JOHANNESBURG (miningweekly.com) – South Africa-based AngloGold Ashanti and its joint-venture (JV) partner plan to accelerate gold exploration activity at the Hodine concession, in Egypt, the gold major said on Wednesday.
The company is exploring for gold in the Middle East and North Africa in a JV with Thani Emirates Resources.
AngloGold said systematic exploration using a variety of advanced and integrated exploration techniques had resulted in the discovery of a “potentially significant” gold mineralisation at Hodine, which is located in the Eastern desert of Egypt near Shalatyne.
Visible coarse gold is present in several of the mineralised intercepts and as a result, screen fire assays over these intervals were in progress.
The JV partners are also exploring the Wadi Kareem concession, near El Quseir, in Egypt.
In Eritrea, the alliance was granted two exploration licences in March last year. Since then, it has established an office in Asmara and had completed a 10 000-km heli-borne geophysical survey over these licences.
The companies also entered into an agreement with Stratex International in October to explore for epithermal gold deposits in the Rift Valley and Djibouti.
In Saudi Arabia, AngloGold and Thani would submit exploration licence applications for a 3 000 km2 area before the end of the month.
“Upon grant of these applications, the strategic alliance will rapidly commence exploration using similar techniques that have been successful in Egypt and Eritrea,” AngloGold stated.