Sika Goes For Gold On Its Tanzania Projects

TORONTO, CANADA: TUESDAY JUNE 3, 2014: SIKA Resources Inc. (“SIKA” or the “Company”) is pleased to announce the Company has successfully listed on the Optimize Capital Marketplace to raise funds for exploration on SIKA’S 100% owned gold projects in the Lake Victoria Goldfields in Tanzania. The Lake Victoria Goldfields are host to over 60 million ounces of gold, and the area’s potential for further discoveries has yet to be tested.

Kim Harris, SIKA’s President and CEO, comments: “We are very pleased to be working with the team at Optimize Capital Markets Inc. SIKA has highly prospective gold properties and we look forward to initiating work on Iselenge and on the Ntundu project which is SIKA’s flagship property. The Ntundu property is located immediately adjacent to the Jubilee Reef Mine, the oldest and also the first gold mine discovered in Tanzania. Both the Iselenge and Ntundu properties are highly prospective and we are eager to get our exploration program underway.”

Artisanal miners are quite active in the Ntundu area, which lies roughly 40 kilometres south of African Barrick’s 17 plus million-ounce Bulyanhulu gold mine, and 30 kilometres north of African Barrick’s 2.6 plus million ounce Buzwagi gold mine. The Lake Victoria region of Tanzania is host to several other significant operating gold mines, including Geita Mine with over 30 million ounces of gold. Tanzania continues to attract investment in the mineral sector and remains a stable, investor-friendly jurisdiction.

Click here to see SIKA’s corporate presentation.

 

 

ABOUT OPTIMIZE CAPITAL MARKETS INC.

Optimize Capital Markets was launched in September 2009 in Toronto, with the express aim of building a new kind of banking firm. Their institutional corporate finance team are experts in traditional banking, but they also set themselves apart with their innovative online institutional crowdfunding marketplace. The largest of its kind in North America, Optimize Capital Markets’ online marketplace is on the cutting edge of investment banking, providing a new way for institutional and accredited investors to explore many verified, promising opportunities.

Optimize Capital Markets is leading the next generation of investment banking firms. They specialize in helping private and public entities acquire capital by connecting institutional and accredited investors directly with investment opportunities.

 

ABOUT SIKA

SIKA Resources Inc. is a Canadian gold explorer with four 100% owned properties in Tanzania’s Lake Victoria Goldfields, a region with over 60 million ounces of gold in reserves, hosting several significant producing gold mines.

Tanzania is one of Africa’s most stable countries, is well endowed with mineral resources, and features 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 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.

SIKA has a highly experienced team with extensive public company management experience and strong technical expertise in Tanzania and throughout Africa.

Click here to view the location of SIKA’s properties in the Lake Victoria Goldfields.

 

For further information, please contact:

Kim Harris President and CEO

CEO Direct Line: + 1 416 447 6882
Fax: + 1 416 447 9950
E-Mail: info@sikaresources.com
Website: www.sikaresources.com

 

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.               

SIKA reports presence of gold and base metals on Iselenge

TORONTO, CANADA: TUESDAY OCTOBER 8, 2013: SIKA Resources Inc. (“SIKA” or the “Company”) is pleased to report positive results from a reconnaissance MMI soil survey conducted during the month of June 2013 on the Iselenge property. The results indicate the presence of both gold and base metals in the Lake Victoria Goldfields, an area dominated by known gold deposits. Two prospective zones on the Iselenge property have been identified for follow up work.

The June 2013 work program also included initial prospecting on the Ntundu Project. As reported in the Company’s news release dated April 8, 2013, work on Ntundu was focusing on a line of talus-sediment soil samples collected from the base of the uplifted Siga Hills outcrop area to test for gold in the talus. Samples were collected at 200 metre spacing and submitted to SGS Laboratories in Mwanza, Tanzania. They were assayed using both bottle roll and 50 gram fire assay procedures.

The Ntundu property, which is 42.6 square kilometres in size, is immediately adjacent to and on trend with the Jubilee Reef deposit, a past gold producer discovered in 1898, and Tanzania’s first producing gold mine. Artisanal miners remain quite active in the area. Ntundu is located 40 kilometres south of African Barrick’s >17 million ounce Bulyanhulu Gold Mine, and is 30 kilometres north of Barrick’s >2.6 million ounce Buzwagi Gold Mine.

