Junior Patrician Gold Mines (ASE) has entered into a
joint-venture to explore certain of its gold properties in
Tanzania.
The agreement in principal was reached with South African-based JCI and applies to the Ikungu, Bunda and Kisamwe prospects.
The past-producing Forest Reef mine on the Ikungu property will likely be subjected to geochemical sampling, a magnetic survey and diamond drilling. Patrician has already drilled eight holes around the old mine, one of which intersected 0.81 oz. gold per ton over 15.7 ft., and the other, 0.35 oz. over 12 ft.
The Bunda and Kisamwe prospects will undergo mapping, geochemical sampling and ground magnetic surveys.
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