Australian Mines (ASX: AUZ) has been granted an exploration licence by the Nigerian Government for the high priority Anka Tenement where soil sampling and mapping of gold has commenced.
The award of this tenement in the prospective West African country sets the scene for more detailed soil sampling, geological mapping and possible follow-up drilling by the company.
Nigeria has an extensive region of lightly explored highly prospective schist belts regarded as similar in geology to the known gold producing countries of Ghana, Burkina Faso and Cote d’Ivoire to the west.
There has been little systematic modern day exploration activity in Nigeria until recently.
The presence of artisanal working and historic British workings indicate that gold exists in the region.
Highlighting the prospects of the tenement, nine grab samples from previous visits returned results greater than five grams per tonne (g/t) gold and all were anomalous with gold.
High grade samples returned 139g/t gold, 21g/t gold and two others at 15g/t gold with most of these samples returning 0.1% copper and 1% lead.
A total of 24 grab samples have been taken from the tenement from outcrops and small pits over a 1,400 metre by 900 metre area.
The company will plot assays received in the coming months on a fully digital database, contoured and then drill targets selected and prioritised based on the best results received.
Activity at the tenement has increased with the company’s two geologist team plus their support staff are in the field to extend the soil sampling and geological mapping program.
Australian Mines' tenement portfolio covers sections of the prime schist belt over an area of 2,645 km2 of approved Exploration Licences (50 ELs) and a further 1,375 km2 of Exploration Lease Applications (14 ELAs).
The company holds 12 exploration licenses in the Anka region that cover 446 square kilometres with six exploration licence applications extending a further 322 square kilometres.
The new tenement is located within 400 kilometres of Nigeria’s capital, Abuja, and within 300 kilometres of the major cities of Kano and Kaduna.