Currie Rose Resources entered into a joint venture agreement on January 24, 2011 with Liontown Resources Limited a Australian based company.
The Jubilee Reef project is located 125km southwest of Mwanza, and 40km south of the 16.4 Million ounce (Moz) Bulyanhulu Gold mine. The Colonial 'AugustaVictoria' Gold mine and several very promising prospects define the known gold mineralisation in the project area. Multiple significant gold in soil anomalies have been generated and drilled with positive results returned from prospects known as "Panapendaza", "Shangaza" and "Masabi Hill". All 3 prospects appear to share a similar strike (65°) and may form part of the same mineralized system. All the prospects remain open along strike and to depth.
The company has finalized the remaining 34 per cent interest in the Jubilee Reef Gold Project in Tanzania, East Africa, with joint venture partner Liontown Resources Ltd. giving it 100 per cent ownership of the emerging project. The agreement to sell Currie Rose's remaining equity was announced April 29, 2013 and final settlement was dependent on formal transfer of key underlying tenure to Liontown. These transfers have now occurred. In consideration for increasing its interest in the Jubilee Reef Project to 100 per cent, Liontown will issue 12 million shares to Currie Rose. These shares will be subject to a holding lock until May 20, 2015.
The company retains a 2-per-cent net smelter return royalty from any mineral production from the Jubilee Gold Project.
The company has sold the shares for $60,000
For more information on their activities go to their web site: http://ltresources.com.au/
The Mabale Hills project covers approximately 261km². The Mabale Hills licences are characterized by steeply dipping, highly deformed banded ironstone formations (BIF's) surrounded by acid volcanics, with granitoids to the west and east that form part of the Lake Victoria Greenstone Belt in central Tanzania. Gold mineralisation has been identified in quartz veins and disseminated in BIF's and cherts with the Mwamazengo discovery returning significant gold mineralisation extending for over 300m and is open at depth. A number of gold anomalies have also been generated at Dhahabu, Sisu River, Simba and Manyaro with some success Mabale Hills Gold Anomalies.
Currie Rose Resources Inc. released on May 14, 2013, the terms of an agreement to sell the Mabale Hills project to a private company known as Simba Resources Ltd. $80,000 (U.S.), which has been paid to the company, and 2.1 million common shares of Simba. This sale was closed in January, 2015, and the purchaser evolved into a public company known as Tanga Resources Ltd. with a 2:1 share exchange. The company then owned 4.2 million shares of Tanga Resources. The company retains a 2-per-cent net smelter return royalty from any mineral production from the Mabale Hills claims.
The company has sold the 4.2 million shares for net proceeds of $381,898.