Geologically, the property is located in the Archean Siga – Mabale Hills granite greenstone belt, comprised of sheared isoclinaly folded and kaolinized felsic and mafic volcanic rocks, phyllites and Banded Iron Formation (BIF). Within the property, all these rock formations are exposed and partly covered by BIF debris. Laterite and residual soils cover the flat low lying areas.

 

Ntundu sampling points along the bottom of the Siga Hills: Target was Talus
(click on the image for a larger view)

 

The Iselenge property, which is 12.3 square kilometres in size, is located along a northwest-southeast structural trend where the Geita, Bulyanhulu, Buzwagi and Golden Pride mines are found. It is hosted within sheared mafic volcanic rocks and phyllite. Banded Iron Formation is documented on the property, most of which is covered by laterite.

On the Iselenge property, an MMI (Mobile Metal Ions) soil survey was conducted in June 2013. The MMI Technology was used due to the absence of outcrop which precluded the use of more traditional prospecting approaches. The purpose of the MMI survey was to assess the geological merits of the Iselenge property for gold and other elements in the Lake Victoria Goldfields, an area where many continue to assay for only gold, due to the area’s history of significant gold deposits.

The sampling was undertaken in an area at or near the contact zone between granite to the west and greenstone to the east. Samples were collected at approximately 200 metre intervals along a northwest trending possible structural feature, and submitted to SGS Mwanza Tanzania for analyses by SGS Laboratories in Canada, using the MMI-M (Multiple Element) procedure.

 

Results

On Ntundu, the talus-sediment sampling was most likely alongside or parallel to the target structure, however the results showed insignificant gold values. The Ntundu results confirm the need to conduct a detailed geochemical soil sampling grid of 250m X 250m over the entire property so that the potential for gold and other metals can be assessed. Follow-up soil surveys will have a grid that is perpendicular to the NW regional structural fabric. We are assuming possible gold-bearing sulphide mineralization on Ntundu based on neighbouring gold deposit mineralogy.

The Iselenge MMI-M results are encouraging for both gold and base metals in association with pyritic mafic to ultramafic lithologies. A zone with an 800 metre strike length (IS01 to IS05) documents elevated responses for gold and silver as well as copper, lead, cobalt and zinc. A second zone (IS10) with anomalous responses for copper, cobalt and gold over an additional 800 metre strike length occurs to the south of IS01 to IS05. Follow up MMI surveys will include grid lines of 100m X 50m using initial sample points as reference points in the two zones identified.

 

Planned Follow Up MMI Grids on Iselenge
(click on the image for a larger view)

 

“The Iselenge project shows a lot of promise and we are looking forward to implementing a very strategic exploration program focusing on the two zones identified by the MMI results. We have work programs for Ntundu and Iselenge in place, and they are designed to be executed efficiently, to add value to the assets in a timely manner, subject to availability of financing. The potential for both gold and base metals mitigates risk for our shareholders and provides exciting opportunities for SIKA,” said Kim Harris, President and Chief Executive Officer.

The MMI technical information in this news release has been reviewed by Mark Fedikow, B.Sc, M.Sc, Ph.D, P.Eng, P.Geo. CPG who is a Qualified Person within the meaning of National Instrument 43-101.

 

ABOUT SIKA

SIKA Resources Inc. is a Canadian gold explorer with four 100% owned properties in Tanzania’s Lake Victoria Goldfields, a region with over 60 million ounces of gold in reserves, hosting several significant producing gold mines.

Tanzania is one of Africa’s most stable countries, is well endowed with mineral resources, and features 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 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.

SIKA has a highly experienced team with extensive public company management experience and strong technical expertise in Tanzania and throughout Africa.

Click here to view the location of SIKA’s properties in the Lake Victoria Goldfields.

 

For further information, please contact:

Kim Harris President and CEO

CEO Direct Line: + 1 416 447 6882
Fax: + 1 416 447 9950
E-Mail: info@sikaresources.com
Website: www.sikaresources.com

 

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.               

SIKA Commmences Work On Its Ntundu Gold Project In Tanzania

TORONTO, CANADA: Monday, April 8, 2013: SIKA Resources Inc. (“SIKA” or the “Company”) is pleased to announce that field work will commence on its wholly-owned Ntundu gold property on or about the 15th of April, 2013.  The Ntundu Property is located in the Lake Victoria Goldfields.

Kim Harris, SIKA’s President and CEO, comments: “We are very pleased to be initiating work on SIKA’s flagship property, which is located immediately adjacent to the Jubilee Reef Mine, the oldest and also the first gold mine discovered in Tanzania.  The Ntundu property is highly prospective and we are eager to get our exploration program underway.”

