The Handeni Gold District in eastern Tanzania contains numerous artisanal gold discoveries over several hundred kilometres. The recent significant gold discovery by Canaco Resources Inc. (CAN -- TSX.V) on their "Handeni" Project has garnered a lot of attention for the Handeni Gold District and has transformed the area into a major gold province. Brookemont Capital's (BKT - TSX.V) management has been successful in establishing a significant land position contiguous to the to the North East of Canaco Resources' (CAN - TSX.V) recent "Handeni" gold discovery which recently reported drill intercepts of 48.6 metres of 14.81 g/t gold (December 6, 2010). Throughout 2010 Canaco's share price has risen from a low of $0.36 to a recent high of $6.45.
Brookemont Capital's (BKT - TSX.V) "Handeni North" Gold Prospect consists of 63.4 square kilometers bordering Canaco's "Handeni" gold discovery. Brookemont's property is approximately 175 kilometres northwest of Dar es Salam and 35 kilometres south of the town of Handeni. A work program is now underway on Brookemont's "Handeni North" prospect, consisting of line cutting, geological mapping, setting up of IP and mag surveying. This first phase will also assist in determining the highest priority drill targets on the prospect.
Nearby mining operations in the area are done by hand and through the use of explosives. Ore is sorted and hand-cobbed on site then transported to mill sites. The neighboring mill site consists of seven small mills operating independently. Ore is milled, concentrated by hand, and recovered through the use of a sluice box and mercury.
The geology of this region represents a non-traditional exploration environment dominated by high-grade metamorphic (granulite to amphibolite facies) rocks which are now thought to be overprinted Achean rocks. Canaco Resources' neighboring "Handeni" gold discovery contains a definable stratigraphic sequence with original rock types (pre-metamorphism) including ultramafic to felsic flows and volcaniclastic rocks, black shales and quartz-rich sedimentary rocks. Upper amphibolite facies metamorphism has created a sequence including a variety of rocks including feldspar-quartz biotite gneiss and pegmatite, kyanite and garnet pelite to psammopelite, amphibolites, and pyroxene-olivine ultramafic rocks on Canaco's neighboring property.
Canaco is currently undergoing a major diamond drilling campaign on their "Handeni" project contiguous to Brookemont's "Handeni North" prospect. Canaco's recent diamond drill intercepts from their "Handeni" project include a 48.6 metre intercept grading 14.81 g/t gold (December 6, 2010).
Canaco Resources Inc. DECEMBER 2010 Handeni Drill Results:
