Moz Bulyanhulu Gold Mine
- Current JORC compliant resource of 658,751oz at 1.67g/t defined at the Voyager, Mentelle, Cullen, Leeuwin-Grange
- Significant expansion potential with multiple other exploration targets identified, several with significant drill intercepts.
Total Resource (1 g/t cut-off)
| Tonnes (Mt) | Grade (g/t) | Ounces (koz) | ||
|---|---|---|---|---|
| Voyager-Mentelle | Measured and Indicated | 5.9 | 1.71 | 322 |
| Inferred | 1.9 | 1.47 | 89 | |
| Total | 7.7 | 1.65 | 411 | |
| Leeuwin-Grange | Measured and Indicated | 2.2 | 1.62 | 114 |
| Inferred | 2.4 | 1.75 | 134 | |
| Total | 4.6 | 1.69 | 248 | |
| Total | Measured and Indicated | 8.1 | 1.67 | 4.36 |
| Inferred | 4.3 | 1.61 | 223 | |
| Total | 12.3 | 1.67 | 659 |
Development
- Focussed on increasing resource confidence and magnitude, with significant expansion potential identified
- Opportunity to rapidly develop as shallow conventional open pit operations – previous positive development studies completed based on large scale conventional open pit operation and CIL processing plant
- EIA approved at Nyakafuru providing opportunity for near-term development
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