MineExplo 6 joined PML Lwamgasa

6PML Lwamgasa Gold Project — Investor Memorandum | Mineexplo Company Limited
Investor Memorandum  ·  May 2026  ·  Confidential

Six licences.
Four targets.
One belt that built
20 million ounces.

A drill-ready orogenic gold project in the Geita Greenstone Belt, Tanzania — immediately adjacent to a producing mine, permit-active, and seeking a joint-venture partner for a fully-costed 24-month programme.

Geita Greenstone Belt 6 Active PMLs 4 Geophysical Targets BIF-Hosted Orogenic Au EPP Stage · Drill-Ready Adjacent to Buckreef Gold Mine
6 Active PML licences
4 Confirmed drill targets
~600m Priority anomaly strike
$1.27M 24-month programme

A drill-ready gold project next door to a mine generating $25M per quarter

Mineexplo Company Limited holds six contiguous, active Primary Mining Licences in the Lwamgasa sector of Geita District, northwestern Tanzania — inside the same Archaean greenstone belt responsible for over 20 million ounces of gold production at the Geita Hill, Nyankanga, Kukuluma, and Matandani deposits.

The property sits immediately on-trend with the Buckreef Gold Mine (TRX Gold / STAMICO), which generated USD 25.1 million in revenue and 6,597 ounces of gold in Q1 FY2026 from the same geological corridor. Three independent geophysical datasets have defined four ranked drill targets. The Priority 1 core has never been drilled.

We seek a joint-venture or technical-support partner to fund and execute the exploration programme our geophysics team has fully scoped and costed.

"The Geita mine has produced over 8.3 million ounces since 2000 with current resources of approximately 6.5 Moz. The deposit model and geophysical signatures at Lwamgasa are directly analogous to these producing operations."

— consistent with Dirks et al. (2020), Society of Economic Geologists Special Publication 23

Within Buckreef's prospecting licence area — the same village of Rwamgasa — 53 Primary Mining Licences registered to local Tanzanians currently operate alongside the large-scale Buckreef operation. This demonstrates that regulatory and community frameworks for PML-scale and large-scale mining coexistence are established, tested, and functioning in this exact location.

The same fingerprint as Geita Hill — confirmed by three independent datasets

Every major deposit in the Geita Greenstone Belt follows one model: orogenic, mesothermal, BIF-hosted gold forming at banded iron formation–diorite contacts within NW–SE trending shear zones. Approximately 80% of gold at Geita Hill is hosted in BIF. The geophysical expression is reproducible and diagnostic — magnetite destruction by sulphide replacement produces a magnetic low coincident with an IP chargeability high. That is exactly what our surveys resolved at Lwamgasa Targets A and B.

Ground magnetics

25 m line spacing, fixed base station diurnal correction. RTE processing confirms central magnetic low at Targets A and B — the classic magnetite-destruction alteration signature of BIF-hosted orogenic gold.

IP / Resistivity

17 E-W dipole-dipole lines, 50 m spacing. Chargeability η = 7–8.5 ms across 5–7 depth slices (30 m to >150 m). Exceeds published BIF-Au geophysical threshold (Sono et al. 2020: η ≥ 6.86 mV/V).

Soil geochemistry

50 m × 50 m BLEG grid. Peak results MRW40 (45 ppb Au) and MRW45 (40 ppb Au) co-located directly within the Priority 1 IP core — independent surface confirmation of the subsurface anomaly.

Operation Operator Distance Endowment / Status
Immediately adjacent
Buckreef Gold Mine
TRX Gold (55%) / STAMICO (45%)
On-trend south
2.04 Moz M&I @ 1.77 g/t Au · Q1 FY2026: $25.1M revenue · CIL plant 1,000→2,000 tpd
Geita Hill / Nyankanga / Lone Cone / Star & Comet
AngloGold Ashanti
<40 km
>20 Moz Au combined past production + reserves · ~0.5 Moz/year production
Nyanzaga Gold Project
Perseus Mining
Regional corridor
200,000+ oz/yr target · $523M capex committed · First gold Q1 2027
Bulyanhulu Gold Mine
Barrick Gold
~45 km east
Long-life underground mine · world-class high-grade system

Four ranked targets — two Priority 1, drill-ready now

Each target has been scored against four independent evidence criteria — magnetic signature, inverted IP response, soil geochemistry, and structural setting — to produce a transparent priority ranking. The Priority 1 core (Targets A & B) has never been drilled and carries pre-discovery pricing.

