Gladiator Resources Ltd (ASX:GLA) reports that all seven exploration licenses applied for by subsidiary Zeus Resources (T) Limited (Zeus Resources) covering over 1,764 sq km of highly prospective exploration tenements located in Tanzania, East Africa have now been granted.
“We are pleased to see that the seven Tanzanian exploration licenses applied for by Zeus have now been granted,” Gladiator Resources Chairman, Ian Hastings, said.
“This paves the way for Zeus’ on the ground team to commence planning initial exploration work and to secure and examine the significant amount of data generated on these projects by their historical owners. The Company is excited by this extensive portfolio and expects to progress exploration as soon as possible.”
Gladiator recently completed its acquisition of all the issued shares (subject to regulatory approvals) in Zeus Resources which held seven Tanzanian Exploration Licenses under application for projects situated in Northern Tanzania (Minjingu), and Southern Tanzania (Mikuju, Liwale, Foxy and Eland).
Following funds advanced by the company by way of secured loan, Zeus Resources has now been notified by the Tanzanian Mining Commission that all seven applications have been granted and that the Zeus is now the registered holder of Exploration Licenses PL/17723/2021, PL/17724/2021, PL/17783/201, PL/17785/2021 PL/17793/2021, PL/17890/2021 and PL/17891/2021.
The Tenements, which are prospective for several commodities including Gold and Uranium, have previously been owned by Uranium One, Uranex, Mantra Resources, Western Metals and Uranium Resources and substantial data is believed to exist in respect to most of the tenements based on historical work completed by previous owners.
Minjingu – (Uranium, Phosphate, Rare-Earths and Gold) 100% Gladiator – Minjingu covers a total area of 296.9 sq. km and is situated in northern Tanzania, 106km southwest of Arusha the main administrative city in the area and 520km northwest of Dar es salaam.
The Minjingu Project area possesses great infrastructure such as quality tarmac roads, power lines, airport services via both Arusha and Kilimanjaro International airports and ample water. The Project is part of the East Africa Rift Valley on the eastern margin of the Tanzania craton.
Liwale – (Uranium) 100% Gladiator – The Liwale project covers 195 sq. km and is located outside of the Nyerere National Park and was previously owned by Mantra Resources and Uranium One. Arrangements are underway to secure historical exploration data.
Mkuju – (Uranium) 100% Gladiator- Mkuju tenements cover 678.73 sq. km including well known uranium anomalies of Grand Central, Likuyu South and Likuyu North. The tenements at the closest point are less than 30km from Uranium One’s Mkuju River Project. The tenements were previously owned by Uranex Limited, Western Metals and Mantra Resources with arrangements being made to acquire historical data.
Foxy Project – (Uranium) 100% Gladiator – The Foxy Project covers 299.70 sq. km and was previously owned by Western Metals and is known to contain uranium mineralisation similar to the Mkuju region. At its closest point Foxy is approximately 25km from the Mkuju tenements. The company is arranging to acquire historical data.
Eland Project – (Uranium) 100% Gladiator – The Eland Project covers 294.70 sq. km and was previously owned by Western Metals and is known to contain uranium mineralisation. The company is arranging to acquire historical data.
Zeus’ on ground operations team in Tanzania is already securing and examining available historical data in respect to each of the tenements to fast-track finalisation of exploration workplans.
Many of the tenements are well known and have been the subject of substantial exploration expenditure by past owners.
Once Zeus is confident that it has obtained the bulk of the available data and its technical staff have managed to complete their analysis Zeus will prioritise exploration targets, finalise workplans and complete budgets.
For further information please visit: https://gladiatorresources.net/