Deccan Gold Tanzania, a wholly owned subsidiary of Deccan Gold Mines, identified a gold block in Tanzania's Nzega-Tabora Greenstone belt. The finding in Tanzania's Nzega-Tabora Greenstone belt demonstrates our technical expertise in exploration and prospecting over some of the world's most challenging terrains. Our continued attempts to expand our worldwide assets complement the core business and strengthen our operational capabilities. The lithium discovery is an enormous leap forward in our effort to diversify into key minerals, said Hanuma Prasad Modali, managing director of Deccan Gold Mines Ltd.
Deccan Gold Tanzania holds four prospecting licences (PL) for gold over the Nzega-Tabora Greenstone Belt and one for gold over the Geita-Sukumaland Greenstone Belt. All five PLs were awarded by the end of 2021. The company recently sought for a lithium prospecting licence, which was recommended for approval. As part of its goal to expand into key minerals, Deccan Gold Mines has conducted extensive desktop research on suitable sites in Tanzania. Based on these research, the company identified a promising region of 100.49 square kilometres and applied for a prospecting licence. The prospecting licence has already been recommended, and a grant order is pending.
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