TANGO ANNOUNCES RENEWAL OF MIDDLEPITS PROJECT PERMITS

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VANCOUVER, BRITISH COLUMBIA — 18 October 2018 – Tango Mining Limited (“Tango” or the “Company”) (TSXV:TGV) is pleased to announce that Metswedi Mining (Pty) Ltd. (“Metswedi”) has received the first renewal for both Prospecting License No. 101/2015 (430 km2) and No. 058/2015 (2.3 km2) which make up the Middlepits Project (the “Property”). The Property is located 470 kilometers (km) south west of Gaborone and 90 km south west of Tshabong in the Kgalagadi District, Republic of Botswana.

Tango will acquire a 75% unencumbered interest in the Property from Metswedi and is responsible for all further exploration and development expenditures on the Property. The Property was renewed for a period of two years commencing on 1 October 2018 and ending on 30 September 2020.

Middlepits Project, Botswana

The Property was explored between 1974 and 1976 by De Beers, between 1978 and 1980 by Falconbridge and between 1993 and 1997 by Southern Africa Minerals Corporation. The work resulted in the identification of a 100 square km area of gravels containing diamonds and heavy mineral concentrations, mainly garnets and ilmenites. The Property also hosts a kimberlite, called Kolonkwaneng. The Kolonkwaneng kimberlite, was identified by De Beers in 1977 and more recent airborne geophysics suggests it is elliptical in shape and is 127 metres (“m”) by 226 m in diameter. Bulk sampling work by De Beers recovered micro diamonds and heavy minerals that indicate the kimberlite is diamondiferous.  Please see the news releases dated 21 December 2017 and 7 March 2018 and the Tango website for further detailed Property information.

About Tango Mining Limited

The Company holds an interest in the Oena Diamond Mine, a producing alluvial diamond property located in the Northern Cape Province, Republic of South Africa. Tango has recently added to its diamond portfolio with the addition of the Middlepits Project, Republic of Botswana, Mano River Project, Republic of Liberia and the Moquita Project, Republic of Angola. Tango, via its Republic of South Africa subsidiaries, also holds three thermal coal, metallurgical, processing plant and engineering contracts that process 6.5 Mt of coal per annum, with client Exxaro. The three projects are located within the Ogies and Highveld coalfields, Mpumalanga Province and Kliprivier coalfield, KwaZulu-Natal Province, South Africa.

On behalf of the Tango Board of Directors

Mr. Samer Khalaf

Chief Executive Officer

Tango Mining Limited

info@tangomining.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statement

Certain information set forth in this news release contains “forward-looking statements” and “forward-looking information” under applicable securities laws. Except for statements of historical fact, certain information contained herein constitutes forward-looking statements, which include management’s assessment of future plans and operations and are based on current internal expectations, estimates, projections, assumptions and beliefs, which may prove to be incorrect. Some of the forward-looking statements may be identified by words such as “forecasts”, estimates”, “expects” “anticipates”, “believes”, “projects”, “plans”, “outlook”, “capacity” and similar expressions. These statements are not guarantees of future performance and undue reliance should not be placed on them.

Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause the Company’s actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to statements with respect to the estimation of mineral resources; the realization of mineral resource estimates; anticipated future production, capital and operating costs; cash flows and mine life; potential size of a mineralized zone; potential expansion of mineralization; potential types of mining operations; permitting timelines; government regulation of exploration and mining operations; risks that the presence of diamond deposits mentioned nearby the Company’s property are not indicative of the diamond mineralization on the Company’s property, the supply and demand for, deliveries of and the level and volatility of prices of rough diamonds, risks that the actual revenues will be less than projected; risks that the target production for the existing mining contracts will be less than projected or expected; risks that production will not commence as projected due to delay or inability to receive governmental approval of the Company’s acquisition or the timely completion of an NI 43-101 report; technical problems; inability of management to secure sales or third party purchase contracts; currency and interest rate fluctuations; foreign exchange fluctuations and foreign operations; mineral title; various events which could disrupt operations, including labour stoppages and severe weather conditions; and management’s ability to anticipate and manage the foregoing factors and risks.

The forward-looking statements and information contained in this news release are based on certain assumptions regarding, among other things, future prices for coal and diamonds; future currency and exchange rates; the Company’s ability to generate sufficient cash flow from operations and access capital markets to meet its future obligations; coal consumption levels; and the Company’s ability to retain qualified staff and equipment in a cost-efficient manner to meet its demand. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The reader is cautioned not to place undue reliance on forward-looking statements. The Company does not undertake to update any of the forward-looking statements contained in this news release unless required by law. The statements as to the Company’s capacity to achieve revenue are no assurance that it will achieve these levels of revenue.

The technical disclosure in this news release has been approved by Terry L. Tucker, P.Geo., Executive Chairman of the Company and a Qualified Person as defined by National Instrument 43-101 of the Canadian Securities Administrators.

 

 

TANGO PROVIDES 2018 FINANCIAL YEAR END OPERATION AND PRODUCTION UPDATE

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VANCOUVER, BRITISH COLUMBIA — 13 September 2018 – Tango Mining Limited (“Tango” or the “Company”) (TSXV:TGV) is pleased to provide a 2018 financial year end operational and production update on its diamond and coal project portfolio located in the Republic of South Africa, Botswana, Angola and recently added Liberia.

