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HANDENI GOLD PROJECT
Handeni Gold Inc’ 100% owned Handeni Project is located in the Handeni district, within theTanga region of the Republic of Tanzania. The project area is located approximately 170 kilometersnorthwest of Dar Es Salaam, 30 kilometers southwest of the town of Handeni. Our project consists offour contiguous prospecting licenses covering 800 square kilometers that are directly adjacent to, andpartly surround, Canaco Resources’(V.CAN) 197 km2 Handeni Project which contains the Magambazigold find. Good quality gravel roads allow access to the area from Handeni which is currently being connected to the main paved highways.
The Handeni region in eastern Tanzania is becoming a major target for world class gold deposits.
Although gold mineralization was described in the area since the early 1950’s, it was only recently that artisanal miners focused on the area following the successful exploration for gold west of the region in the Lake Victoria Gold district.
Since the late 1990’s, several localities within the Handeni region, including the Magambazi gold occurrence, became the focus of small scale gold mining. In addition to Magambazi, several other high grade, typically visible gold prospects were located in the area now controlled by Handeni Gold Inc.
Recent attention by the exploration and mining community on the Handeni district has been mainly due to the successful drilling campaign conducted by Canaco Resources at Magambazi which has greatly expanded and improved on the original discovery.
Further impetus for gold exploration in the Handeni district followed from the work of the University of Western Australia, which found that the Proterozoic rocks in this region were instead Archaean in age and belonged to the same Nyanza superterrane which hosts the gold deposits within the Lake Victoria gold district. The study concluded that the Handeni Archaean age rocks may yield significant gold finds of world class scale. The excellent results obtained at Magambazi Hill and its surroundings seem to corroborate the high gold potential of the region.
At present Handeni Gold Inc has the largest land position within the Handeni region. The large claim area held 100% by Handeni Gold Inc has actually been the subject of extensive exploration since early 2005 by IPP Gold Ltd., the previous owner of the license area. Geological, geophysical, and geochemical information was collected during several extensive field seasons with the specific aim of identifying anomalous gold prospects in the developing area.
The extensive airborne radiometric and magnetic survey was done by the Council for Geosciences of South Africa and the interpretation of the data done by their geophysical experts. All geochemical analytical work was conducted by internationally accredited and independent laboratories – SGS Laboratories and Humac Laboratories, located in Mwanza, Tanzania.
This work has been detailed within the Technical Report on the Handeni Project in accordance with the provisions of National Instrument 43-101 (“NI 43-101″) of the Canadian Securities Administrators. The Technical Report has been filed on SEDAR at www.sedar.com and may be downloaded from the link at the top of this page.
The airborne geophysical survey effectively outlined the regions folded and faulted geologic terrain. Structural interpretation of the data outlined five prominent Northwest-Southeast trending shear zones that extend through the Handeni Gold and Canaco ground.
Canaco Resources (from the September 13th 2010 press release) announced that within theirlicense area regional soil sampling had outlined a total of two North-Westerly parallel trends of goldmineralization on their license area. The two trends, which include the Magambazi mineralization, aresaid to have a combined strike length of 15 kilometers.
Within the Handeni Gold Inc ground the northwest-southeast shear zones were tested by widely spacedsoil sample profiles. The results successfully outlined over 40 kilometers of linear gold mineralization along the Northwest-Southeast structures.
Work by both IPP and Canaco has shown that the anomalous gold in soils extends from the Canacoground onto the license held by Handeni Gold Inc.
The geology of this region is dominated by high-grade metamorphic (granulite to amphibolite facies)sedimentary and volcanic rocks which are folded about Northwest-Southeast trending axes.
Definable structures include ENE-trending thrust faults, NW-SE shear zones and fold axes and NE-SWtrending brittle and ductile fault zones.
At Magambazi gold mineralization is associated with arsenopyrie and pyrrhotite within siliceous amphibolite and silica-garnet schists with a folded sequence of gneissic rocks.
In at least three of the Handeni Gold Inc target areas, namely at Kwandege, Masala Hill, and Mjembe, gold is closely associated with a fine to medium grained garnet bearing amphibolite and within quartz/siliceous rocks and veins.
Handeni Gold Inc has planned an extensive exploration program for its Handeni License area that willinclude new airborne and ground geophysical surveys (magnetic, radiometric, EM and IP), geologicmapping and soil and rock sampling as well as over 8,000 meters of drilling.
Currently ongoing exploration work is focused at Kwandege and at Magambazi SouthEast, which are twoof the twelve target areas identified from the 43-101 report on our large land holding.
In February 2011, Handeni Gold Inc announced the discovery of a second parallel zone of gold mineralizationat Magambazi. The gold within the rock samples reached values as high as 16.8 g/t. Results from theanalysis broadly define a 600m long NW-SE trend of anomalous gold mineralization.
At Kwandege the geophysical and reconnaissance soil work described in the 43-101 revealed thatthe area covered by the Kwandege artisanal gold workings were only a small part of a much largerNorthwest-Southeast striking target that measures over 3 kilometers in strike length.
Exploration updates will be provided within a timely fashion throughout the year.