RE: RE: Two different classes of licences
Canaco has met with the Commissioner of Mines in Tanzania who has confirmed the validity and status of Canaco's existing Prospecting License (PL) which provides Canaco with exclusive rights to the area of the Magambazi discovery. The Commissioner has also informed Canaco of the existence of competing rights in the form of a 0.075 sq. km. PML within Canaco's 196 sq. km. Kilindi PL which was previously not indicated as being present within Canaco's PL. The PML is located within the area that Canaco has been drilling while outlining the Magambazi gold trend.
Sonora Gold & Silver Corp. (TSX VENTURE:SOC) ("Sonora" or the "Company") is pleased to announce an agreement for the option to purchase (the "Option Agreement") through the Company's wholly-owned Tanzania subsidiary, 100% of the 10 square km Negese Mining Permit (the "Negese Property"). The Negese Property is located in the Kilindi District of Northeastern Tanzania and is being optioned from an arms' length private Tanzanian corporation (the "Vendor"). The Negese Property was selected on the basis of growing artisanal mining activity in the area, including processing of alluvial, colluvial and bedrock gold mineralized material including pits and underground workings to a depth of 30 meters. The geological setting is notably similar to the rapidly developing Magambazi discovery by Canaco Resources (TSXV: CAN).
SOC
Gold mineralized zones in the form of discrete high grade lodes and a broad zone of disseminated sulphides hosted by garnet-silica altered amphibolite in a corridor defined by artisanal workings and outcropping mineralized material are known to exist along a minimum of 1600 meters of strike and across from 300 to 500 meters. The host envelope and the mineralized zones dip at 15 to 25 degrees and the true width of the target zone is approximately 200 to 250 meters. The area is traversed by gravel roads and the topography is moderate. The project can be advanced rapidly without significant infrastructure enhancements.
Looking at both releases one from SOC about a few ago and the dispute between the claim. Honestly it looks like CAN will end up winning this one and SOC will have to give to CAN. Or CAN buys off SOC depending where the government sways. However it means more to the PPL of Tanzania then CAN shouldn't have a problem. JMHO