African Eagle Resources plc

Projects > Projects Overview > Zambia | Tanzania | Mozambique | Uranium Projects

Projects Overview:

African Eagle is a gold and copper explorer and emerging producer with a portfolio including five advanced projects, and an extensive portfolio of exploration assets in the minerals-rich and stable eastern and southern African countries of Zambia, Tanzania and Mozambique.

Our principal advanced projects are Mkushi Copper Mines, the Miyabi Gold project, the Ndola and Mokambo Copper projects and the Sasare Eagle Eye (IOCG) project.

Projects in Zambia:

Mkushi Project

Mkushi Copper Mines in central Zambia are former open pit and underground mines which African Eagle is developing in joint venture with CGA Mining Limited. A pre-feasibility report dated January 2008 indicates that the project will be profitable. The definitive feasibility study is scheduled for completion in Q4 2008.

Mokambo Project

The Mokambo Copper Project is situated in the Zambian Copperbelt, 90km northeast of Ndola, and forms a narrow strip running along the border between Zambia and the Democratic Republic of Congo (DRC). The project area, which is a 50-50 joint venture between African Eagle and Copperbelt Minerals, contains significant known copper deposits within the Lower Roan geological unit.

Ndola Project

The Ndola Copper Project is located in the southern part of Central African Copperbelt in Zambia. In August 2006, African Eagle signed an earn-in agreement under which Freeport McMoRan (then Phelps Dodge) can acquire up to 70% of the project. The partners are collaborating on a systematic exploration programme at Ndola funded by Freeport.

Sasare Eagle Eye Project

The Sasare Eagle Eye Copper-Gold Project, which lies in eastern Zambia, 450km from the capital city, Lusaka, contains a large iron-oxide-copper-gold (IOCG) system and other mineralised targets including Karoo-hosted uranium and iron ore.

Lunga Project

The Lunga Copper-Gold Project is located in the Lunga Basin in Central Zambia, approximately 320km northwest of the capital city, Lusaka and 200km southwest of the Zambian Copperbelt. The area contains multiple targets including copper-gold, zinc and calcrete uranium mineralisation.

Projects in Tanzania:

Miyabi Project

The Miyabi Gold Project, in the Lake Victoria Goldfield of Tanzania, was discovered by African Eagle’s own geochemical prospecting team. Although African Eagle has drilled only part of the system to date, it has defined a JORC-compliant resource of 520,000oz of gold. The Miyabi project is currently subject to an earn-in option agreement under which Randgold Resources Ltd can earn an interest of up to 65%.

Rupa Project

The Rupa Gold Project lies in the Musoma region of the Lake Victoria Goldfields (LVGF). African Eagle is mapping and evaluating shear-zone hosted gold mineralisation in the project area, known from past drilling and artisanal mining. Results so far are promising.

Igurubi Project

The Igurubi Gold Project, located in the south eastern Lake Victoria Goldfields, contains several parallel gold-bearing shear zones in a contact between granites and greenstone rocks.

Dutwa Project

The Dutwa Gold, Nickel and PGM Project is located in the Kilimafedha greenstone belt of the Lake Victoria Goldfields (LVGF), 100km east of Mwanza. Though primarily a gold project, it exhibits excellent potential for the discovery of nickel and platinum group elements.

Zanzui Project

The Zanzui Nickel and PGM Project covers a strongly layered circular ultrabasic complex in the eastern Lake Victoria Goldfields. Soil geochemistry and geophysics have identified promising target areas.

Projects in Mozambique

During 2007, African Eagle applied for 11 licences in three new project areas situated in Mozambique. These have now all been granted. The Niassa project in north-west Mozambique adjacent to Malawi is prospective for copper, nickel and PGE mineralisation, and the Sena and Tambara project areas in central Mozambique are prospective for gold and uranium.

Work on the Fingoe Project in western Mozambique is continuing with partner Pan African Mining Corporation, The Fingoe Belt is a tectonised Proterozoic volcano-sedimentary sequence intruded by granitoids. Skarn-like copper-gold mineralisation and iron occurrences are reported in the area, suggesting that the area may be prospective for intrusion related or IOCG type mineralisation.

The Majele Project lies in the Alto Ligonha pegmatite belt and was recently optioned to Pacific Wildcat Resources Corporation, which can acquire an 80% interest in the project by exploring for tantalum, tin and niobium deposits.

Uranium Projects

African Eagle’s Uranium Division holds the uranium rights to eight targets in Tanzania, Zambia and Mozambique, including calcrete and playa type deposits in Neogene to Recent sediments, sandstone hosted deposits of Karoo and Cretaceous ages and vein deposits in Ubendian basement rocks.