Marvel Gold Boosts Landholding to 380km² with $100K Licence Acquisition
Marvel Gold Limited has significantly increased its landholding in Tanzania’s Iramba-Sekenke Greenstone Belt, acquiring two new prospecting licences and applying for a third, setting the stage for a maiden drilling campaign.
- Acquisition of rights to two prospecting licences from Pangani Minerals
- Landholding at Hanang project grows from 230km² to 380km²
- New 110km² prospecting licence application approved by Tanzanian Mining Commission
- Drone-borne geophysical survey planned to commence by end of September
- Strategic expansion targets highly prospective gold mineralisation zones
Strategic Expansion in Tanzania
Marvel Gold Limited (ASX – MVL) has taken a decisive step to bolster its exploration presence in Tanzania by acquiring rights to two prospecting licence applications from Pangani Minerals Company Limited. This acquisition, executed through Marvel’s wholly owned subsidiary Cobra Resources Limited, adds 150 square kilometres to its existing Hanang project landholding, increasing the total area to 380 square kilometres within the highly prospective Iramba-Sekenke Greenstone Belt.
The deal, valued at US$100,000, reflects Marvel’s commitment to expanding its footprint in a region known for its gold mineralisation potential. The licences acquired lie directly south of the current Hanang tenements, strategically positioning Marvel to explore the so-called 'Boundary Zone'; an area interpreted as a fold nose adjacent to a major regional shear zone, which could be key to discovering economic gold deposits.
New Licence Application and Upcoming Survey
In addition to the Pangani acquisition, Marvel has applied for a further 110 square kilometre prospecting licence to the southwest of its existing holdings. This application has already been accepted by the Tanzanian Mining Commission, pending final regulatory approval. Once granted, this will further consolidate Marvel’s land position in the region.
To capitalise on this expanded footprint, Marvel plans to initiate a drone-borne aeromagnetic survey before the end of September. This advanced geophysical technique will cover the entire 380 square kilometre project area, providing critical data to guide the company’s maiden drilling program. The survey results are expected to sharpen the focus on prospective zones and enhance the efficiency of subsequent exploration efforts.
Management Perspective and Future Outlook
Executive Director Timothy Strong expressed enthusiasm about the expansion, highlighting the strategic importance of increasing the company’s exposure to the Iramba-Sekenke Greenstone Belt. He emphasized that the enlarged landholding and upcoming survey are integral to Marvel’s strategy to identify an economic gold deposit at Hanang.
While the acquisition and licence application mark significant milestones, the success of Marvel’s exploration campaign will hinge on the forthcoming geophysical survey and drilling results. These steps will provide the first tangible indications of the project's potential to yield commercially viable gold resources.
Bottom Line?
Marvel Gold’s expanded Tanzanian footprint and imminent survey set the stage for a critical exploration phase that could redefine its growth trajectory.
Questions in the middle?
- When will the new prospecting licences be formally granted and registered?
- What specific targets will the drone-borne geophysical survey prioritize within the expanded landholding?
- How soon after the survey results can investors expect updates on the maiden drilling program?
