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 Project in Mozambique which is a Broken Hill Type (BHT) target prospective for lead-zinc-silver. In Tanzania the Company’s core focused on the Mkindu Project which represents an Olympic Dam/IOCG type target.
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. A recently completed second drill program at the Rulio prospect intersected BHT mineralisation and alteration indicative of highly prized BHT target. Additional drilling at this prospect is required to test the BHT fold hinge model.
The Mkindu Project in Tanzania boasts a significant aerial magnetic anomalism, indicative of a conceptual Olympic Dam IOCG style target. The anomalism is strongly supported by detailed geophysical survey and colonial era mapping which confirm breccia vents along with encouraging alteration and mineralogy. The Company intends to drill test the Mkindu targets in 2014.
The Company’s main focus is on the highly prospective Rio Mazoe and Mkindu projects, with a secondary focus being on-ground assessment of our 100% owned project pipeline of licenses in Mozambique and Tanzania. Our significant in-country presence enables us to quickly identify and assess new opportunities as they arise.