Cameo Resources has a signed LOI to acquire acquired 51% interest in the Katoro Gold Properties within the Lake Victoria Goldfields in northwest Tanzania.
The Katoro Gold Property is comprised of 12.52 km2 road accessible properties, approximately 170 km southwest of Mwanza city, 63 km southwest of Geita Region. It is Located within the Sukumaland Greenstone Belt (“SGB”) home for the Buckreef mine along the same strike within Katoro, within the Lake Victoria Goldfields.
Regional geophysical and structural settings suggest an exploration potential for significant gold mineralization within the project areas.
Regional geophysical and structural settings suggest an exploration potential for significant gold mineralization within the project areas.
Regional Location
Location
The Katoro Gold prospect offers the potential for two very timely exploration upsides:
First, through Immediate access to epi-mesothermal zone of higher-grade gold mineralization in quartz veins from surface;
Second, much broader underexplored potential for a buried porphyry structure.
Lake Victoria Gold Fields (LVGF)
A Significant Gold Producing Region
The Lake Victoria Goldfields (LVGF) in Tanzania is a key gold-producing area within the Tanzania Craton, featuring Neoarchaean greenstone belts like Sukumaland and Musoma-Mara, home to major mines such as Geita and Bulyanhulu.
As Africa’s third-largest gold producer, Tanzania relies heavily on the LVGF for its ~50-tonne annual output. The region’s geology, with gold-rich quartz veins and shear zones, supports both large-scale and artisanal mining, boasting over 44 million ounces of reserves and ~50 million ounces in resources.
Emerging projects like Buckreef and Nyanzaga highlight untapped potential in underexplored belts and deeper zones, cementing LVGF’s role in Tanzania’s gold industry and future production.
At present, The LVGF area hosts ongoing operations by some of the largest gold companies in the world and include current activities by TRX Gold Corporation (TSX:TRX), AngloGold Ashanti plc (NYSE:AU), and IAMGOLD Corporation (TSX:IMG).
Katoro Gold Properties
Regional Projects
The Katoro Gold concessions have been mined by artisanal miners for some time, evidenced by the multiple shallow pits and trenches showing iron carbonate altered mafic volcanics (basalts) and quartz feldspar porphyry intrusions.
Gold is associated with grey quartz veins and stringers that exhibit a pinch and swell characteristic, parallel to the fabric of east-west shear zones.
