Latest News

no news in this list.



ISIN: CH0112933400

WKN: A1CYLE


Pangoy Description

Location:

The Democratic Republic of Congo (formerly Zaire) is situated in Central Africa and it crosses the equator in the north-central region. the third largest country in Africa, it is bordered with Central African Republic to the north, Sudan to the northeast, Uganda, Rwanda, Burundi and Tanzania to the east, Zambia to the south and southeast, Angola to the southwest, and Angola and the Congo Republic to the west.

The Pangoy gold project is located in the North eastern regions of the Democratic Republic of the Congo in the Nord Kivu province.

 

Access

Access to the area requires surface transport from Beni, the largest regional centre near the project area. Access to the project areas is via seasonal roads to local villages and the base camp. Access to target areas is via foot overland, 4wd vehicles or helicopter.

Infrastructure

The largest town to the project area is Beni lying immediately west of the Virunga National Park and the Rwenzori Mountains on the edge of the Ituri forest. Beni has an airport catering for domestic flights to Kisangani and market centers.
 

Tenure

Straight forward tenure situation whereby Pangoy consists of 10 Contiguous exploration licenses held 100% by AURIS Congo SPRL.
 

Geomorphology

The 2,733 mile long Congo River lies mostly within the territory of the country. The enormous semicircular bend in the river delineates a central depression known as the cuvette, with an average altitude of 1,300 ft. Around this densely forested section, which covers nearly half the area of the country, a succession of plateaus rise gradually to height of over 5,000 ft in the northeast and southeast. The highest altitudes are found along the eastern fringe of the country, on the edge of the Great African Rift Valley, where dislocation of the strata has produced important volcanic and mountain masses, the most notable of which is Mt. Ruwenzori, with its peak rising to a level of 16,795 ft.


Savannah and park forest vegetation predominate north and south of the equatorial forest belt; the southern savannah belt is far more extensive than the northern one. All major rivers are tributaries of the Zaire; these include the Lomani, the Aruwimi or Ituri, the Itimburi, the Mongala, the Ugangi, the Uélé, the Kasaim the Sankuru, the Lulua, the Kwango and the Kwilu. The largest lakes include Tanganyika, Albert, Edward, Kivu, Mweru, Leopols II and Tumba.
 

African Geology

The continent of Africa is made up of a vast stable crystalline basement of very old rocks, mainly of Precambrian age. Superimposed on this basement are later, largely flat-lying cover successions; along the east, north, and west coasts there are sediments of Mesozoic and Tertiary age, deposited in marginal marine basins.

The Precambrian basement can be divided into three large masses or cratons; these are the Kalahari, Congo, and West African cratons. They are separated from each other by a number of mobile belts active in late Precambrian and early Paleozoic times.

Regional Geology and the Congo Craton Geology.

The Congo craton occupies a large part of central southern Africa; its oldest rocks occur in the Tanzania province, an area of granitic basement and greenstone belts similar in structure to the Rhodesian province. Two younger belts of metamorphic rocks, the Ubendian and Toro belts, represent mobile belts active about 1,800 million years ago. Another distinctive but younger mobile belt is the Karagwe-Ankole belt, which runs northeast - southwest for at least 1,500 km/932 mi from Uganda to Zambia. It was active 1,400 to1,000 million years ago and suffered several periods of deformation.

The Congo Basin, made up largely of Mesozoic and Quaternary sediments, occupies large areas in the west and centre of the DRC. Precambrian metamorphosed sediments and Proterozoic platform sediments occur in the eastern part of the country. Dolomites and Neoproterozoic sediments of the Katanga Supergroup occur in the Shaba Province in the southeast of the country.

Ancient shields (cratons) are regions where young (Cenozoic) channels cut through Paleozoic palaeochannels and rework their deposits; as a result, Paleozoic alluvium appears to be an intermediate host for recent placers (for example, the Kilo-Moto region in the Republic of Congo). The Kilo-Moto gold belt is well known for its primary and placer gold deposits.
 

Local Geology - The Kilo-Moto gold belt.

Geologically, the Kilo-Moto region is located within the Archaean block of the African platform - so called Epy-Archaean Congo craton, over the most part of which the Lower Archaean rocks of the Western Nile Formation and granite-gneiss domes separated by the Archaean greenstones rocks of the Kibali Group are distributed. To the south, fragments of the Late-Gondwana sedimentary cover, which is represented by the Upper Carboniferous-Permian continental glacial sediments of the Lukuga Formation (analogue of the Karroo Formation tillites).

The distinct morph structural setting of the Paleozoic palaeo-drainage filled by the Lukuga Formation sediments (glacio-fluvial arkoses and conglomerates and varved clays modified into schists) on the southern flank of the mega-arch, Pre-Ituri palaeo-valley in particular, shows they are inherited from pre-glacial depressions which in turn are controlled by the granite-gneiss dome structure. It revealed also a close morphostructural relationship of recent gold-bearing valleys of the Upper Ituri basin with the Pre-Ituri