- Gladiator Resources’ (GLA) Tanzanian subsidiary has been granted seven exploration licences in Tanzania
- The company recently acquired Zeus Resources, claiming the transaction represents an opportunity to acquire areas prospective for uranium and gold
- The seven tenements cover more than 1764 square kilometres and have substantial historical data available which is now being reviewed
- Gladiator and Zeus will work together to finalise plans for an upcoming exploration program
- Company shares are up 17.5 per cent to trade at 4.7 cents at 12:03 pm AEST
Gladiator Resources’ (GLA) Tanzanian subsidiary has been granted seven exploration licences in Tanzania.
The company recently completed the acquisition of Zeus Resources after announcing the buy in August.
At that time, the seven tenements were still under application and Gladiator said the transaction represented an opportunity to acquire areas prospective for uranium and gold.
The tenements cover a combined area of more than 1764 square kilometres and were previously owned by multiple uranium exploration companies. As a result, there’s a substantial amount of data for most of the tenements based on historical work.
Chairman Ian Hastings commented on the granted exploration licences.
“We are pleased to see that the seven Tanzanian exploration licenses applied for by Zeus have now been granted,” Mr Hastings said.
“This paves the way for Zeus’s on the ground team to commence planning initial exploration work and to secure and examine the significant amount of data generated on these projects by their historical owners.”
Zeus Resources’ exploration team is currently securing and examining historical data to accelerate work plans.
Once the company is confident it has obtained the bulk of the available data and its technical staff have completed analysis, it will prioritise exploration targets and complete budgets.
Company shares were up 17.5 per cent to trade at 4.7 cents at 12:03 pm AEST.