DIAMONDS – Oena, Republic of South Africa

 Tango – Mining and Processing Contractor

At the Oena Diamond Mine located in the Western Cape, appointed mining contractor, Bluedust 7 Proprietary Limited (“Bluedust”) has mobilized and commissioned mining and processing equipment commencing 16 November 2017.

Bluedust successfully recommenced production and recovered a total of 941 carats since January 2018 and have recently focussed their production on ROM material. Mining has primarily focused on what is known as the Oena Site and will shortly commence on the Blokwerf Site where Bluedust is currently mobilizing equipment. The following table provides a detailed breakdown of work on site since January 2018.

Oena continues to produce very high value diamonds including a 42.26 carat diamond recently that was sold for US$11,267 per carat.  Bluedust currently has 36 employees on site.

OENA MINE Jan-Feb Feb-Mar Mar-Apr Apr-May May-Jun Jun-Jul Jul-Aug Total
Mining Block Palio Channel Pothole & Rooikoppie Pothole & Rooikoppie & Oena Oos Pothole & Pothole Oena Oos &

Rooikoppie & Oena Oos Quarry

Pothole & Firestone Tailings & Oena Oos Quarry & Rooikoppie D/Barker Pothole & Oena Central & Oena Soccer Field Oena Central Soccer Field
Stripping Tons
Run of Mine (ROM) Tons 14,940 23,700 32,190 25,590 32,130 37,020 41,610 207,180
Total Mined Tons 14,940 23,700 32,190 25,590 32,130 37,020 41,610 207,180
Recovery Pan Tailings and Bantams
Total Carats Crt 52.05 36.65 10.80 1.27 0.65 0.00 0.00 101.42
Stones St 38 29 13 2 2 84
Average Stone Size Crt/St 1.37 1.26 0.83 0.64 0.33 1.21
Recovery Run of Mine (ROM)
Total Carats Crt 53.65 119.50 134.81 71.60 152.14 168.08 140.17 839.95
Stones St 38 77 120 60 93 83 76 547
Average Stone Size Crt/St 1.41 1.55 1.12 1.19 1.64 2.03 1.84 1.54

 

Bluedust Equipment – Oena Site Bluedust Equipment – Blokwerf Site
16 ft pan with headfeed bin

16 ft pan with headfeed bin

14 ft pan with headfeed bin

BVX sorting unit

Complete sorthouse with tailings belt

225 Kva Plant supply generator

Main water pump generator

60-ton Volvo excavator

46-ton Volvo excavator

25-ton Bell excavator

3 x 30-ton Volvo ADT dump trucks

2 x 30-ton Bell ADT dump trucks

3 x 958 Foton frond end loaders

2 x Infield power screens

16 ft pan with headfeed bin

Dewatering screen

Desanding screen with product belt

250 tph infield barrel screen

175 Kva Generator

 

 Tango – African Star Minerals (“ASM”)

During the course of the year, Tango through its local subsidiary, ASM, acquired an additional pan plant (the “Plant”) with a 120 tonne per hour (“tph”) capacity to be used to process Tailings left on site from previous mining operations. The Plant began commissioning in June 2018 and is ready to begin processing material. Start of production has been delayed due to the 260 KVA diesel generators that was purchased and has had to be replaced, delaying commissioning of the operation. New piping and water pipe were also purchased and are onsite and ready to be installed. A mobile screening unit and earth moving equipment will be mobilized to site to support the Plant operations and this is anticipated to occur prior to the end of 2018. ASM currently has 8 employees on site.

ASM Equipment – Oena Site  
Double 16 ft pan

Headfeed bin with belt

Desanding screen

Desanding belt

Pan feed belt

Dewatering screen

Tailings belt with tailings bin

Vertical spindle puddle pumps

260 Kva Generator complete in container

97000 L Water dam

Water pump from dam to pans

22kw Main water supply pump

1.3 km water supply pipeline

Complete Grease recovery (Pre-Build)

8 x Concentrate bins

 

 

Important Notice: The Company will no longer publish monthly Oena diamond sales information and will publish quarterly sales information moving forward.

DIAMONDS – Middlepits Project, Republic of Botswana

 The Middlepits Project is located 470 kilometers (km) south west of Gaborone and 90 km south west of Tshabong in the Kgalagadi District, Botswana and consists of two Prospecting Licenses (“PLs”) that were explored between 1974 and 1976 by De Beers, between 1978 and 1980 by Falconbridge and between 1993 and 1997 by Southern Africa Minerals Corporation.

Metswedi Mining (Pty) Limited has advised Tango that it is still in the process of renewal of PL101 (429 km2) and PL58 (2.3 km2). Closing of the transaction is subject to the renewal of the PLs and Tango has not completed any work on the property to date given the PLs have not been renewed as of today’s date.

DIAMONDS – Moquita Project, Republic of Angola

Tango has signed a Services Agreement for Mining and Marketing of Diamonds with Cooperativa Mineira Do Moquita, SCRL (“Moquita”) on a 147 km2 portion of a concession located 50 km north of Lucapa within the Lauchimo River basin, Province of Lunda Norte, Republic of Angola. Tango is responsible for capital expenditures associated with alluvial diamond mine design and equipment acquisition as well as enhancing production. As remuneration, Tango will receive 60% of the proceeds from the sale of produced diamonds.

Tango has created a strategic funding partnership with CC Mining Limited (“CCML”), a member of Consolidated Contractors Company Group which is one of the world’s largest diversified international engineering and construction companies active in over 50 countries and across five continents and with total revenue in 2017 of US$6 billion. This funding and technical partnership has initially focussed on funding the Services Agreement with Moquita.

DIAMONDS – Mano River Project, Republic of Liberia

Tango has signed an acquisition agreement to acquire an 80% unencumbered interest in the Mano River Project consisting of one recently granted 104.3 km2 diamond mineral exploration license located in the western part of Republic of Liberia. This portion of Liberia is well known for the wide spread occurrence of alluvial diamonds and the known presence of kimberlites.

COAL – Metallurgical and Mining Projects, Republic of South Africa

Tango currently has 254 employees in its coal business, working on behalf of three engineering contracts the Company has with Exxaro Coal Central (ECC) Propriety Limited`s thermal coal, metallurgical and processing plants. These three processing plants currently process a combined 6.5 million tonnes per annum (“tpa”) at the Dorstfontein West, Dorstfontein East and Forzando mines located 120 km east of Johannesburg, Republic of South Africa. The three contracts were awarded in 2017 and are subject to renegotiation and renewal in June 2020.

The Company continues to evaluate a number of opportunities to expand this part of its business.

Health, Safety and Environmental:

No reportable incidents recorded on ECC Operations for the 4th quarter.

Production:

Three months June 2018 to August 2018 ROM and Discard throughput for the three ECC operations:

Actual

(t)

Budget

(t)

Variance (t) Comments
Dorstfontein East 622 310 695 282 -72 972 Coal supply issues from Opencast Pit
Dorstfontein West 272 902 271 452 1 450
Forzando 846 604 854 977 -8 373 Coal supply issues from Underground Mining

Twelve months September 2017 to August 2018 ROM and Discard throughput for the three ECC operations:

Actual

(t)

Budget

(t)

Variance (t) Comments
Dorstfontein East 2 385 659 2 679 722 -294 063 Coal supply issues from Opencast Pit
Dorstfontein West 1 082 800 1 031 433 51 367
Forzando 3 324 199 3 370 020 -45 821 Coal supply issues from Underground Mining
Total 6 792 658 7 081 175 -288 517

 Recognitions in the past three months:

Following ISO and OHSAS surveillance audits the operations were credited with the following:

  • Successful transition to ISO 14001: 2015 and retaining of certification.
  • Retaining of OHSAS 18001:2001 certification.

Safety Awards:

  • Dorstfontein East achieved 36 months lost time injury free.
  • Dorstfontein East achieved 7 000 fatality free shifts.
  • Dorstfontein West achieved 6 months lost time injury free.
  • Forzando achieved 30 months lost time injury free.
  • Forzando achieved 20 000 fatality free shifts.

On behalf of the Tango Board of Directors

Mr. Samer Khalaf

Chief Executive Officer

Tango Mining Limited

info@tangomining.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statement

Certain information set forth in this news release contains “forward-looking statements” and “forward-looking information” under applicable securities laws. Except for statements of historical fact, certain information contained herein constitutes forward-looking statements, which include management’s assessment of future plans and operations and are based on current internal expectations, estimates, projections, assumptions and beliefs, which may prove to be incorrect. Some of the forward-looking statements may be identified by words such as “forecasts”, estimates”, “expects” “anticipates”, “believes”, “projects”, “plans”, “outlook”, “capacity” and similar expressions. These statements are not guarantees of future performance and undue reliance should not be placed on them.

Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause the Company’s actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to statements with respect to the estimation of mineral resources; the realization of mineral resource estimates; anticipated future production, capital and operating costs; cash flows and mine life; potential size of a mineralized zone; potential expansion of mineralization; potential types of mining operations; permitting timelines; government regulation of exploration and mining operations; risks that the presence of diamond deposits mentioned nearby the Company’s property are not indicative of the diamond mineralization on the Company’s property, the supply and demand for, deliveries of and the level and volatility of prices of rough diamonds, risks that the actual revenues will be less than projected; risks that the target production for the existing mining contracts will be less than projected or expected; risks that production will not commence as projected due to delay or inability to receive governmental approval of the Company’s acquisition or the timely completion of an NI43-101 report; technical problems; inability of management to secure sales or third party purchase contracts; currency and interest rate fluctuations; foreign exchange fluctuations and foreign operations; mineral title; various events which could disrupt operations, including labour stoppages and severe weather conditions; and management’s ability to anticipate and manage the foregoing factors and risks.

The forward-looking statements and information contained in this news release are based on certain assumptions regarding, among other things, future prices for coal and diamonds; future currency and exchange rates; the Company’s ability to generate sufficient cash flow from operations and access capital markets to meet its future obligations; coal consumption levels; and the Company’s ability to retain qualified staff and equipment in a cost-efficient manner to meet its demand. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The reader is cautioned not to place undue reliance on forward-looking statements. The Company does not undertake to update any of the forward-looking statements contained in this news release unless required by law. The statements as to the Company’s capacity to achieve revenue are no assurance that it will achieve these levels of revenue.

The technical disclosure in this news release has been approved by Terry L. Tucker, P.Geo., Executive Chairman of the Company and a Qualified Person as defined by National Instrument 43-101 of the Canadian Securities Administrators.

