By Mandipa Masenyama
CANADA based miner, Zephyr Minerals Limited, is set to acquire four gold mines in Zimbabwe.
In a statement to shareholders this week, the company said it had “investigated 12 potential gold projects throughout” the country over the past seven months.
“Management has concentrated on projects with proven gold potential as demonstrated through active, shallow, small scale mining operations or previous exploration work, and based on property size, the ability to host a target potential of at least one million ounces of gold,” reads the statement.
“Based on these parameters, of the 12 properties evaluated, four high priority gold properties are being aggressively pursued for acquisition/joint venture.”
Company President and CEO Loren Komperdo added; “Our investigations to date confirm the merits of our strategy to pursue gold opportunities in Zimbabwe.
“We remain firm in our view that success in project generation in Zimbabwe will provide our shareholders with exposure to gold projects with company transformative potential.”
The Company staked and registered two Special Blocks totaling 201 hectares for gold and base metals in the north-eastern part of Zimbabwe’s Umkondo Basin.
It has also lodged applications with the country’s Mines Ministry for two Exclusive Prospecting Orders (EPOs) in the Nyanga area as well as in the Mount Darwin West area.
Apart from Zimbabwe, Zephyr Minerals’ flagship operation is its Dawson Gold Project in Colorado, USA.
It becomes the latest Canadian mining company to target Zimbabwe after Caledonia Mining Corporation which operates the Gwanda-based Blanket Gold Mine.