Vangold currently holds 24 exploration licenses through two wholly owned subsidiaries, Rwenzori Cu & Ni Ltd and Dome Mines Ltd. Vangold's total land package of exploration licenses in Uganda exceeds 2200 square kilometers, or 1.4% of Uganda's land. Uganda offers a welcoming environment for foreign investment in the mineral exploration sector. The licenses cover Uganda's prime areas of high mineral potential. Uganda is strategically positioned between Tanzania and the Democratic Republic of the Congo (DRC); two countries well endowed in gold, nickel, PGE, copper and cobalt. Large geological belts of major economic importance trend from Tanzania and the DRC directly into Uganda, where favorable and efficient licensing regimes exist. Vangold previously explored Uganda from 1994 to 1998. We resumed active exploration in 2007. Uganda, with aid from their government, the World Bank and the African Development Bank, completed airborne electromagnetic geophysical surveys (Fugro) in 2009, which have recently been released and acquired by Vangold in 2009.


Kafunjo (Nickel)

Located in same Kibaran metasedimentary belt as the world-class Kabanga deposit in Tanzania, where Barrick and Xstrata have entered into a 50/50 partnership with Xstrata as the operator. Kabanga is second only to Voisey's Bay and contains indicated resources of 241.2 million pounds of nickel, grade 2.35% nickel, and inferred resource of 1.2 billion pounds, grade of 2.8% nickel. Kafunjo has a strong 4km by 1km magnetic anomaly with superimposed gravity highs. Vangold drilled Kafunjo twice, once in 1994 and in 2008. Ultramafic rocks were not encountered and the anomalies remain to be explained.

A recent orientation survey of a single line of soil geochemistry indicates an ultramafic body is indeed buried at depth and that the nickel may be from a sulfide source. This spurred the initiative to conduct a Mobile Metal Ion (MMI) program covering the entire 4km by 1km magnetic anomaly to generate drill targets. In June 2009, 437 soil samples were collected and sent off for analysis. Response ratios were calculated against background levels for nickel and chromium. The premise being that ultramafic rocks, rich in the mineral olivine, would return anomalous values for nickel and chromium. Results show that there are indeed anomalous nickel and chromium values in the soils, compared to background levels, which are suggestive of a buried ultramafic intrusion at depth, which would explain the geophysical signatures. More importantly, the fact that the highest nickel values are located on the west side of the anomaly, potentially the 'bottom' of the intrusion, where metals accumulate during magma settling, are coincident with low chromium values, suggests the nickel is not from the mineral olivine (or else there would also be elevated chromium numbers), but rather that the anomalous nickel values could be attributed to a sulfide source.

In May 2009, Fugro flew a low level helicopter electromagnetic and magnetic survey across Kafunjo. The data was processed by Fugro in the Ottawa office. This low frequency airborne system (25 Hz) increases the confidence in discriminating various types of conductors previously identified by airborne surveys. Vangold acquired this data in 2009. The acquisition of these newly released geophysical data sets will greatly benefit the exploration work by helping to differentiate between lithologies, clearly visualize structural features and better delineate the position of magnetic and conductive bodies at Kafunjo. Looking at the processed data, Vangold's Kafunjo concessions cover a six (6) kilometer long, 1.5 km wide, strong conductor situated parallel to the folding of the Kibaran Belt. Combining the recent geophysical data with the soil geochemistry, Vangold believes this elongate conductor to be a buried ultramafic intrusive body with nickel-sulfide potential, similar to Kabanga in Tanzania.

In light of the new geophysical data sets, the Kafunjo anomaly is slightly further to the west than previously thought (also explaining why the previous drill holes missed the ultramafic body) and thus further coverage by MMI soil geochemistry of the conductor is recommended. Combined with integration of the geophysical data, Kafunjo will be drill ready. A program of 4000m drilling is warranted at Kafunjo. Currently, Vangold is in discussions with various mineral exploration companies operating in East Africa for Joint Venture opportunities on Kafunjo. Learn more


Kilembe (Copper-Cobalt)

Vangold owns five contiguous licenses 15km southwest of the past-producing copper-cobalt mine operated by Falconbridge from 1956 to 1972. The licenses cover strong copper anomalies from soil geochemistry surveys conducted by Falconbridge. Learn more

West Nile (Gold)

Vangold staked areas that cover all known gold showings in the Ugandan greenstone belt east of the Kilo-Moto goldfields in the DRC. Moto Goldmines' current indicated resources >10 million oz of gold, 11 million inferred. Moto recently arranged $50 million financing to further their projects in the DRC.

In 2008, Vangold discovered a geological continuity of the same Kibalian host rocks as Kilo-Moto gold deposits into our licenses. In 2009, two soil geochemical surveys were conducted at West Nile. Assays returned on the soils show anomalous values for gold, with the best results coming from Vangold's EL0090, where Kibalian host rocks were encountered. More detailed soil grids and trenching are recommended to further define mineralized trends. Learn more


UGANDA FACT SHEET