• Maiden exploration program delivers strong high-grade gold results at Hazina prospect
• AngloGold Ashanti US$9.0m farm-in agreement commenced on highly prospective Golden Eagle Gold Project
• 21 highly prospective gold prospects identified across 3 frontier gold projects covering over 3,000 km2

EcoGraf Limited (ASX: EGR) has announced positive results from the maiden exploration program conducted on its Tanzanian gold assets. The company holds large legacy tenure in the Archean and Proterozoic terrains in Tanzania that are highly prospective for gold. Following a gold prospectivity study and the maiden exploration program, 21 highly prospective gold prospects have been identified in the Northern, Southern and Western parts of Tanzania, collectively named the Golden Frontiers. The Southern Frontier Gold Project has delivered excellent results from the maiden program at the Hazina prospect, including a 4.45 g/t gold rock chip sample and a maximum stream sediment result of 8,820 ppb (8.82 g/t) Au. These results demonstrate the significant prospectivity of the Hazina prospect over a 3 km length, with the highest results coincident with a large geophysical anomaly. The company has also commenced a US$9.0m farm-in agreement with AngloGold Ashanti on the highly prospective Golden Eagle Gold Project, located on the eastern margin of the world-class +70 Moz gold Archean Lake Victoria Goldfields. Additionally, the Northern and Western Frontier Gold projects have delineated 16 priority gold prospects, including historic gold and copper occurrences. The company believes its Frontier Projects hold significant potential for Proterozoic gold mineralisation, similar to other emerging goldfields in Tanzania.

The company is positioned to unlock value from its gold assets, with the commencement of the farm-in agreement with AngloGold Ashanti and a rising gold price environment. The company sees further potential for lithium pegmatite, copper and nickel sulphide mineralisation across the Frontier projects.