BELIZE CITY, BELIZE--(Marketwired - August 13, 2014) - The directors and management of Kilimanjaro Capital (PINKSHEETS:KIMJF) are pleased to announce that it has signed an agreement with SIKA Resources to earn up to a 30% interest in SIKA's world class gold assets in Tanzania.
SIKA holds properties located within the Lake Victoria Goldfields, a world-class gold district with over 60 million ounces of gold in reserves In Tanzania. SIKA's properties host Archean greenstone rocks within which numerous northeast-southwest and northwest-southeast trending fault/shear zones are seen, similar to trends hosting known gold deposits across the district. The assets are favourably located next to billion dollar gold deposits run by majors such as AngloGold Barrick and Resolute.
Kilimanjaro is excited by the opportunity present in Tanzania. The political stability coupled with the untapped resource potential allows Kilimanjaro to make an impact revenue generating acquisition. According to Kilimanjaro CEO Zulfikar Rashid: "Kilimanjaro is delighted with this opportunity to work with Kim Harris and SIKA Resources in Tanzania. This gold asset has been on our radar for a long time and we will do everything possible to make it happen. We are already in discussions about the financial structure required and hope to consummate the deal in 30 to 60 days."
SIKA plans to announce its work program on the assets shortly and is also optimistic about the two emerging Africa focused resource companies partnering up to tap gold deposit formations.
Kim Harris, the CEO of SIKA Resources, has reinforced the relationship is important to both companies: "The interests of SIKA Resources and Kilimanjaro Capital are aligned. Both companies want this partnership to prosper. This is a joint effort by two companies ready to go to work to reach their goals."
Tanzania is considered by many as Africa's most stable country featuring a progressive, western-oriented political system and investor friendly business climate. It is Africa's third largest gold producer, yet many highly prospective regions remain under-explored. More information on SIKA's assets can be found at www.sikaresources.com.
Certain statements contained in the following presentation constitute forward-looking statements, involving a number of known and unknown risks, uncertainties, and other factors, which may cause the actual results, performance, or achievements of the Company to be materially different from actual results and achievements expressed or implied in such statements. Readers are cautioned not to place undue reliance on these statements, while considering the risks inherent in the business of exploration.