News

July 03, 2008

Douglas Lake Minerals Set To Be The Conduit For Millions Of Dollars To Flow Into Tanzania From China

By Alastair Ford

“At Christmas we came across this property in Tanzania, shown to us by a company geologist - a burlap sluice operation producing 200 kilos of concentrate per month”. Thus begins the tale of the latest chapter of the Douglas Lake Minerals story, as told by Douglas Lake’s vice president Byron Hampton. That chapter is not yet over, but already there’s been a surprising twist.

Last month the company had to re-release test results from soil samples taken from the said alluvial property, which goes by the name of Mbwemkuru, after Echo Test Laboratories over-stated the grades by a factor of ten. Thus a result that showed up as 408.3 grammes per tonne gold on 11th June was re-stated six days later at 40.83 grammes per tonne. Embarrassing, but hardly fatal. After all, everyone makes mistakes, and, in a way, with labs under so much pressure these days it’s perhaps...