Marvel Gold Executive Director Tim Strong met with Tanzania Minister of Minerals Anthony Mavunde on April 9, 2025, to discuss the company’s prospects following the acquisition of the Hanang Gold project.
The company acquired the Hanang Gold project in March 2025 from the Tanzanian-registered Cobra Resources (Majority holder James Edward Armitage and Minority holder Athumani Ramadhani Mpungwe) for a total consideration of USD 200,000.
“The Hanang Gold Project lies within the underexplored Iramba-Sekenke greenstone belt within Nyanzian volcanic rocks, sediments, and BIFs, typical of the Central Craton greenstone belts. There is a significant upside to the Hanang Project, which remains underexplored,” the company highlights in its public release on March 21, 2025. The company also underscored that it had raised USD 4.2 million for the project from institutional investors.
In their meeting with the Minister, Marvel Gold explained that it expects to start a high-resolution drone-borne magnetic survey in September 2025. For his part, Mavunde emphasized the importance of the company staying true to its commitment.
