Sidon Acquires Acreage Bordering Its MEG Project in Tanzaniaadmin
Sidon International Resources Corp. announces that it has acquired an additional property in the region of its ongoing drilling project on its MEG Property southeast of Morogoro in east central Tanzania.
Abby Farrage, director of the company states, “We are pleased to be able to acquire the block of land contiguous to our property as we feel this property may hold tremendous value for the company going forward. We have been pleased with the ongoing operations on the property so far and look forward to what the drilling results will provide in the near future on this prospect.”
The 13.8 km2 property is located adjacent to the northwest of the MEG property and contains the favourable stratigraphy encountered on the MEG Property.
The property is being acquired from a private Tanzanian company for payments of $5 million and issuing 10 million shares, and completing $5 million in exploration in the next five years.
Sidon International Resources is a junior exploration company with interests in Saskatchewan coal properties, gold silver claims in British Columbia, copper gold claims in Nevada, diamond properties in the Northwest Territories, and significant potash acreage in Alberta.