TANGO ANNOUNCES US$500,000 PROJECT DEVELOPMENT LOAN FACILITY SIGNED WITH CC MINING LIMITED

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VANCOUVER, BRITISH COLUMBIA — 12 September 2018 – Tango Mining Limited (“Tango” or the “Company”) (TSXV:TGV) is pleased to announce that CC Mining Limited (“CCML”) has provided to Tango two US dollar term loan facilities for an aggregate of US$500,000, (collectively the “Loans”) to be solely used to fund both the capital and operating costs required for the mining of diamonds in Angola on the Moquita Project (the “Project”) (see news release dated 11 September 2018). Tango is responsible for alluvial mine design and equipment acquisition, as well as enhancement of production. As remuneration, Tango will receive 60% of the net proceeds from the sale of diamonds, after deduction of Tango’s costs. The budget for “Phase 1” work is US$500,000 and it is anticipated that no further funding will be required.

Tango has entered into a Phase 1 Corporate Loan Agreement whereby CCML will provide a US dollar term loan facility for up to US$250,000 (the “Corporate Loan Agreement”) bearing interest at the rate of 15% per annum, payable monthly. Tango has also entered into a Phase 1 Equity Loan Agreement whereby CCML will provide a US dollar term loan facility for up to US$250,000 (the “Equity Loan Agreement”), pursuant to which 50% of the proceeds received from the sale of diamonds recovered from the Project will be paid to CCML in lieu of interest. As security for the Loans, the Company has agreed to a bank account charge over a project specific bank account and a security assignment over the Project, both in favour of CCML.

The Company has also agreed to form a joint venture with CCML, in the event that CCML exercises its right to participate in the Phase 2 development plan of the Project, which would include an expansion and increase in production on the Property. If the joint venture is created, CCML will provide a loan facility to the joint venture to carry out the Phase 2 capital and development requirements.

About CC Mining Limited (“CCML”)

CC Mining Limited is a member of CC Energy Limited (“CCEL”) Group. CCEL is an independent and privately-owned upstream oil and gas exploration & production (“E&P”) company which has E&P assets in the United States of America, Yemen, Palestine and the Sultanate of Oman with current production of c.40,000 bopd. CCEL is an associate of the Consolidated Contractors Company (“CCC”) Group. CCC was created in 1952 and has since became one of the world’s largest diversified international engineering and construction company active in over 50 countries and across five continents. CCC’s portfolio includes oil and gas, heavy civil, buildings, infrastructure, mining, energy power and real estate. CCC successfully executes challenging projects in the remotest locations of the world with over 120,000 employees of over eighty nationalities and is currently ranked 19th of 225 international contractors by international revenue by the Engineering News-Record. Total revenue managed by the CCC Group in 2017 was US$6 Billion.

About Tango Mining Limited

Tango, via its Republic of South Africa subsidiaries, holds three thermal coal, metallurgical, processing plant and engineering contracts that process 6.5 Mt of coal per annum, with client Exxaro. The three projects are located within the Ogies and Highveld coalfields, Mpumalanga Province and Kliprivier coalfield, KwaZulu-Natal Province, South Africa. The Company also holds an interest in the Oena Diamond Mine, a producing alluvial diamond property located in the Northern Cape Province, Republic of South Africa. Tango has an agreement on the diamond Middlepits Project in Republic Botswana and has recently announced the acquisition of a new diamond project in the Republic of Liberia called the Mano River Project.

On behalf of the Board of Directors of Tango Mining Limited

Mr. Samer Khalaf

Chief Executive Officer

info@tangomining.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statement

Certain information set forth in this news release contains “forward-looking statements” and “forward-looking information” under applicable securities laws. Except for statements of historical fact, certain information contained herein constitutes forward-looking statements, which include management’s assessment of future plans and operations and are based on current internal expectations, estimates, projections, assumptions and beliefs, which may prove to be incorrect. Some of the forward-looking statements may be identified by words such as “forecasts”, estimates”, “expects” “anticipates”, “believes”, “projects”, “plans”, “outlook”, “capacity” and similar expressions. These statements are not guarantees of future performance and undue reliance should not be placed on them.

Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause the Company’s actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to statements with respect to the estimation of mineral resources; the realization of mineral resource estimates; anticipated future production, capital and operating costs; cash flows and mine life; potential size of a mineralized zone; potential expansion of mineralization; potential types of mining operations; permitting timelines; government regulation of exploration and mining operations; risks that the presence of diamond deposits mentioned nearby the Company’s property are not indicative of the diamond mineralization on the Company’s property, the supply and demand for, deliveries of and the level and volatility of prices of rough diamonds, risks that the actual revenues will be less than projected; risks that the target production for the existing mining contracts will be less than projected or expected; risks that production will not commence as projected due to delay or inability to receive governmental approval of the Company’s acquisition or the timely completion of an NI43-101 report; risk that the budget for Phase 1 of the Project will not be sufficient to put the Project into production; technical problems; inability of management to secure sales or third party purchase contracts; currency and interest rate fluctuations; foreign exchange fluctuations and foreign operations; various events which could disrupt operations, including labor stoppages and severe weather conditions; and management’s ability to anticipate and manage the foregoing factors and risks.

The forward-looking statements and information contained in this news release are based on certain assumptions regarding, among other things, future prices for coal and diamonds; future currency and exchange rates; the Company’s ability to generate sufficient cash flow from operations and access capital markets to meet its future obligations; coal consumption levels; and the Company’s ability to retain qualified staff and equipment in a cost-efficient manner to meet its demand. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The reader is cautioned not to place undue reliance on forward-looking statements. The Company does not undertake to update any of the forward-looking statements contained in this news release unless required by law. The statements as to the Company’s capacity to achieve revenue are no assurance that it will achieve these levels of revenue.

