Date : May 14, 2019
One stock that may have escaped your notice, but deserves a strong look at present is Zanzibar Gold Inc. (OTCMKTS:ZNZBF). This is one of the few pure plays on the booming vanadium market. It’s a resource player with exposure to gold and copper as well. If there is a clear trigger for a potential boom in shares of Zanzibar, then it is about whether its mining property is showing “symptoms” of serious assets in the ground. On that note, the new is starting to look very promising. Indeed, the company just recently announced new and very interesting data on its copper gold and vanadium Property on Vancouver Island.
According to the release, “During this initial program soil and rock samples were taken in the area and analyzed for ICP 30 elements. Preliminary geological mapping and analysis was also undertaken. One new showing, gossan in a sheared portion of the gabbro was uncovered and sampling (Grab, rock) assayed 0.31% Copper and 1.15 grams gold with high vanadium (84ppm) and another sample from the same zone had copper and gold values and 194 ppm vanadium. This new showing in a shear zone within the gabbro unit that crosses the entire property in a NNW direction and is anomalous in its entirety (2-3 km is present on the property) and continues to the north is part of the continuous unit with several gold copper showings. Values of samples in the adjacent properties and showings that are on the property have been reported in the 1-3 ppm range with high grade (adjacent properties) values in the 10+ gram per tonne range. Gold (over 2000 ounces) was recovered from the region, in the mid-20th Century from small operations. The preliminary sampling has indicated that the gabbro is more mineralized than the surrounding volcanics, with higher vanadium values. Anomalous gold values are associated with higher vanadium values and copper values. A review of the available data indicates that the gabbro is anomalous in vanadium and gold.”
Zanzibar Gold Inc. (OTCMKTS:ZNZBF) is set to identify, evaluate, acquire and explore mineral properties for the purposes of identifying a mineral resource deposit on its existing property interests or any of the subsequent properties acquired by the Issuer for the development of a mine.
As noted above, the company just entered the vanadium industry as well.
The Gold Property is located west of the village of Kwamagome, 35 kilometres southwest of the city of Handeni in the Handeni Region, Handeni – Tanga Rural District, United Republic of Tanzania, East Africa and is centered on 5°33’47”S and 37° 51’35”E.
First investigated in 2005, there is no recorded previous exploration on the Property. It is located within a pan-African belt of metamorphic rocks known as the Mozambique Belt. The northwest southeast striking belt of metasedimentary rocks around a central core of a mafic amphibolite unit in granitic gniesses and/or intrusive equivalents which are striking northwest and associated with the Magambazi zone (East Africa Mines – formerly Canaco Resources) located to the south east.
A recent alluvium deposition that fills the main valley that are adjacent to the ridges of outcrop that host the main auriferous structures in the Bondo area (which lies immediately north of the Property). The Alluvium appears to be un-stratified composing of cobbles, pebbles, gravel and sand. The cobbles and pebbles for the most part appear to be quartz although a few metasediment types were noted. The auriferous unit is sand and almost colluvial in appearance. The identified mineralization in the adjacent drainages is beneath 5-6 metres of barren clay silt valley fill contains the Gold.
A recommended exploration program to evaluate the potential of the Property by test pitting and trenching is being initiated.
On the Radar
As noted above, ZNZBF recently announced new and very interesting data on its copper gold and vanadium Property on Vancouver Island.
President S.A. Farrage stated, “The association of gold with a long trend of geology is always a positive and that we have an important new element, Vanadium, associated with it is encouraging.”
ZNZBF shares have been relatively flat over the past month of action, with very little net movement during that period. But one gets the sense that, as new catalysts roll out, the crowd could “suddenly” discover the promise here. And with a thin tape, the movement in response could be dramatic.
The other big news here is the company’s announcement that it has signed an option agreement to acquire a potential vanadium Property on Vancouver Island. The Property is located adjacent to an area which has had significant copper gold exploration that revealed anomalous vanadium values in soil sampling.
According to the release, “ZBR will pay $50,000 and will issue 1,000,000 common shares on signing and conduct $75,000 in exploration by December 31, 2018. Further payment include an additional $50,000 on or before May 15, 2019, 1,500,000 common shares on or before October 31, 2019 and $150,000 in exploration expenditures incurred on or before December 31, 2019. During this soil program (2006) over 60 samples were taken in the area and on the claim they were analyzed for ICP 30 elements. A review this year outlined for vanadium, found that most of the samples were above the world wide back ground of 50 ppm and a high proportion (90%) were above 100 ppm with almost all on the Panther Claim along a 2 km stretch above 200 ppm and 2-3 above 300 ppm.”