Artisanal miners are quite active in the Ntundu area, which lies roughly 40 kilometres south of African Barrick’s 17 plus million-ounce Bulyanhulu gold mine, and 30 kilometres north of African Barrick’s 2.6 plus million ounce Buzwagi gold mine.  The Lake Victoria region of Tanzania is host to several other significant producing gold mines, as well.  Tanzania remains a stable, investor-friendly jurisdiction.

The Ntundu gold property is located within the Archean age Siga-Mabale Hills greenstone belt, largely comprised of sheared and isoclinaly folded volcanics and associated sedimentary rocks including banded iron formation (“BIF”), the latter being a significant host for gold in this area.

Please click here to view SIKA’s property locations

The initial work program on Ntundu includes:

  • Geological mapping, prospecting and sampling, with a particular emphasis on areas where banded iron formation (BIF), quartz veining, shearing and historical workings are found;
  • A line of soil samples at a 100-metre spacing along the base of the uplifted outcrop area to detect any gold, the source of which would be from the outcrop area within the property.

All samples will be sent to the SGS laboratory in Mwanza, Tanzania for analysis.

Avrom E. Howard, MSc, FGA, PGeo, an independent consulting geologist, is SIKA’s Qualified Person.  He has reviewed the property and the planned program, as well as the technical content of this news release.

 

ABOUT SIKA

SIKA Resources Inc. is a Canadian gold explorer with four properties in the Lake Victoria Goldfields, Tanzania. SIKA has a superb 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.

For further information, please contact:

Kim Harris President and CEO

CEO Direct Line: + 1 416 447 6882
Fax: + 1 416 447 9950
E-Mail: info@sikaresources.com
Website: www.sikaresources.com

 

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.               

Sika Accelerates Value Creation for Shareholders

TORONTO, CANADA: Monday, January 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.”

Click here to view a map displaying SIKA’s gold properties in Tanzania.

Click here to view a localized map displaying SIKA’s properties.

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

SIKA Resources Inc. is a Canadian gold explorer with four properties in the Lake Victoria Goldfields, Tanzania. SIKA has a superb 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.

For further information, please contact:

Kim Harris President and CEO

CEO Direct Line: + 1 416 447 6882
Fax: + 1 416 447 9950
E-Mail: info@sikaresources.com
Website: www.sikaresources.com

 

SIKA Resources Announces Board Appointments

TORONTO, CANADA: Thursday, November 1, 2012: SIKA Resources Inc. (“SIKA” or the “Company”) is pleased to announce the appointment of its board of directors. SIKA’s directors bring diverse expertise and longstanding experience in the mining industry and capital markets. They are professionals who are well poised to add value and assist in guiding the company to success. SIKA is currently a private company exclusively focused on gold in the world renowned Lake Victoria goldfields of Tanzania.

SIKA’s President and Chief Executive Officer reports: “We are very pleased to welcome the additional talent our new board appointees represent and to working with them to make SIKA a resounding success. Concurrently we are finalizing plans to get exploration work on our four gold properties underway. Our top priority is the Ntundu property, which ties onto the past-productive Jubilee Reef mine property, both adjacently and on strike. Jubilee Reef was Tanzania’s first producing gold mine, and both it and the surrounding area are the current focus of considerable interest given its excellent exploration potential.”

To view a map of the properties, please click this link.

 

SIKA’s board appointees are as follows:

 

David Unger, BSc, BEd (Independent, Non-Executive)

David Unger has over 25 years of international experience as a geologist, including field experience and geological due diligence for global corporate finance transactions. Mr. Unger has reviewed numerous feasibility studies, prepared and analyzed discounted cash flow models, and as a field geologist has been responsible for target identification and program generation.

With a BSc in Geology and a BEd in Science and Mathematics from the University of Toronto, Mr. Unger also brings solid field experience in Tanzania. Mr. Unger is currently a teacher of mathematics and physical geography at a high school in the Toronto District School Board.

 

Kim Harris, MA (Executive)

Kim Harris is the President, CEO, and founder of SIKA Resources, Inc. Ms. Harris has over 25 years of exploration experience in Africa, and a track record of proving resources. She is the founder and former CEO and Vice Chair of Midlands Minerals Corporation, a TSX Venture company. In addition to her exploration and public company experience, Kim Harris has an additional 10 years of international development experience with Ontario International Corporation, where she was Director of Africa.