Target Priority Characteristics Key metric
Target A
Priority 1
~600 m × 350 m footprint. Chargeability η = 7–8.5 ms across 5–7 of 7 depth slices (30 m to >150 m). BIF top at 15–25 m (Euler N=1). Au-in-soil: MRW40 = 45 ppb, MRW45 = 40 ppb co-located with IP core. Primary drill target.
η 8.5 ms
Target B
Priority 1
Northern extension of Target A; same structural corridor. Vertically persistent η ≥ 7 ms. Au-in-soil MRW55 = 22 ppb on western edge. Tests along-strike continuity of the Priority 1 IP corridor. Same drill round as Target A.
η 7+ ms
Target C
Priority 2
Near-surface BIF subcrop at 10–18 m depth (Euler). Persistent η ≥ 7 ms at shallow levels. Shallowest, lowest-cost target — highest near-term cash-flow potential from EPP-stage test-mining. Three pits planned in Cluster C.
10–18 m
Target D
Priority 3
Eastern zone. BIF top at 35–55 m. IP halo only (η ≈ 5–6.5 ms); no persistent core yet. Requires infill IP east to E 396,500 to upgrade to Priority 2. Off-survey Au-in-soil cluster adjacent.
35–55 m

Early cash flow from day one of operations

EPP approval immediately authorises nine small-scale test pits — 30 m × 30 m × 10 m — in three clusters on Targets A, B, and C, concurrent with Phase 1 diamond drilling. Target C's BIF subcrop sits at only 10–18 m depth.

Near-surface ore is toll-treated at the adjacent Buckreef CIL processing plant, currently expanding from 1,000 to 2,000 tpd. Revenue from test-mining partially offsets exploration expenditure from month one — a structural advantage rare at this exploration stage.

Pit-wall exposure of bedrock, alteration, and sulphide mineralogy also provides direct geological validation of the geophysical model before deeper drilling commits capital, materially reducing drill-programme risk for the incoming partner.

53 PMLs already operate alongside Buckreef's large-scale mine in the same village — coexistence of small-scale and large-scale mining is not theoretical here; it is the established reality.

Infrastructure already built next door

Grid power — TANESCO national electricity; no diesel generation required
Sealed road — National road B163 (Mwanza–Geita); all-weather access to site
Laboratory — SGS / African Assay Labs Mwanza; internationally accredited fire-assay and ICP-MS
CIL processing — Buckreef plant expanding 1,000→2,000 tpd; available as toll-treatment partner for test ore
Workforce — 700-person Tanzanian workforce at Buckreef; established ASGM community in Rwamgasa village
Air access — Regional airstrips operational; Mwanza International Airport within 2–3 hours

Three phases. Fully costed. Designed to de-risk at every step.

The following programme advances the 6PML Lwamgasa property from current geophysical targeting through to JORC-Code Inferred Resource definition and pre-feasibility study. All budget figures are indicative, based on 2026 East African contractor rates, and exclude VAT and Tanzanian Government royalties.

Phase 1
Months 0–9
EPP test-mining: 9 pits (30×30×10 m) on Targets A, B, C · 4 diamond drill holes, ~850 m HQ (DDH-A1, A2, B1, C1) · Fire-assay + ICP-MS at SGS Mwanza · 3-D IP inversion · Magnetic Vector Inversion · Early cash flow from bulk-sample processing / toll-treatment at Buckreef CIL
USD 405K – 635K
Phase 2
Months 9–18
8 step-out diamond holes, ~2,000 m HQ on Targets A/B · Infill IP east of current survey grid · Independent Competent Person review · JORC-Code Inferred Resource estimate for Targets A and B
USD 660K – 1.05M
Phase 3
Months 18–24
Six-PML amalgamation · Full NEMC-grade Environmental Impact Assessment · Mining Licence application under Mining Act section 39 · Metallurgical test work · Scoping-level Pre-Feasibility Study · Concurrent test-mining cash flow (net positive)
USD 205K – 370K
Total programme
24 months
Integrated Phase 1–3 budget · Minimum Phase 1 partner commitment: USD 425,000
USD 1.27M – 2.06M

Two legal structures. No ambiguity.

Tanzania's Mining Act (Cap. 123, Revised Edition 2019) provides two explicit, formally registered pathways for foreign capital participation. We recommend Structure A for Phase 1, converting to Structure B upon satisfactory results.

For Phase 2 & ML conversion

Structure B — Incorporated Joint-Venture Company

Mineexplo proposes 25–40% working equity (statutory 20% indigenous-equity floor, Mining Local Content Regulations 2018). Upon ML conversion, the Government of Tanzania receives a non-dilutable 16% free carried interest (Mining State Participation Regulations, 2022). Foreign capital fully permitted subject to Mining Commission approvals and local-content thresholds.

