$157,281,000,000

The gemstone mining venture rests on a 24Ha titled area with three primary mining licenses for mineral rights to prospect and mine gemstones for seven (7) years, renewable and effective from the date of issue. The mining project is in Simanjiro district, about 250 kilometers northeast of Tanzania’s capital city Dodoma. In January – February 2020, the project area was surveyed and mapped at the scale of 1:2000 by a geological consultancy firm MIM Resources, Tanzania. Geological mapping work primarily focused on one block - 6.77 hectares of the total 24 hectares. The geology and mining report concluded that, known mineralization at the project site is hosted in metasomatic altered amphibolitic ultramafic rock units and that gemstones are confined in mica-rich brownish layers within grayish-green and black amphibolite units, and that these mineralized mica-rich layers occur as lenses sandwiched between amphibolite’s.