The results for the first pass Mkuvia sampling program are very encouraging. One might argue that still little is known about this property but IMHO, as one looks closer I see that the potential is for... multi-million ounce deposit.
Why? The biggest reason for me to have a degree of confidence in the potential for DLKM is that everyone that has been to the property, including the geo-types, have remarked that the gold is everywhere they looked. Gold in every pan. More than that, modern artisanal miners are all over the deposit and they don't dig unless there are values to be recovered.
I believe Douglas Lake Minerals understands their placer resource. I expect to soon hear more news and to have technical reports released soon that include sufficient regulatory compliance to apply for a mining permit from the Tanzanian government. A NI 43-101 compliant report on Mkuvia will come but the project moves forward with a JORC compliant resource estimate and Ross McMaster, owner of TanzMinEx, is a JORC qualified person according to the DLKM website.
IMO DLKM has made good on its goals for this project, not least of which is obtaining a partnership with TIANJIN, a geological and natural resource arm of the Chinese government. They have an equity position in the company and have committed $6 million for exploration and production, according to the company.
Despite a highly publicized critic of the company, I think that Harp Sangha has done an admirable job in bringing this project to its current point of development. The price is right and I am buying.
Not Investment Advice. Go to the website, read the report on The DD link at the top left of the Agoracom page. GLTA