 

 

TANGO SIGNS SERVICE AGREEMENT ON ANGOLA ALLUVIAL DIAMOND PROJECT

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VANCOUVER, BRITISH COLUMBIA — 11 September 2018 – Tango Mining Limited (“Tango” or the “Company”) (TSXV:TGV) is pleased to announce that it has signed a Services Agreement for Mining and Marketing of Diamonds with Cooperativa Mineira Do Moquita, SCRL (“Moquita”) on a 147 square kilometer (“km”) portion of a concession located 50 km north of Lucapa within the Lauchimo River basin, Province of Lunda Norte, Republic of Angola (the “Property”).

Tango is responsible for capital expenditures associated with alluvial diamond mine design and equipment acquisition as well as enhancing production. As remuneration, Tango will receive 60% of the proceeds from the sale of produced diamonds.

The Moquita Property

The Property is located approximately 50 km downstream from the high diamond value Camútuè kimberlites. These, and possibly other kimberlites, have fed extensive downstream alluvial diamond deposits along ancient, north trending river systems including the Lauchimo River, which flows south to north across the Property. Such alluvial diamond deposits have been exploited by artisanal miners and a number of companies for many years; however, the area is still considered relatively undeveloped given the Property’s diamond potential.

Due to their higher specific gravity, alluvial diamonds are concentrated in basal gravel horizons of various ages. The most widespread and important such gravel in Angola is the late Cretaceous Calonda Formation; however, diamonds also occur in younger, Plio-Pleistocene and Recent river gravels and terraces. All of these depositional settings are present on the Property. During 2016 and 2017, Moquita carried out a bulk sampling program on the Property to test the diamond quantity and quality of Calonda Formation gravels in three areas. A small pan plant and associated equipment was mobilized to site and the bulk sample program was successful in achieving this objective. Tango plans to recommence bulk sampling and trial alluvial diamond production as soon as practical with the implementation of an updated project development plan and strategy.

The Somiluana Mine, located 38 km southeast of the Property and partially owned by the Trans Hex Group, mines similar Calonda Formation gravels as those found on the Property. The Trans Hex Group, for the financial year ending 31 March 2018, produced 136,402 carats, which were sold at an average price of US$504 per carat. The Somiluana Mine continues an aggressive drilling programme in order to identify new resources in Calonda Formation gravels, as well as terraces and floodplains. Production results and geological work through drilling and bulk sampling indicate that carat production for the 2019 financial year is expected to be in the order of 145,000 carats (Trans Hex Group Annual Report 2018).

On behalf of the Tango Mining Limited Board of Directors

Mr. Samer Khalaf

Chief Executive Officer

Tango Mining Limited

info@tangomining.com

The technical disclosure in this news release has been approved by Terry L. Tucker, P.Geo., Executive Chairman of the Company and a Qualified Person as defined by National Instrument 43-101 of the Canadian Securities Administrators. 

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statement

Certain information set forth in this news release contains “forward-looking statements” and “forward-looking information” under applicable securities laws. Except for statements of historical fact, certain information contained herein constitutes forward-looking statements, which include management’s assessment of future plans and operations and are based on current internal expectations, estimates, projections, assumptions and beliefs, which may prove to be incorrect. Some of the forward-looking statements may be identified by words such as “forecasts”, estimates”, “expects” “anticipates”, “believes”, “projects”, “plans”, “outlook”, “capacity” and similar expressions. These statements are not guarantees of future performance and undue reliance should not be placed on them.

 Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause the Company’s actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to statements with respect to the estimation of mineral resources; the realization of mineral resource estimates; anticipated future production, capital and operating costs; cash flows and mine life; potential size of a mineralized zone; potential expansion of mineralization; potential types of mining operations; permitting timelines; government regulation of exploration and mining operations; risks that the presence of diamond deposits mentioned nearby the Company’s property are not indicative of the diamond mineralization on the Company’s property, the supply and demand for, deliveries of and the level and volatility of prices of rough diamonds, risks that the actual revenues will be less than projected; risks that the target production for the existing mining contracts will be less than projected or expected; risks that production will not commence as projected due to delay or inability to receive governmental approval of the Company’s acquisition or the timely completion of an NI43-101 report; technical problems; inability of management to secure sales or third party purchase contracts; currency and interest rate fluctuations; foreign exchange fluctuations and foreign operations; mineral title; various events which could disrupt operations, including labour stoppages and severe weather conditions; and management’s ability to anticipate and manage the foregoing factors and risks.

 The forward-looking statements and information contained in this news release are based on certain assumptions regarding, among other things, future prices for coal and diamonds; future currency and exchange rates; the Company’s ability to generate sufficient cash flow from operations and access capital markets to meet its future obligations; coal consumption levels; and the Company’s ability to retain qualified staff and equipment in a cost-efficient manner to meet its demand. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The reader is cautioned not to place undue reliance on forward-looking statements. The Company does not undertake to update any of the forward-looking statements contained in this news release unless required by law. The statements as to the Company’s capacity to achieve revenue are no assurance that it will achieve these levels of revenue.

