Award of New Gemstone Licence

RNS Number : 1991A

Obtala Resources PLC

31 July 2008

 



31 July 2008

OBTALA RESOURCES PLC ('Obtala' or the 'Company')

Award of New Gemstone Licence (Ruby)

Obtala Resources Plc is pleased to announce the grant of a new gemstone licence at Matombo, in Morogoro District of Tanzania, East Africa.

The licence granted allows Obtala to carry on such prospecting operations and execute all works as are necessary for a period of 24 months effective from 18 July 2008. The licence covers an area of 2.77km2 and is 100% owned by Mindex Invest Ltd, a subsidiary of Obtala.

The host rocks in the Morogoro region are metamorphosed ultramafic rocks of the Usagaran supergroup which are known to be endowed with rubies, and various species of coloured gemstones.

Frank Scolaro, Chairman of Obtala, commented that 'The Mining Act of Tanzania encourages the development of modern gemstone mines and together with our emerald licences in Lake Manyara (covering 6km2 production licences), we look forward to building a quality gemstone business in Tanzania in the near future'.

Contact:

Frank Scolaro – Chairman Simon Rollason – Chief Geologist www.obtalaresources.co.uk	[phone]
Obtala Resources plc
Ray Zimmerman/Jonathan Evans	[phone]
Zimmerman Adams International Ltd - Nominated Adviser and Broker

 

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