CALGARY, ALBERTA--(Marketwired - Sept. 25, 2013) - Kilimanjaro Capital (GXG:KCAP) ("Kilimanjaro" or "the Company"), the ethical investment company looking to do acquisitions in the African mining and Oil & Gas sectors, is pleased to announce that Maiombe Ouro e Minerais Ltd. ("Maiombe") -- in which Kilimanjaro holds a 49% non controlling interest -- has reported progress on Phase I of its exploration program. Maiombe is a private mining company which has a concession in the Cooperative Minier de Developpment du Mayombe "COMDDM" in northeast Cabinda near the Congolese (Brazzaville) border.
Maiombe reported that the Armed Forces of Cabinda (Forças Armadas de Cabinda) have now established sufficient control in the Mayombe Liberated Zone to allow exploration by Maiombe. Maiombe's personnel will be reentering the COMDDM for the first time this year to evaluate gold, diamonds and other mineral resources. Previous exploration methods have been by artisanal methods however Maiombe now plans to conduct mobile test drilling at undisclosed locations for gold and diamonds.
The resources of the COMDDM are included in the legal case FLEC/Angola 328/06 currently pending before the African Union's African Commission on Human & Peoples Rights (ACHPR) in Banjul, Gambia. FLEC is legally challenging Angola's control and management of the onshore resources in Cabinda. Maiombe was historically the largest gold producer in Portuguese Africa and was the source of 90% of its gold production. Since the Cabinda conflict began in 1975, gold production has been sporadic.
In a recent statement FLEC's Chairman, Aphonse Massanga, reiterated: "[A] Special mineral exploration license [has been] granted to Maiombe Ouro e Minerais Ltd and its assignees. Companies involved in resource extraction or exploration currently operating in Cabinda without authorization of this Government and FLEC are operating outside the protection of the law and will be held accountable."
Kilimanjaro looks forward to the results from the Maiombe exploration project and a positive ruling from the African Union Banjul Tribunal in 2014 which will green light on site mining.
For additional information see Kilimanjaro's website at www.kilimanjarocapital.ca.