 

TANGO ANNOUNCES ACQUISITON OF THE MANO RIVER PROJECT, REPUBLIC OF LIBERIA

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VANCOUVER, BRITISH COLUMBIA — 10 September 2018 – Tango Mining Limited (“Tango” or the “Company”) (TSXV:TGV) is pleased to announce that it has signed an acquisition agreement to acquire an 80% unencumbered interest in the Mano River Project (the “Property”) from West Mining Ltd (“WML”), Republic of Liberia. The Property consists of one recently granted 104.3 square kilometer (“km”) diamond mineral exploration license located in the western part of Republic of Liberia. This portion of Liberia is well known for the wide spread occurrence of alluvial diamonds and the known presence of kimberlites.

Mano River Project

The Property is underlain by Precambrian rocks of Archean age within what is known as the Leo-Man Shield. During the 1960s and early 1970s, a joint program between the Liberian Geological Survey (“LGS”) and the United States Geological Survey (“USGS”), collected a significant amount of topographic, airborne magnetic and radiometric data covering the entire country. This resulted in an excellent digital regional exploration database to support future exploration work.

The exploration results importantly identified that the geology of Liberia is very favorable for the occurrence of a wide range of metals and minerals, including gold and diamonds. The LGS and USGS documented approximately 160 kimberlite occurrences in central and western Liberia. Due to the lack of bedrock exposure, access and vegetation, further follow up work was difficult. Since the 1980s, exploration for diamond bearing kimberlites has increased significantly and a number of distinct kimberlite clusters have been identified in western Liberia around the Property. This includes Kumgbor, Mano Godua and Weasua and the most important recent discovery, approximately 25 km north of the Property is an area with three identified kimberlites, known as Camp Alpha, which is being explored by a private US funded company.

The Property is underlain by favorable basement geology and within a part of Liberia that is well known for the wide spread occurrence of alluvial diamonds and the known presence of kimberlites but there has been little systematic modern exploration.

The largest active gold mine in Liberia, called the New Liberty Gold Mine, operated by Avesoro Resources (LSE and TSX listed), is located 45 km south west of the Property and commenced production in 2015.

Transaction

Mineral Exploration License MEL7003018 (MEL) was granted on the 7 September 2018 and expires 7 September 2021. Upon completion of the acquisition of MEL, to be completed by 31 October 2018, the Company shall develop an exploration program by the end of Q1 2019 and carry out the work on the Property. This exploration work is expected to consist of geological and structural mapping, sampling and ground geophysical surveys. As consideration for the acquisition of the 80% interest in the Property, the Company shall assume all holding costs and WML will provide full local support and assistance to Tango within the Republic of Liberia.

On behalf of the Tango Mining Limited Board of Directors

Mr. Samer Khalaf

Chief Executive Officer

Tango Mining Limited

info@tangomining.com

The technical disclosure in this news release has been approved by Terry L. Tucker, P.Geo., Executive Chairman of the Company and a Qualified Person as defined by National Instrument 43-101 of the Canadian Securities Administrators.

 Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

Forward-Looking Statement

Certain information set forth in this news release contains “forward-looking statements” and “forward-looking information” under applicable securities laws. Except for statements of historical fact, certain information contained herein constitutes forward-looking statements, which include management’s assessment of future plans and operations and are based on current internal expectations, estimates, projections, assumptions and beliefs, which may prove to be incorrect. Some of the forward-looking statements may be identified by words such as “forecasts”, estimates”, “expects” “anticipates”, “believes”, “projects”, “plans”, “outlook”, “capacity” and similar expressions. These statements are not guarantees of future performance and undue reliance should not be placed on them.

 Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause the Company’s actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to statements with respect to the estimation of mineral resources; the realization of mineral resource estimates; anticipated future production, capital and operating costs; cash flows and mine life; potential size of a mineralized zone; potential expansion of mineralization; potential types of mining operations; permitting timelines; government regulation of exploration and mining operations; risks that the presence of diamond deposits mentioned nearby the Company’s property are not indicative of the diamond mineralization on the Company’s property, the supply and demand for, deliveries of and the level and volatility of prices of rough diamonds, risks that the actual revenues will be less than projected; risks that the target production for the existing mining contracts will be less than projected or expected; risks that production will not commence as projected due to delay or inability to receive governmental approval of the Company’s acquisition or the timely completion of an NI43-101 report; technical problems; inability of management to secure sales or third party purchase contracts; currency and interest rate fluctuations; foreign exchange fluctuations and foreign operations; mineral title; various events which could disrupt operations, including labour stoppages and severe weather conditions; and management’s ability to anticipate and manage the foregoing factors and risks.

 The forward-looking statements and information contained in this news release are based on certain assumptions regarding, among other things, future prices for coal and diamonds; future currency and exchange rates; the Company’s ability to generate sufficient cash flow from operations and access capital markets to meet its future obligations; coal consumption levels; and the Company’s ability to retain qualified staff and equipment in a cost-efficient manner to meet its demand. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The reader is cautioned not to place undue reliance on forward-looking statements. The Company does not undertake to update any of the forward-looking statements contained in this news release unless required by law. The statements as to the Company’s capacity to achieve revenue are no assurance that it will achieve these levels of revenue.

