TORONTO, ONTARIO--(Marketwire - Jan. 7, 2013) - SIKA Resources Inc. ("SIKA" or the "Company") is pleased to announce that it has engaged Paterson, Grant & Watson Limited, Consulting Geophysicists ("PGW"), to review and interpret existing geophysical, satellite and geological data over SIKA's four 100 percent owned gold properties in the Lake Victoria Goldfields area of Tanzania.
Kim Harris, President and CEO, stated: "The results, structural interpretation and recommendations generated by this review, in combination with those contained in our existing NI 43-101 technical report, will enable us to hit the ground running in Tanzania, thus accelerating value creation for our shareholders."
To view a map displaying SIKA's gold properties in Tanzania please click below:
To view a localized map displaying SIKA's properties, please click below:
SIKA's flagship property is the Ntundu Gold project, located in the historically significant Siga Hills area. Ntundu is immediately adjacent to and on trend with the past-productive Jubilee Reef gold deposit (Tanzania's first producing gold mine) where artisanal miners remain quite active. Ntundu is also located 40 kilometres south of African Barrick's +16 million ounce Bulyanhulu Gold Mine, and is 30 kilometres north of Barrick's +2.6 million ounce Buzwagi Gold Mine. The Lake Victoria region of Tanzania is host to several significant producing gold mines and Tanzania remains a stable, investor friendly jurisdiction.
The technical information in this news release has been reviewed by SIKA's Qualified Person, geological consultant Avrom E. Howard, MSc, FGA, PGeo.
ABOUT SIKA RESOURCES
SIKA Resources Inc. is a Canadian gold explorer with four properties in the Lake Victoria Goldfields, Tanzania. SIKA has a highly experienced team with extensive public company management experience and strong technical expertise in Tanzania and beyond. Tanzania is one of Africa's most stable countries featuring a progressive, western-oriented political system and investor friendly business climate. It is Africa's third largest gold producer with many prospective regions still underexplored.
SIKA's gold projects are located in the Lake Victoria Goldfields, a world-class gold district with 60 plus million ounces of gold in reserves. Its flagship property, Ntundu, is located in the foothills of the Siga Hills, contiguous to the historical past gold producer Jubilee Reef. African Barrick's 2.6+ million-ounce Buzwagi Mine is on trend and just 25 kilometres north of SIKA properties that are hosted in similar geology. All of SIKA'S properties are hosted within Archean rocks of the Lake Victoria Goldfields area and are cut by lineaments and structures similar to and in some cases on the same trend as those which host some of Tanzania's largest gold deposits.
Kim Harris, President and Chief Executive Officer
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.