Metals of Africa Limited (ASX:MTA
) is an Australian resources company, focused on metals exploration, with an objective to create shareholder wealth via the discovery and development of mineral deposits. MTA registered on the ASX in October 2012 and is presently exploring and advancing projects in Mozambique and Tanzania. The company's primary focus is its Rio Mazoe base metal project in Mozambique and the Tanga copper-gold project in Tanzania.
An already significant license holder, MTA is in the process of acquiring almost one million hectares of highly prospective licenses which are expected to be granted within the next 12-24 months. These areas were identified by our in-country team of expert geologists utilizing detailed geochemical and geophysical data sets – some proprietary to the Company. This has given MTA an immense first-mover advantage in two countries already noted for their significant role in global production of beryl, ilmenite, tantalum and zircon (Mozambique) and gold and base metals (Tanzania).
A maiden drilling program at the 100% owned Rio Mazoe base metals project in Tete - Mozambique, intersected high grade lead / zinc / silver / copper mineralization (grading 20.74% combined Pb/Zn/Ag/Cu over 1m). The remobilized high grade mineralization, in conjunction with highly prospective geology and geochemistry has confirmed the strong potential for the project area to host a Broken Hill Type (BHT) deposit, similar to Broken Hill in New South Wales in Australia which is one of the largest massive sulphide deposits on earth.
The Tanga Copper-Gold project in Tanzania boasts a significant 6km long un-tested copper gold anomaly, identified during a regional soil sampling program. Previous exploration work on a smaller soil anomaly at Tanga included a 1500m RC drilling program which intersected up to 3g/t Au and 0.67% Cu.
The Company’s main focus is on the highly prospective Rio Mazoe and Tanga projects, with a secondary focus being on-ground assessment of our greenfields pipeline of licenses as they are progressively granted. Our significant in-country presence enables us to quickly identify and assess new opportunities as they arise.