Botswana is not a major gold producer, producing 950 oz of gold in 2003 compared to 670 oz in 2002. Mining operations are centered around Francistown in the north eastern parts of the country, bordering with Zimbabwe. Here gold is hosted within structurally controlled greenstone belts, which extend across from Zimbabwe. The Tati and Vumba greenstone belts are considered to have excellent potential to host major gold and nickel deposits. Both belts occur within the Botswana portion of the Archaean Zimbabwe Craton. While production from the Tati and Vumba greenstone belts only amounts to some 400 000 oz of gold, production from similar greenstone belts in Zimbabwe exceeds 77 Moz with 13 deposits greater than 1 Moz in size.
Australian junior Gallery Gold has its entire exploration focus on gold exploration in Botswana. It has a well developed land tenement portfolio consisting of 12 Prospecting Licences and 3 Mining Licences totalling 2 300 square kilometres that covers some 90% of both the Tati and Vumba greenstone belts. The most promising prospect appears to be the company’s wholly owned Mupane Gold Mine which was officially opened in February 2005. The mine will produce an estimated 100,000 ounces of gold a year and create some 300 jobs. The mine has an estimated life span of five years and a resource base of 983,000 ounces and higher gold prices could result in an increased conversion to reserves. Gallery Gold has hedged 60 percent of Mupane’s initial reserves at $392/ounce to satisfy project financing requirements.
Gallery also the three non-operative gold mines at Golden Eagle, Monarch and Shashe. These mines (currently on care and maintenance) have a combined resource estimated at 2.1 Mt grading 5.5 g/t for 362 000 oz gold. Gallery Gold have acquired th e Signal Hill Gold deposit that is located a mere 11km away from Mupane. The Signal Hill deposit has an inferred resource of 1.68 Mt grading 2.2 g/t gold for 119 000 oz, of which 56 000 oz is recoverable from an open pit resource.
Another Australian junior, Tawana Resources NL has been evaluating the alluvial Somerset Deposit, also located in the Vumba Greenstone belt near Francistown. Studies indicate a total mineral resource containing 1000 000 t of superficial gravel. Tawana are carrying out several bulk samples to obtain an overall grade for the deposit. Previous workings reported an average grade of 2.85 g/t. The Company is currently working on plans to begin production from a new mining operation at Map Nora – approximately 20 kilometres from Mupane – before the end of the 2005 year.
Mupane Gold mining Pty Ltd :[ Add More ]
Bonanza, Cherished Hope, Damtshaa, Damtshaa diamond mine, Deception Pan Block, Dukwe, Golden Eagle, Gope, Jwaneng, Jwaneng diamond mine, Khutse-Kikao, Kite, Kokong, Letlhakane, Letlhakane diamond mine, Maitengwe, Map Nora, Martins Drift, Matsitama, Mmamabula :[ View All ]
Gallery Gold Limited
Apart from an advanced gold exploration program in Botswana, Gallery Gold also own non operational Golden Eagle, Monarch and Shashe gold mines.