In the past year, the Handeni Gold Inc (OTC-BB: HNDI) team has made a strategic decision to focus exclusively on its two highly prospective gold properties, namely, the recently purchased Handeni Gold Project and the Mkuvia Alluvial Gold Project, both located in the Republic of Tanzania.
The 800 square kilometer Handeni Gold Project will be explored under the guidance of Dr. Reyno Scheepers and Mr. Bernard McDonald, MSc. Although gold mineralization was described in the area since the early 1950’s, it was only recently that artisanal miners focused on the Handeni area following the successful exploration for gold in the Lake Victoria district. These efforts led to the discovery of the Magambazi Hill gold mine. The attention of the exploration community came to focus on the Handeni district by successful drilling projects conducted on Magambazi Hill and its surroundings.
The 380 square kilometer Mkuvia Alluvial Gold Project is currently being developed under a joint venture agreement of which Handeni Gold Inc retains a 25% carried interest. Gold mineralization in the area was first discovered by Geological Survey of Tanzania following a country-wide geochemical surveying program in 1990’s. Small scale artisanal mining activities commenced in 2002 by local miners, aimed at exploring and mining gemstone. However, a significant amount of gold was recovered from the concentrates and thus turned the area from gemstone to alluvial gold mining.