Pending Transactions

North Terer and Ziban Gedena property licenses

The North Terer and Ziban Gedena property licenses are located in Tigray Province in Northern Ethiopia. The property is located approximately 350 kilometres North West of the administrative centre of Mek’ele, which is 780 kilometres from the country capital, Addis Ababa. 

The closest population centre to the Project is the town of Shire with a population of 47,284 (2014 estimate) with access to both a skilled and unskilled work force. 

The North Terer and Ziban Gedena property licenses is comprised of two (2) distinct exploration blocks under one (1) single exploration permit.

The North Terer and Ziban Gedena property licenses are dominated by meta-volcanic greenstone rocks of the Adi Hageray and Adi Nebrid blocks, Neoproterozoic rocks of the Arabian-Nubian Shield which covers parts of Yemen, Saudi Arabia, Jordon, Israel, Egypt, Sudan, Eritrea, Kenya, and Ethiopia. 

The permit area is underlain by the same units of volcanic and volcano-sedimentary rocks as the Asmara VMS district, located approximately 100km to the northeast. 

Mineralization is expected to occur alongside silicification, chloritization, epidotization and oxidation. Extensive gossanous outcrops are very often indicators of mineralization in the district, due to the potential VMS setting.  

The North Terer and Ziban Gedena property licenses provides the setting for classic structurally controlled, orogenic gold deposits and polymetallic volcanic massive sulphide deposits. Host rocks are highly variable for orogenic gold as mineralization is structurally controlled and include volcanic rocks, sedimentary rocks, and granites. VMS deposits tend to form in clusters and the discovery of both the Asmara deposit and the Harvest property indicates that further VMS occurrences should be encountered on the belt. 

The North Terer and Ziban Gedena property licenses is located on the edge of a very active gold and base metal exploration region. Companies such as Sun Peak Metals Corp., East African Metals, Newmont and Altau Resources Ltd. are exploring in the immediate vicinity to the property area. 


Between the two blocks of the North Terer and Ziban Gedena property licenses lies the Harvest Project (East African Metals) which hosts the Terakimti VMS deposit. Initial mineral resource estimates produced by David Thomas, P.Geo. in 2014, indicate an Indicated resource that includes a near-surface oxide layer containing 114,000 ounces of gold, with additional silver.

Sun Peak Metals, whom border the southern and western boundaries of the Flyer block have conducted VTEM airborne surveys and minor drilling with encouraging follow up targets (Sun Peak Metals News Website). 

The North Terer and Ziban Gedena property licenses represents an early stage exploration program. Little work has been completed to date on the licence, but a considerable amount of work has been completed on adjacent licences, all of which show strong potential for both polymetallic VMS and orogenic gold mineralisation. 

The permits are in close proximity to areas of mineralisation being explored by other companies and the prospectivity of the areas is good. It is recommended that a staged exploration approach is conducted when the tenements are granted, results of the first year of work should be assessed and if positive further exploration into years two and three should be recommended.

A 3-year recommended work program includes further desktop study, wide spaces soil sampling, geological mapping, and interpretation of these results at an expected cost of USD$3,080,000. There are planned annual reviews after years one and two in order to ensure the positive course of action and modification to any plans due to the nature of results received. 

History

Makeda Mining PLC (A joint venture between Beijing Donia Resources Co., Ltd, ‘’Beijing Donia’’, and Ezana Mining Development PLc. ‘’Ezana’’), worked the southernmost area of the Flyer block in 2011, as well as a local company called Haga Mining PLC (pre-2011). In addition, Donia Mining Plc worked a small portion of the Ziben Gedena block, albeit for aggregates, before their licence was terminated in 2011. There has been no historical exploration on the permits post 2011. 

Earliest reconnaissance stream sediment sampling in the Terer (Flyer) area was carried out in 1969 by a team of geologists from the Ministry of Mines, this was followed up with regional mineral prospecting work including soil sampling and rock chip sampling. Detailed geological and geochemical surveys have been completed in 1970 and 1972 (Levetti et al., 1970; Wolde‐Ruffael and Watters, 1970a, b; Hagos, 1972).

Since the 1970’s most work specifically in the Terer region has been focused on the Adi Ekele VMS occurrence (located 2km to the south of the companies North Terer block). Work on this prospect has including prospect scale mapping, trenching, airborne geophysics, and drilling. None of this work presented extends into the Flyer block held by PAL, despite the area being along strike from Adi Ekele. 

In 1997, regional mapping was completed on the Axum sheet, which includes the Flyer and Wing blocks, by the Ethiopian Institute of Geological Surveys (EIGS, Tadesse T.et al., 1997).