1

Diamonds – Oena

2

Coal – Metallurgical & Mining Projects

3

Diamonds – Middlepits

4

Diamonds – Moquita

5

Diamonds – Mano River

Diamonds – Middlepits

Diamonds Middlepits Map

Location

The Middlepits Project (the “Property”) consists of two Prospecting Licenses (“PLs”) PL101 and PL58 and is located 470 kilometers (km) south west of Gaborone and 90 km south west of Tshabong in the Kgalagadi District, Republic of Botswana.

Ownership

Tango will acquire an 75% unencumbered interest in the Property from Metswedi Mining (Pty) Ltd (“Metswedi”). Closing of the transaction is subject to the renewal of the Property. PL101 covers 876 km2, upon renewal will cover 429 km2, and will be valid for two years, with a further option to renew. PL58 covers a total area of 2.3 km2 and is located immediately south east and adjacent to PL101. Tango will be responsible for all further exploration and development expenditures on the Property upon Closing.

Diamonds Middlepits Map 2

Geology and Deposit Type

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 exploration work by De Beers identified an occurrence of diamondiferous gravels in the center of the PL101. The diamondiferous gravels were evaluated by both hand augering and digging and were then screened and processed for diamonds and heavy minerals. The work resulted in the identification of a 100 square km area of river terrace gravels containing diamonds and heavy mineral concentrations, garnets and ilmenites. The diamond content of the gravels has never been assessed systematically, however diamonds of up to 0.55 carats were recovered. The source of diamonds in the gravels is not known but it could be

  • the Molopo kimberlite cluster located immediately to the north east or;
  • Falconbridge and Botswana Government airborne geophysics over the Property have defined geophysical targets which may be kimberlites and the source of the diamonds.

PL58 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.

Additional exploration work is required to advance the both the Kolonkwaneng kimberlite and diamondiferous gravels and Tango`s technical team will undertake to work with Metswedi to develop a comprehensive exploration and development program for the Property upon Closing.

Project Status

Metswedi 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.

Additional exploration work is required to advance the both the Kolonkwaneng kimberlite and diamondiferous gravels on the Property and Tango`s technical team will undertake to work with Metswedi to develop a comprehensive exploration and development program for the Property upon Closing.

© Copyright Tango Mining Limited – Design by Magiweb