Recommended structure
TSA for Phase 1 (3 years); convertible to incorporated JV on positive Phase 1 results
Min. Phase 1 commitment
USD 425,000 — firm lower-bound of Phase 1 budget at 2026 East African contractor rates
Mineexplo contribution
All 6 active PML licences · full geophysical dataset · EPP · TFS liaison · on-ground operational capability
Revenue share (TSA phase)
Mineexplo ≥ 30% of gross profit (statutory floor, TA Regulations 2025, Reg. 9); split negotiable above floor
Equity split (JV phase)
Mineexplo 25–40% / Partner 60–75% (subject to statutory 20% indigenous-equity floor and Mining Commission approval)
State carried interest
16% non-dilutable on ML conversion (Mining State Participation Regulations, 2022)
Exclusivity window
60-day exclusive due-diligence period on receipt of a credible Letter of Interest; extendable on demonstrable progress
Data room access
Raw geophysical .GDB files · EPP documents · PML certificates · BLEG assay data · Oasis Montaj project · site visit facilitated

Six steps from Letter of Interest to Phase 1 drill

Submit a Letter of Interest
Address to info@mineexplo.co.tz. This triggers a 60-day exclusive due-diligence window — extendable on demonstrable progress.
Access the full data room
Raw geophysical .GDB files, EPP documents, TFS correspondence, all six PML certificates, BLEG assay certificates, and the complete Geosoft Oasis Montaj project.
Facilitated site visit
Mineexplo facilitates a guided visit to the 6PML licence area, Buckreef Gold Mine (infrastructure context), and SGS / African Assay Labs Mwanza.
Term sheet negotiation
Parties agree indicative term sheet covering structure (TSA or JV), financial commitments, equity / revenue splits, governance framework, and work programme milestones.
Legal agreement and registration
Formal TSA or JV agreement executed and registered with the Mining Commission by the Resident Mines Officer.
Phase 1 mobilisation
Joint Technical Committee established. EPP submitted and approved. Phase 1 test-mining and diamond drilling commences within weeks of funding commitment.

Environmental, social, and governance commitments

Environment

  • Mercury-free gravity processing — full compliance with Tanzania's National Action Plan for ASGM (2020–2025)
  • 60-metre buffer from all natural water sources (NEMC 2026 standard)
  • Vegetation clearing restricted to immediate operating footprint
  • Mandatory progressive re-planting of indigenous species along all access routes
  • Progressive rehabilitation of all disturbed ground per NEMC standards

Social

  • 100% Tanzanian workforce — consistent with Mining (Local Content) Regulations, 2018
  • Structured technology and knowledge-transfer plan to Tanzanian personnel per TSA framework
  • Community liaison officer embedded in Phase 1 field crew
  • Active engagement with Rwamgasa village — an established greenstone-gold mining community

Governance

  • All activities under Mining Commission approvals, TFS clearance, and EPP / EIA compliance frameworks
  • Quarterly operational reporting to Joint Technical Committee
  • Annual external audit
  • 16% non-dilutable State free-carried interest acknowledged and incorporated into JV economics from day one
Get in touch

Ready to examine the data?

Qualified counterparties are invited to request a confidential data-room package and site visit. A 60-day exclusive due-diligence window is available on receipt of a credible Letter of Interest.

Send a Letter of Interest
1st Floor, Simba Tower, Mji Mpya Street, Dodoma, Tanzania

Important notice and disclaimer. This memorandum is a marketing communication prepared by Mineexplo Company Limited solely for the purpose of attracting exploration-stage investment partners to the 6PML Lwamgasa Gold Project, Geita District, United Republic of Tanzania (Primary Mining Licences PML02383GTA, PML02384GTA, PML02415GTA, PML02416GTA, PML02417GTA, PML02418GTA). It contains forward-looking statements based on geophysical interpretation. No JORC-Code, NI 43-101, or SAMREC mineral resource estimate has been established. No drilling has been conducted on any of the six PML licences. The existence, grade, or continuity of gold mineralisation at the described targets is inferred from geophysical signatures and regional geological analogy — it has not been verified by direct sampling. Gold price references reflect May 2026 market data. References to third-party operations (AngloGold Ashanti, TRX Gold, Perseus Mining, Barrick Gold) are for contextual comparison only and do not imply endorsement or affiliation. All budget figures are indicative, based on 2026 East African contractor rates, and subject to change. Nothing in this document constitutes financial, legal, or investment advice. Prospective partners should conduct independent due diligence and seek qualified professional advice before making any investment decision. Licence details should be verified at www.madini.go.tz. This document is provided on a confidential basis. It may not be copied, distributed, or disclosed to any third party without the prior written consent of Mineexplo Company Limited.

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