Already a force in Ethiopian mineral exploration, St. Genevieve Resources (TSE) has been granted a large new concession with placer gold potential.
The Serkole concession, situated in Ethiopia’s Benishangul-Gumuz region, covers 524.9 sq. km. It lies in a mobile Proterozoic greenstone belt composed of metasediments, volcanics and intrusives within Archean gneisses.
The property includes a river valley in which artisanal miners have recovered placer gold in the past.
Primary gold mineralization is known to exist on the Serkole, with surface showings running up to 20 grams gold per tonne in veins longer than 125 metres.
St. Genevieve must begin exploring the concession within 45 days of signing with the government and spend at least $1.6 million during the first three years.
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