Licence areas and prioritization
The Archaean terrain of Zimbabwe is one of the most productive in the world in terms of gold yield per square kilometer. The main gold production is derived from vein and shear zone deposits associated with Zimbabwe's numerous greenstone belts. The total number of gold deposits in the country is estimated at 6,000 many of them small high-grade deposits. However, historical production figures indicate that over 28 deposits have produced more than 10 tons of gold.
Concordia purchased an extensive database consisting of all known primary deposits for gold in the country. This has been used by Concordia's geologists and GIS expert to plot the likely destination over geologically valid erosion periods and the consequent terrace targets have been subject to a proof of concept exercise.
Concordia's strategy in Zimbabwe
While Zimbabwe is economically much improved, investor perceptions remain negative due to the 'indigenization' legislation. For this reason, Concordia has entered into a partnership that "ticks all the boxes". The partners hold 51%; they are a-political, reliable, come from poor rural areas where the income will have immediate beneficial effect.
Concordia's management has many years of experience and extensive contacts in Zimbabwe. It has sought out opportunities for small mines that have produced gold in the past and are now hamstrung by a lack of investment, as well as placer deposits that are likely to contain good grades close to surface that can be readily mined. An agreement with the Zimbabwe Women in Mining Association (ZWMA) has been signed.