June 30, 2001
Preliminary metallurgical test work was completed by Ammtec of Australia on oxide and sulphide ore composites and different variations of the oxide ores. Preliminary results of test work on oxide material showed 94% recovery from direct cyanidation using a 75ìm grind size. Sulphide ore recovery was about 51% from direct cyanidation for the same grind size (75ìm). Flotation test work at normal and elevated pH achieved a recovery of 90.5% at a pH of 8.
June 24, 1999
East Africa Gold and its parent Spinifex have entered into an agreement with Ashanti Goldfields regarding the Buckreef/Rwamagaza and Kitongo gold projects in Tanzania. Ashanti has the option to earn a 55% interest in Spinifex's equity in the projects, and a further 5% by producing a bankable feasibility study. In return, Ashanti will reimburse the Spinifex Group (including East Africa Gold) a total of US$5.5 million in cash over a two year period, and must spend US$13 million on exploration over a three year period. (Gallery Gold Limited)
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