Business
Avanti Gold Completes Acquisition of Prospecting Rights in the Kraaipan Greenstone Belt of Northwest South Africa
Vancouver, British Columbia--(Newsfile Corp. - June 20, 2024) - AVANTI GOLD CORP. (CSE: AGC) (FSE: X370) (the "Company") is pleased to announce it has received
About this update from Avanti Gold Corp
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - June 20, 2024) - AVANTI GOLD CORP. (CSE: AGC) (FSE: X370) (the \"Company\") is pleased to announce it has received all regulatory approvals and completed the previously announced share exchange agreement with MTM Ltd. (\"MTM\"), a privately held arms-length company and each of the shareholders of MTM. MTM holds rights to gold prospecting licenses in the Magisterial District of Molopo, South Africa along with cash on hand. The license rights cover an area of approximately 90 hectares (\"ha\"), located in the highly prospective Kraaipan Granite-Greenstone Belt terrain, which extends 400 kilometers (\"km\") from southern Botswana into the Northwest Province of South Africa. \"With this acquisition, Avanti Gold has diversified its portfolio with an asset in the highly potential, unexplored Kraaipan Greenstone Belt, located in Africa's premier mining jurisdictions,\" said Sir Samuel Jonah, Director and Chairman of the Board of the Company. About Avanti Gold Corp. Avanti Gold Corp. (CSE: AGC) (FSE: X370) is a Canadian-based gold exploration company with a robust portfolio of projects in Africa. The company's flagship asset is the Misisi Project in the Democratic Republic of Congo (DRC), home to the Akyanga gold deposit. The Akyanga deposit has an Inferred Mineral Resource of 44.3 million tonnes (Mt) at an average gold grade of 2.37 grams per tonne (g/t), totalling 3.1 million ounces (Moz) of gold. The Misisi Project spans three contiguous 30-year mining leases covering 133 square kilometers (km²) along the 55-kilometer-long Kibara Gold Belt, a prominent metallogenic province known for hosting significant gold deposits. A diamond drill program on the Misisi Project is slated for the second half of 2024. Expanding its reach, Avanti Gold has acquired prospecting rights in the Magisterial District of Molopo, South Africa. This acquisition includes approximately 90 hectares (ha) in the highly prospective and largely unexplored Kraaipan Granite-Greenstone Belt, situated in one of Africa's premier mining jurisdictions. With a strategic focus on high-potential projects and a world-class leadership team, Avanti Gold Corp. is well-positioned to advance its exploration efforts and contribute significantly to local communities and mining sector in Africa. On behalf of the Board of Directors Ian MacL...