Hanang Gold Project

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The Hanang Gold Project, located in Central Tanzania, approximately 300km north-east of the capital city of Dodoma, is comprised of 5 contiguous PL areas covering a total area of 230 km2.

The Hanang Gold Project is a regional gold project, located within a highly prospective, underexplored greenstone belt on the Eastern Margin of the +70Moz gold endowed Lake Victoria Gold Field. Mines within the Lake Victoria Gold Field include Anglo Gold Ashanti’s Geita Mine, Barrick Gold’s Bulyanhulu, and Perseus Mining’s development project Nyanzaga.

The Hanang Gold Project lies within the underexplored Iramba-Sekenke greenstone belt within Nyanzian volcanic rocks, sediments and banded iron formations (BIFs), typical of the Central Craton greenstone belts.

Marvel considers that there is significant upside to the Hanang Project, which remains relatively underexplored. There are numerous outcrops of mineralised BIF lithology, which is analogous to known mineralisation in the area.

Next Steps

Following the acquisition of the Hanang Gold Project, the Company will implement a strategic review of regional and local data, complete the assaying of current soil samples and conduct a drone-borne magnetic survey.

With this data in hand, the company intends to test initial known targets with a reverse circulation drilling program targeting high-grade gold mineralisation. In addition, the company continues to review strategic acquisitions in the region to expand its project portfolio.