TANGO DIAMOND SALES FROM OENA DIAMOND MINE, SOUTH AFRICA

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VANCOUVER, BRITISH COLUMBIA — 27 August 2018 – Tango Mining Limited (“Tango” or the “Company”) (TSXV:TGV) is pleased to provide an update on diamond sales results from the Oena Diamond Mine, Republic of South Africa (“Oena”). During the most recent production period ending 15 August 2018, a total of 140 carats (76 diamonds) were produced, placed on tender in Kimberley and sold with an average price of US$1,421 per carat. This includes a 6.41 carat diamond which sold at US$5,443 per carat.

Diamond production from Oena, since acquisition, including production from both run of mine (“ROM”) material as well as pan tailings, now totals 2,327 carats that have been sold at an average price of US$1,298 per carat. A total of 41,610 tonnes of ROM material was processed during the most recent production period.

On behalf of the Board of Directors of Tango Mining Limited
Samer Khalaf
Chief Executive Officer

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

TANGO SELLS 42.26 CARAT DIAMOND FOR $11,267 PER CARAT FROM OENA DIAMOND MINE

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VANCOUVER, BRITISH COLUMBIA — 27 July 2018 – Tango Mining Limited (“Tango” or the “Company”) (TSXV:TGV) is pleased to announce that it has sold the 42.26 carat diamond recovered from run of mine gravel (“ROM”) in the Oena Central Area, Oena Diamond Mine, Republic of South Africa (“Oena”). The diamond was sold on tender at the Kimberley Diamond Exchange for US$11,267 per carat.

During the most recent production period, ending 19 July 2018, an additional 125.87 carats (82 diamonds) were produced from ROM, placed on tender and sold with an average price of US$945 per carat. This includes a 10.48 and a 7.17 carat diamond which sold at US$2,374 and US$3,600 per carat respectively. Total diamond production was 168.13 carats (83 diamonds), from 37,020 tonnes of ROM material processed by Bluedust 7 Proprietary Limited, during the most recent production period.

Diamond production from Oena, since acquisition, including production from both ROM material, as well as pan tailings and bantam material, now totals 2019 carats. These diamonds have been sold at an average price of US$1,290 per carat and highlights the production history of Oena which is known to produce high quality and large sized diamonds.

 On behalf of the Board of Directors of Tango Mining Limited

Samer Khalaf

Chief Executive Officer

info@tangomining.com

 

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

42.25 CARAT DIAMOND RECOVERED FROM OENA DIAMOND MINE

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VANCOUVER, BRITISH COLUMBIA — 20 July 2018 – Tango Mining Limited (“Tango” or the “Company”) is pleased to announce the recovery of a 42.25 carat diamond from run of mine gravel at Oena Diamond Mine (“Oena”), South Africa. The 42.25 carat diamond was recovered from the Oena Central Area and highlights the production history of Oena which is known to produce high quality and large sized diamonds. The diamond will be sold at the Kimberley Diamond Exchange commencing on 20 August 2018.

Mr. Samer Khalaf
Chief Executive Officer
Tango Mining Limited
info@tangomining.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

TANGO UPDATE ON COAL OPERATIONS

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VANCOUVER, BRITISH COLUMBIA — 27 June 2018 – Tango Mining Limited (“Tango” or the “Company”) is pleased to provide an update for the period of 1 December, 2017 to 31 May, 2018 on its three Operation and Maintenance of Coal Processing Plant agreements with Exxaro Coal Central Propriety Limited (ECC). The agreements for the Dorstfonein East (DCME), Dorstfonein West (DCMW) and Forzando (FZN) coal mines are handled via Tango’s South African subsidiary, Kwena Mining Projects (Pty) Ltd.

HEALTH, SAFETY & ENVIRONMENT:

  • Kwena had no reportable incidents recorded on ECC mines for the six month period
  • A Safety Award was given to all ECC Operations and all its contractors for achieving a full financial year without any fatalities throughout the group.

PRODUCTION:

Six month ROM and Discard throughput for the three ECC operations:

Actual (t) Budget (t) Variance (t) Comments
DCME 1,102,850 1 271 018 (168 168) Coal supply issues from Opencast Pit
DCMW 513 011 510 340 2 671
FZN 1 559 733 1 666 749 (107 016) Coal supply problem from underground

HUMAN RESOURCES:

Number of full time employees: 231

Number of Contract employees: 23

AWARDS & RECOGNITIONS:

Bongani Vilakazi – awarded CTC (Colliery Training Centre) Advanced Coal Preparation Student of the Year.  Overall result 90%.

The following Kwena employees received recognition awards from ECC management for outstanding work carried out during projects with no incidents or injuries recorded during the implementation of the projects:

Dorstfontein West:  J Gallagher (General Engineering Superintendent), S Coombe (Plant Manager)

Dorstfontein East:  J Shoobert (Electrical Foreman)

Forzando:  V Nel (Plant Engineer), J Coetzee (Plant Manager)

 ADDITIONAL CONVEYER INSTALLED:

An additional product conveyor was successfully installed at the DCME plant so that the washed product from the rewash of discard is stockpiled separately from the product produced from the raw ROM coal. This eliminates any product contamination and simplifies the process flow of the two products produced. In case of a shortage of raw coal supply, Tango is able to substitute the raw coal with discard and in doing so can maintain the tonnage through the plant at or close to the budgeted throughput.

