MATALA GOLD PROJECT
The Matala Gold Project comprises 14 exploration tenements for 1,967sqkm located in the South Kivu Province, Democratic Republic of Congo
In August 2016, Panex entered into a Farm-In agreement with Afrimines SARL to acquire up to 90% interest.
The Matala Gold Project is located on the north-western edge of the Kibaran mobile belt. The Kibaran mobile belt and adjacent Tanzanian Craton host more than 70Moz of gold resources, currently being mined by Banro, AngloGold Ashanti, Barrick and Barra, in a well renowned, world class gold province.
The Kibaran belt which hosts the Banro deposits and the MatalaGold Project forms the westernmost of three roughly synchronous orogenic belts in Central and Eastern Africa, namely the Irumide belt in Northern Zambia and the Lurio belt in Mozambique. The belt’s evolution is complex, with multiple periods of rifting and compression between 1,400 and 950Ma and the emplacement of numerous syn-orogenic granites, some of which are known to be directly related to gold mineralisation.
The Matala Gold Project is anomalous within the belt as it is occurs along a break between the south-western and north-eastern portions of the belt. From Maniema and Kivu there exists a basement rise of the Lower Proterozoic Rusizian Series rocks which occur within the Matala licence area continuing to the south-east and linking with the Ubende shear into Tanzania, cross-cutting the Kibaran belt creating two segments. Very little exploration has been conducted on this part of the belt outside the Twangiza-Namoya corridor and the Matala Project.
Stratigraphy in the northern part of the Matala Project area comprises northeast trending Kibaran schists and amphibolites overlain by Burundian sediments. The entire area is extensively intruded by granites. The southern part which hosts the Kanana prospect comprises a schistose package of lower to middle greenschist facies metamorphic rocks, mapped as Rusizian (probably lower Rusizian) extensively intruded by granites along a northwest-southeast corridor corresponding to the Rusizi-Ubende belt.
A general description of the Ruzizi Formation from the base upwards comprises, phyllitic and arenaceous schists, phyllites, conglomerates and breccias. The overlying Burundian comprises arkoses, shales and clastic sediments.
Structural/stratigraphic controls within the Matala Gold Project are evident by the linear nature of soil anomalies which are aligned sub-parallel to the regional, north-west trending Rusizian structure fabric. Interpretation implies at least two structural controls on mineralisation, these include:
- saddle reefs associated with isoclinal folding where mineralising fluids pond at the crest of the fold axis and lead to the development of auriferous quartz veins through fluid channelling, focussing and ponding below less permeable sedimentary layers.
- in support of mineralisation hosted within an isoclinal anticline at Kanana, symmetrically flanking the anomaly are possible leg reefs or spur vein structures which form stratiform gold mineralisation parallel and adjacent to the fold axis along strike parallel shear zones.
Two styles of mineralisation have been identified at Kanana during channel sampling and geological mapping, both are associated with intense silica, carbonate and chlorite alteration:
- the first comprises brecciated, ferruginous quartz veining <10 cm up to 5 m wide containing <1% pyrite. The veins are generally aligned to layering and foliation in outcrop (quartz vein-hosted gold mineralisation).
- the second style comprises strongly silicified, foliated, schists containing 1 to 5% pyrite commonly containing bedding parallel quartz veins 1 mm to 5 mm thick (disseminated and stock work vein-hosted gold mineralisation).
Both styles of mineralisation are interpreted to be associated with saddle reef and stratiform leg reef gold mineralisation which will be targeted in the planned drilling program.
Historic exploration across the Matala Gold Project undertaken by Afrimines in 2010 identified numerous geochem anomalies which formed the basis of follow-up regional exploration undertaken by Regal Resources Ltd (ASX:RER) between 2011 and 2013.
Regal’s exploration focussed on the two highest priority targets, Ngoy and Matala with 51 holes drilled at Ngoy for 8,768m of diamond core and a JORC 2012 compliant, inferred resource of 2Mt at 3.3g/t for 213,000oz Au estimated by CSA Global, Perth, Western Australia.
Exploration at the Matala Project consisted of soil, rock chip, geological mapping and channel sampling with Kanana advanced to the drilling stage following the delineation of a 3km long gold-soil anomaly (>100ppb Au) and in-situ, high-grade channel sample results coinciding with the fold axis of a positively identified anticline.
Rock chip sampling of outcrops across the Kanana drill target have further returned a number of samples >1g/t over a broad area in support of the soil anomaly and channel sample results. It is interpreted the anticline outcrops in the southeast, gently plunges and continues towards the northwest.
The Mineral Resource estimate undertaken at Ngoy was based on data obtained from the 51 diamond drill holes drilled at three targets between March 2012 and May 2013. However, only drill holes from the Kadutu and Nyamikundu prospects were included in the Mineral Resource estimate.
Mineral Resource estimate for Ngoy.
|Deposit||Classification||Tonnes (Million Tonnes)||Au (g/t)||Au Oz. (‘000s)|
|Kadutu||Inferred Mineral Resources||1.8||3.2||186.9|
|Nyamikundu||Inferred Mineral Resources||0.2||4.3||26.5|
|Combined Total||Inferred Mineral Resources||2.0||3.3||213.4|