Acquisition of Gold License

RNS Number : 5311L

Obtala Resources PLC

13 January 2009

 



13 January 2009

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

Grant of New Gold Licence in Tanzania

The Board of Obtala Resources, the AIM quoted mineral exploration and development company is pleased to announce it has increased it's gold exploration licence area within the world renown Lake Victoria Goldfields by a further 39.97km2. 

The licence, 100% owned by Mindex (BVI), a subsidiary of Obtala, is located 25km south of the multi-million ounce, Barrick owned Buzwagi Gold project in the Kahama district of Northern Tanzania.

Licence Details

Licence	Holder	Interest	Status	Surface Area	Licence Expiry
Kahama PL4789/2007	Mindex	100%	Prospecting	39.97km2	20th October 2010

The Kahama licence is located 180km south of Mwanza, Tanzania's 3rd largest city situated on the shores of Lake Victoria and is in close proximity to tarmac roads, fresh water and electricity supplies. 

Contact:

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

 

END

 

 

MSCZGGMMLFRGLZG