Irving’s subsidiary, Spring Take Limited was granted two prospecting licenses in Mpwapwa District of the Dodoma Region in east-central Tanzania. These prospecting licenses were granted on September 18th and on October 6th, 2015 for a period of 48 months.
The targeted commodity on these prospecting licenses is copper and associated metals. Small artisinal copper mines, both active and inactive, are scattered throughout this area. Supergene enriched copper mineralization occurs within weathered, high rank metamorphic rocks. Underlying hypogene copper mineralization may be of iron oxide copper-gold (IOCG) type or highly metamorphosed volcanogenic and/or sedimentary-hosted copper sulfide deposits.
The exploration team formed by the Joint Venture with JOGMEC commenced the Phase I field program on November 24th, 2015. The program encompasses local community consultations as well as soil geochemical sampling is expected to take three weeks. Multi-element results from soil samples are expected back in early 2016 at which time a decision will be made on future exploration on the property.