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Eureka Project (Australia) | British King Project (Australia) | Bahi/Manyoni Project (Tanzania) |
Central Iron Ore (CIO) has an agreement to earn a 100% working interest in seven tenements in the East Africa Republic of Tanzania; which are prospective for uranium and gold, as well as a Joint Venture with Pacific Corporation of East Africa to earn into a further five tenements.  Bahi / Manyoni Background: The Bahi Swamp catchment area is a dry lake covering over 1,000 sq km, and incorporates an extensive closed drainage system that has developed over 27,000 sq km of weathered uranium rich "hot" Archaean granites. This area has been recognized as an important uranium province since the 1950's when uranium mineralisation was first intersected in a drill hole (2.3 kg/t U3O8) located near the centre of Bahi Swamp. This intersection is located on International Gold Mines Bahi tenements. This view has since been reinforced by the discovery of the Manyoni C1 uranium deposit where recent announcements by Uranex NL (ASX: UNX) that they had achieved a 15 million pound JORC compliant U3O8 uranium resource for the Manyoni C1 project area, and the successes of Central Iron Ore have only reconfirmed the potential of the Bahi Swamp catchment area to host calcrete / playa, as well as roll front style uranium deposits. These deposits have occurred in relatively small playa lakes, located to the North West of Lake Bahi, these uranium deposits have occurred relatively close to the surface in this area. The Lake Bahi system is many magnitudes larger, and is the final repository of all the uranium rich fluids draining from the "hot" Achaean granites. The potential exists in Lake Bahi for both "calcrete/playa", and more importantly "roll front" uranium deposits. The uranium occurrences in Lake Bahi have generally been intersected between 30 meters and 70 meters in depth in drilling by previous explorers, and IGL believes it has a very good chance of intersecting the higher grade mineralization on this centrally located tenement. The Bahi / Manyoni Swamp tenements At Bahi / Manyoni, the Company holds in excess of two thousand, five hundred square kilometres of tenements, two tenements abut the Western boundary and one abuts the Southern boundary of the tenement that holds the Uranex 15 million pound Manyoni C1 JORC compliant uranium resources. Since the Company announced in May that field work had commenced, IGL field teams have continued to carry out detailed radiometric ground surveys and surface sampling on the tenements using the RS-125 Super Spec spectrometer to gather follow up information associated with the reprocessed radiometric data that the company had previously acquired. One thousand four hundred and thirteen line kilometers of ground radiometrics have been completed during the 2008 field season. Line spacing's were done at 250 meter intervals and internal line reading spacing's were generally kept to a magnitude of 50m to 100m intervals. These ground radiometrics have established some major uranium mineralized anomalies in the Bahi Manyoni region, including one that is approximately ten kilometers in length by two kilometers in width. This anomaly has produced spectrometer readings ranging up as high as 2.4 kg/t eU3O8 and has a massive number ranging from 100ppm eU3O8 up to 800ppm eU3O8. A beneficial interest to the company in discovering such an exciting surface uranium mineralized anomaly, is if it can be proven to become economic in this area, is the amount of accessible infrastructure located in close proximity to these anomalies, i.e. the main government railway line between Dar es Salaam and Tabora runs through this tenement, as well as mains grid power, and the main high way between Dar es Salaam and Mwanza. |
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| Southern Tanzania The Company also holds three uranium tenements in Joint Venture with Pacific Corporation of East Africa in Southern Tanzania. One tenement lies 120 km to the south of Songea on the Mozambique border. The remaining two tenements are near Tunduru, all three tenements are located in the Ruvuma uranium province in Southern Tanzania. This region, targeted by the Company, is largely made up of sandstones, mudstones and conglomerates of the Karoo basins. Uranium mineralisation is recorded throughout the Karoo basins from the Kariba project in Zambia, to the Kayelekera uranium deposit in Malawi and the Ntoya and Madabba deposits in Tanzania. Northern Tanzania The company also holds three gold tenements at North Mara in Northern Tanzania and East of Lake Victoria on the Kenyan border. The North Mara gold tenements are located in an area predominantly within the multi million ounce gold producing Mara greenstone belt. Within this belt lies the multi million ounce North Mara Gold Mine (Barrick Gold Corp) and the Buhemba Gold Mine with a stated production of 80,000 ozs au per year. |
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