Mr. Samer Khalaf

Chief Executive Officer

Tango Mining Limited

info@tangomining.com

 

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statement

Certain information set forth in this news release contains “forward-looking statements” and “forward-looking information” under applicable securities laws. Except for statements of historical fact, certain information contained herein constitutes forward-looking statements, which include management’s assessment of future plans and operations and are based on current internal expectations, estimates, projections, assumptions and beliefs, which may prove to be incorrect. Some of the forward-looking statements may be identified by words such as “forecasts”, estimates”, “expects” “anticipates”, “believes”, “projects”, “plans”, “outlook”, “capacity” and similar expressions. These statements are not guarantees of future performance and undue reliance should not be placed on them.

Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause the Company’s actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to statements with respect to the estimation of mineral resources; the realization of mineral resource estimates; anticipated future production, capital and operating costs; cash flows and mine life; potential size of a mineralized zone; potential expansion of mineralization; potential types of mining operations; permitting timelines; government regulation of exploration and mining operations; risks that the presence of diamond deposits mentioned nearby the Company’s property are not indicative of the diamond mineralization on the Company’s property, the supply and demand for, deliveries of and the level and volatility of prices of rough diamonds, risks that the actual revenues will be less than projected; risks that the target production for the existing mining contracts will be less than projected or expected; risks that production will not commence as projected due to delay or inability to receive governmental approval of the Company’s acquisition or the timely completion of an NI43-101 report; technical problems; inability of management to secure sales or third party purchase contracts; currency and interest rate fluctuations; foreign exchange fluctuations and foreign operations; various events which could disrupt operations, including labor stoppages and severe weather conditions; and management’s ability to anticipate and manage the foregoing factors and risks.

The forward-looking statements and information contained in this news release are based on certain assumptions regarding, among other things, future prices for coal and diamonds; future currency and exchange rates; the Company’s ability to generate sufficient cash flow from operations and access capital markets to meet its future obligations; coal consumption levels; and the Company’s ability to retain qualified staff and equipment in a cost-efficient manner to meet its demand. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The reader is cautioned not to place undue reliance on forward-looking statements. The Company does not undertake to update any of the forward-looking statements contained in this news release unless required by law. The statements as to the Company’s capacity to achieve revenue are no assurance that it will achieve these levels of revenue.

TANGO ACQUIRES AND MOBILISED PROCESSING EQUIPMENT TO OENA DIAMOND MINE

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VANCOUVER, BRITISH COLUMBIA — 25 June 2018 – Tango Mining Limited (“Tango” or the “Company”) is pleased to announce that it has acquired and mobilised a processing plant consisting of two sixteen foot pans with a combined capacity of 120 tons per hour (the “Plant”), to the Oena Diamond Mine (“Oena”). The Plant, including a newly purchased 260 KVA diesel generator, will be used to process pan tailings and bantam material (“Tailings”) left on site from previous mining operations.

As announced on 20 April 2018, commissioning of the Plant is on schedule and will begin on 27 June 2018. Diamonds recovered from this processing operation will be for the account of the Company.

The Plant will be used in conjunction with Bluedust 7 Proprietary Limited’s (“Bluedust”) existing mining and processing equipment on site to increase production capacity, specifically focused on Tailings. Bluedust continues its activities on the Property as per their contract terms (see news releases dated 2 May 2018, 10 October and 16 November 2017).

Mr. Samer Khalaf

Chief Executive Officer

Tango Mining Limited

info@tangomining.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statement

 

Certain information set forth in this news release contains “forward-looking statements” and “forward-looking information” under applicable securities laws. Except for statements of historical fact, certain information contained herein constitutes forward-looking statements, which include management’s assessment of future plans and operations and are based on current internal expectations, estimates, projections, assumptions and beliefs, which may prove to be incorrect. Some of the forward-looking statements may be identified by words such as “forecasts”, estimates”, “expects” “anticipates”, “believes”, “projects”, “plans”, “outlook”, “capacity” and similar expressions. These statements are not guarantees of future performance and undue reliance should not be placed on them.

 

Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause the Company’s actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to statements with respect to the estimation of mineral resources; the realization of mineral resource estimates; anticipated future production, capital and operating costs; cash flows and mine life; potential size of a mineralized zone; potential expansion of mineralization; potential types of mining operations; permitting timelines; government regulation of exploration and mining operations; risks that the presence of diamond deposits mentioned nearby the Company’s property are not indicative of the diamond mineralization on the Company’s property, the supply and demand for, deliveries of and the level and volatility of prices of rough diamonds, risks that the actual revenues will be less than projected; risks that the target production for the existing mining contracts will be less than projected or expected; risks that production will not commence as projected due to delay or inability to receive governmental approval of the Company’s acquisition or the timely completion of an NI43-101 report; technical problems; inability of management to secure sales or third party purchase contracts; currency and interest rate fluctuations; foreign exchange fluctuations and foreign operations; various events which could disrupt operations, including labor stoppages and severe weather conditions; and management’s ability to anticipate and manage the foregoing factors and risks.

 

The forward-looking statements and information contained in this news release are based on certain assumptions regarding, among other things, future prices for coal and diamonds; future currency and exchange rates; the Company’s ability to generate sufficient cash flow from operations and access capital markets to meet its future obligations; coal consumption levels; and the Company’s ability to retain qualified staff and equipment in a cost-efficient manner to meet its demand. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The reader is cautioned not to place undue reliance on forward-looking statements. The Company does not undertake to update any of the forward-looking statements contained in this news release unless required by law. The statements as to the Company’s capacity to achieve revenue are no assurance that it will achieve these levels of revenue.