Joumbira Zinc Project, Namibia
- Tanga has majority earn in rights to Joumbira, an advanced zinc-lead-silver project
- Joumbira has the potential for a large, high grade zinc-lead-silver orebody
- Vastly underexplored licence covering 210km²
- Significant exploration upside for Zn, Pb, Ag, Co, Cu, Sn, W
- Located in the Central Damaran Orogenic Belt – major mineralised system
- Secure and supportive joint venture partner – Epangelo Mining Company (Namibian Govt.)
- Located in a mining friendly jurisdiction, major metal producer and excellent infrastructure
- Very little modern geochemical or geophysical exploration carried out since 2002.
- Historical drilling focused on one area
About the Joumbira Zinc Project
Joumbira is an advanced, zinc-lead project, located in the highly prospective and well endowed Damaran Belt, Namibia.
The Project covers a total area of 210 km² on a granted licence located in central Namibia, approximately 190km by sealed road from the capital, Windhoek and 400km from the port of Walvis Bay. The Project has excellent infrastructure with the major service town, Otjiwarongo located 50km to the north with existing grid power and the national railway line in close proximity.
Joumbira occurs within a major metallogenic belt (defined by regional magnetic data) stretching for over 300km southwest to Navachab (27Mt @ 2g/t Au) and northeast to Otjikoto (29Mt @ 1.5g/t Au) and the Kombat district (16Mt @ 2.6% Cu & 1.5% Pb) near Tsumeb (74Mt @ 4%Cu & 10%Pb).
Joumbira is held in a secure joint venture with Epangelo Mining Company, a private company with the Government of the Republic of Namibia as the sole shareholder. The company’s primary objective is to be a premier local, regional and global mining asset management company.
The Project has had no modern day exploration, with the majority of historical exploration undertaken during the late 1970’s and some limited follow up work in 2002.
Tanga has an option to acquire an update on the progress of the proposed acquisition of Coldstone Investments (Pty) Ltd, which has a joint venture agreement with Namibian government owned, Epangelo Mining Company (Pty) Ltd to earn in up to 80% (with the ability to increase to 90%) of Joumbira.
Namibia is a low risk, politically stable, mining friendly jurisdiction with an established mining industry, including Rio Tinto, B2Gold, Vedanta and NAMDEB.
Exploration potential at Joumbira
Immediate target area and wider project area remain under explored
Historical exploration focused on the immediate target area, with drilling primarily focused on the North shoot. Further exploration is required to test North shoot and Kahlenberg east and west shoots and Central and South shoots.
Significant upside remains for Zinc, Lead, Silver, Cobalt, Copper, Tin, and Tungsten. There is further regional exploration potential over the wider project area which remains under explored.