Ms. Harris has a Master’s degree from the University of Toronto, postgraduate certificates in International Management from the School of Business at the University of Western Ontario, and the Management Program for Public Executives from the School of Business at Queen’s University, and a Bachelor’s degree from Simon Fraser University, which she earned after completing her A-levels at Canterbury Girls’ Grammar School in Kent, UK.

 

Ernest J. Royden (Independent, Non-Executive)

Mr. Royden is a specialist in corporate finance, with over 40 years of international experience, raising hundreds of millions of dollars for public companies. After attending McGill University, Mr. Royden had decades of additional experience leading institutional sales. He was a Director of Canadian General Investments and Chair of the Audit Committee from 1993 to 2001, and a Director of the Toronto Humane Society and Treasurer of the corporation from June 1997 until November 2001. Mr. Royden has worked with D & D Securities Company since 2000 (formerly Dominick and Dominick Securities Inc.).

 

Karl Schmed (Non-Executive)

Mr. Schmed is a founding Director of SIKA Resources Inc. A former Director and Audit Committee member of a TSX Venture company, Karl brings years of experience in public companies and African affairs. He played a key role in successful public company financings, with over $40 million of capital raised in a period of five years. Mr. Schmed owned, operated, and founded SQS Inc., an international leader in graphic arts, where he developed cutting edge software and generated millions in annual sales, later being bought by a global graphic arts company.

He is currently the President of a marketing consulting firm, and the longest serving board member of the Digital Imaging Association; an Ontario based nonprofit organization of which he is a founder. His education includes four years at the School of Arts and 2 years at the Juventus School of Business in Zürich, Switzerland.

 

Edward A. (Ted) Harris (Non-Executive)

Ted Harris has over 35 years of experience in the financial sector, including 25 years of experience as a portfolio manager for institutions and private clients. He has worked with companies including the Canada Life Assurance Company, Guaranty Trust, Dominion Securities, Royal Bank Investment Management Inc., and most recently McLean Budden Limited.

Ted Harris is currently a board member of numerous private companies, and a Director of Lewa Wildlife Conservancy, a non-profit organization focused on the preservation of wildlife in Kenya. Mr. Harris has a Bachelor of Arts degree from Simon Fraser University.

 

Key Management and Technical Team:

The Company has a highly qualified management and technical team, with public company experience as well as broad African experience. The management team has extensive experience in Tanzania covering a period of more than 25 years.

 

Kim F. Harris, MA – President and CEO

 

Avrom E. Howard, MSc, FGA, PGeo – Geological Consultant

Avrom E. Howard is a minerals exploration geologist with broad international experience encompassing several metallic, gemstone and industrial mineral commodities, geologic settings, cultural, and geographic regions. He has over two decades of experience across Africa and the Middle East alone, in addition to having worked across North America and points beyond. Mr. Howard also retains considerable corporate-financial experience at the executive level, as well, having founded and managed companies that were subsequently listed on the Canadian stock exchanges.

He obtained a Bachelor of Science degree in Geology from the University of Toronto in 1979, and a Master of Science Degree in Geology from the University of Colorado – Boulder in 1992. He is a Professional Geoscientist registered with the Association of Professional Geoscientists of Ontario, and a Qualified Person in accordance with the provisions of National Instrument 43-101. He is a Fellow of the Society of Economic Geologists. Mr. Howard is the founder of Nebu Consulting LLC, an independent geological consulting practice that provides a variety of research, analysis, fieldwork, project management and related services to the international minerals exploration and mining industry.

 

Paul E. Singer, CA – Chief Financial Officer

Mr. Singer has over 30 years of experience as a Chartered Accountant in private practice. He has 15 years of executive accounting experience in mining exploration. Paul Singer has been the CFO of SIKA Resources Inc. since its inception.

To view our corporate presentation, please click this link.

 

ABOUT SIKA

SIKA Resources Inc. is a Canadian gold explorer with four properties in the Lake Victoria Goldfields, Tanzania. SIKA has a superb 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.

For further information, please contact:

Kim Harris President and CEO

CEO Direct Line: + 1 416 447 6882
Fax: + 1 416 447 9950
E-Mail: info@sikaresources.com
Website: www.sikaresources.com

 

SIKA acquires four gold properties in heart of Lake Victoria Goldfields

TORONTO, CANADA: Wednesday, January 11, 2012: SIKA Resources Inc. (“SIKA” or the “Company”) is pleased to begin the new year with the acquisition of four gold projects in the heart of Lake Victoria Goldfields, Tanzania. All four properties are in proximity to major operating gold mines and significant known gold deposits, and all are located within the regional structural corridor that hosts many of the major gold deposits in the Lake Victoria Goldfields area.

