Tuesday, 14th March 2006 (2647 views)

Newly formed gold miner Aflease Gold has been given the green light to begin exploration work in Namibia and South Africa.

The Namibian government has handed Aflease an exclusive prospecting license to start hunting for gold and other metals in a 65,685-hectare area of land in Outjo.

The firm is hoping to strike it lucky after various features consistent with iron-oxide copper/gold (IOCG) were identified in the area – which was already the subject of exploration efforts in the 1980s and 1970s.

A comprehensive exploration programme will see Aflease searching for IOGC deposits in the property's granitic rocks.

Keen to have more than one iron in the fire, the mining newcomer has also secured new-order prospecting rights on three territories in South Africa, which Aflease CEO Neal Froneman also described as "significant".

"Each of these prospecting licences in Namibia and the prospecting rights in South Africa are significant, as they effectively mean that we can set to work exploring the properties and assessing the level of endowment," he said.

"It is significant that we now have the go-ahead for our exploration project in Namibia, which represents the first step in growing Aflease Gold from a purely South African company into a regional player."

 

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