Megado Gold Limited (ASX:MEG)
Megado (ASX:MEG) has five high-quality gold exploration assets covering 511km2 and one licence application covering 227km2 in Southern and Western Ethiopia with the geological potential to host gold deposits of significant scale.
Ethiopia is geologically highly prospective for deposits of significant scale and contains a world-class greenstone geological terrain and hosts part of the prolific Arabian-Nubian Shield.
Megado has a premium land position immediately along strike to Ethiopia’s only modern gold mines, Lega Dembi and Sakaro (+3Moz Au), covering the same fertile greenstone-terrain host rocks and structural setting, in addition to an asset located proximal to Ethiopia’s next gold mine, the +1.5Moz Tulu Kapi deposit (AIM-listed KEFI Minerals).
Megado has used satellite spectral targeting technology and field testing to identify over 50 high-priority targets in its project areas.
Megado has assembled a strong team with considerable Ethiopian, gold and exploration experience.
Ethiopia is beginning to mature as a mining jurisdiction, with a supportive government encouraging foreign investment in the mining industry. Multiple western-based (TSX, LSE) companies have received full mining licence approvals and are advancing assets towards production.