Tanzania is one of Africa’s most stable, mining friendly countries, featuring a progressive and western-oriented political system. Some salient features of the properties are as follows:

  • Geological features documented on all properties are consistent with those seen at many of the producing gold mines in the area;
  • All the properties are readily accessible and within driving distance of the main cities in the region, where all necessary labour, supplies and services may be found;
  • All four properties are 100 percent owned by SIKA with no royalties or other obligations outstanding aside from those due to the Tanzanian government itself.Several major multinational gold mining companies have made significant investments in Tanzania and are operating in the area, including Anglogold Ashanti (Geita mine – 33 million ounces in resource and reserve), African Barrick (Bulyanhulu mine – 15+ million ounces, Buzwagi mine – 2+ million ounces, Tulawaka mine – 1+ million ounces), and Resolute Mining (Golden Pride – 2.6 million ounces).

Please click here to view the SIKA Property Location Map.

A brief description of the four properties follows:

NTUNDU GOLD PROPERTY

  • 42.6 square kilometres located in the Siga Hills greenstone belt (part of the Kahama greenstone belt);
  • Immediately east of the Jubilee Reef gold mine, a past gold producer, and immediately south of an active artisanal gold mining camp;
  • 40 kilometres south of Bulyanhulu gold mine;
  • 30 kilometres north of Buzwagi gold mine;
  • Lies along the eastern edge of the Kahama greenstone belt, which is host to both the Bulyanhulu and Geita gold deposits, and within a northeast-southwest structural trend that hosts the Geita, Bulyanhulu, Buzwagi and Golden Pride gold mines.

ISELENGE GOLD PROPERTY

  • 12.3 square kilometres located 60 kilometres west of the Golden Pride mine at the west edge of the Nzega greenstone belt;
  • Active artisanal gold workings just one kilometre east of the property;
  • Lies along the eastern edge of the Kahama greenstone belt, host to both the Bulyanhulu and Geita gold deposits.

SHIBISO-IGWEMA GOLD PROPERTIES

  • Two contiguous properties totalling 132 square kilometres;
  • Hosted in granitic terrain with slivers of greenstone and banded iron formation similar to the Buzwagi gold mine, which is less than 25 kilometres to the north;
  • The properties also lie along the eastern edge of the Kahama greenstone belt, host to both the Bulyanhulu and Geita gold deposits.

SIKA’s technical team visited all four projects in December 2011 during which time 44 soil and rock chip samples were collected and submitted to SGS Laboratories in Mwanza for analysis. Results are pending. SIKA’s geological team will incorporate these data with all historical and other available, published data, which along with a follow up visit by SIKA’s independent Qualified Person will be included in a Technical Report in accordance with the provisions of National Instrument 43-101. SIKA anticipates that this report will be completed within the next four months.

“Once the 43-101 report is in, and our initial exploration program is finalized, we plan to proceed quickly with the work required to assess and confirm the gold potential of these properties, along with evaluating additional gold opportunities in this prolific gold- producing region,” said Kim Harris, SIKA’s President and Chief Executive Officer.

ABOUT SIKA

SIKA Resources is a Canadian junior exploration company focused on Tanzanian gold. The Company was established in 1996 and has extensive experience, and excellent contacts and relationships throughout Tanzania and elsewhere across Africa. Management is committed to creating value by fast tracking prospective gold projects that show superior potential for further development. SIKA will continue to focus on the acquisition of gold properties that are geologically similar and geographically proximal to significant gold deposits and producing mines, then advancing them quickly, efficiently and effectively, mindful of the communities and natural surroundings of the areas within which the properties are located. For additional information, please visit SIKA at www.sikaresources.com.

The technical content of this news release has been reviewed by Avrom E. Howard, M.Sc., F.G.A., P.Geo., a Qualified Person as defined by National Instrument 43-101.

Kim Harris
President and Chief Executive Officer

For further information, please contact:

Kim Harris President and CEO

CEO Direct Line: + 1 416 447 6882
Fax: + 1 416 447 9950
E-Mail: info@sikaresources.com
Website: www.sikaresources.com

 

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.