AMN - NAMIBIA: Broadway acquires land package

Broadway Gold Mining is expanding its effort to identify world-class deposits and has acquired an 85% interest in an extensive land package in Namibia. This land is known for hosting large high-grade polymetallic deposits and stratabound copper-silver-cobalt deposits as well as unique deposits of gold, vanadium, germanium and uranium.

The Tsumeb West development property includes the past-producing Tsumeb Mine and numerous copper targets on strike to the historical Uris and producing Tschudi mines.

Ten separate vanadate mineralised prospects and past-producing mines are situated within the extensive land package west of the Tsumeb Mine.

Namibia is a mineral-rich country with world-class base-metal and uranium deposits and Broadway's management team has successfully worked in the country for over 19 years, delivering a number of unique opportunities to shareholders.

The acquisition represents the first time this extensive land package has been assembled by a junior resource company with exploration and development focus.

Executive chairman Duane Parnham said: "Over the years, Namibia has grown into an excellent, development-friendly jurisdiction with mining companies like B2 Gold, Dundee and others successfully operating in the country, and we look forward to establishing a strong exploration presence.

"We believe our access to the Tsumeb mining camp will give us another opportunity to show that we can upgrade a promising project to development or alternatively attract a major partner like Kennecott, a division of Rio Tinto, at our Madison copper project located southeast of Butte, Montana."

Four Exploration Prospecting Licences have been purchased with known mineralisation over a total strike length of 30km west of Tsumeb, Namibia.

Within these licences, which cover 56.3sqkm, 10 former vanadium mines and prospects occur as well as three former copper mines, five of which produced unknown amounts of vanadium in the early half of the 20th Century.

All the past-producing mines and prospects on the EPLs are hosted in the Tsumeb Super Group and include the Alt Bobos, Bobosberg N and S, Torassen, Uris, Karavatu, Tsumeb West, Tsumeb and Freisenberg mines.

The four EPLs also cover numerous copper occurrences that extend from and surround the Tschudi copper mine and this copper horizon extends east to the Tsumeb Mine, which produced 30 million tonnes of 10% lead, 4.3% copper, 3.5% zinc, 100 ppm silver, 50 ppm germanium with other amounts of Sb, Ga, Cd by-products from 1905 to 1996.

Unmined zones remain to the side of the main mine workings and will be followed up in a planned exploration program.

The Tsumeb West Mine, known for copper, silver and vanadium production, lies within the EPLs. Tsumeb West was briefly mined in 2007-2008. The Tsumeb smelter, owned and operated by Dundee Precious Metals of Toronto, and the town of Tsumeb (44,000 pop) sit on the property's eastern boundary.

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