Mojimoto Project Update
Summary by AI BETAClose X
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THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
FOR IMMEDIATE RELEASE 30 April 2026
Amigo Resources PLC
("Amigo" or the "Company")
Mojimoto Project Update - Exploration Progress, PML Engagement & Processing Initiative, Tanzania
Amigo Resources PLC (LSE: AMGO) is pleased to provide an update on the Mojimoto Project (the "Project"), located in the Lake Victoria goldfield region of Tanzania.
Exploration Programme Update
The Group has successfully completed a phased exploration programme across the Project area. The programme included:
• Deployment of proprietary micro-seismic survey techniques integrated with AI-assisted subsurface modelling;
• Systematic geochemical soil sampling and multi-element analysis; and
• Trenching and surface validation work across identified anomalies.
Following integration of these datasets, the Company has identified nine (9) Primary Mining Licence ("PML") areas demonstrating encouraging geological and geochemical signatures consistent with potential gold mineralisation.
Multi-element geochemical analysis has identified anomalous gold (Au) responses across the Project area, supported by elevated pathfinder element signatures consistent with structurally controlled gold systems typical of the Lake Victoria goldfield.
In addition, preliminary sampling of tailings and previously worked material from nearby artisanal mining operations has confirmed the presence of residual gold values, indicating potential for both primary exploration and the re-treatment of historic material.
Geochemical Results Summary
Laboratory analysis was completed on 624 samples collected across the Project area. A summary of gold and key pathfinder element results is presented below:
|
Element |
Range |
Peak |
Samples |
|
Au (ppb) |
20 - 580 |
580 |
624 |
|
As (ppm) |
5 - 180 |
180 |
624 |
|
Cu (ppm) |
30 - 240 |
240 |
624 |
|
Ag (ppm) |
0.1 - 4.5 |
4.5 |
624 |
Notes:
• Gold values reflect surface geochemical sampling and provide first-pass guidance for follow-up exploration.
• Pathfinder elements (As, Cu, Ag) support the interpretation of structurally controlled gold mineralisation.
• Surface geochemical results are indicative only and are not representative of subsurface grade or continuity.
PML Engagement & Planned Drilling Programme
Afri Core Resources Limited, the Group's Tanzanian subsidiary has commenced engagement with holders of the identified PMLs and is progressing formal agreements to support further exploration and development.
Under these arrangements:
• The Company intends to fund and execute a structured drilling campaign;
• The programme will test priority gold targets generated from integrated datasets; and
• Results will support potential resource delineation and technical evaluation.
Subject to satisfactory exploration results and receipt of all requisite regulatory approvals, the company intends to form joint venture arrangements in respect of Mining Licences ("MLs") derived from the underlying PML areas, pursuant to which the company may hold up to an 80% participating interest.
Processing Plant Initiative
Encouraged by the exploration results and the presence of historically worked material, the Group is advancing plans to establish a gold processing facility.
The pilot plant is intended to:
• Process tailings and previously mined material;
• Support metallurgical test work and process optimisation; and
• Generate early-stage operational data and revenue.
In addition, the Group is incorporating a proprietary gravity-based concentration module, designed to enhance the recovery of fine and ultra-fine gold particles from both fresh ore and historic tailings.
Strategic Context
The Mojimoto Project represents a key component of Amigo's strategy to:
• Apply AI-driven exploration methodologies to identified gold-bearing terrain;
• Combine primary exploration with the re-treatment of historic artisanal material; and
• Integrate exploration, processing, and proprietary technology under a single operational platform.
The Company is evaluating the potential to advance Mojimoto as an integrated gold exploration, development and processing project, subject to further technical validation.
Cautionary Statement
The information contained in this announcement is based on preliminary exploration results.
Geochemical results are derived from early-stage surface sampling and do not constitute evidence of economic mineralisation. Further drilling and metallurgical testing are required.
There is no certainty that economically recoverable mineral resources will be defined, or that Mining Licences will be granted.
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014. The person responsible for this announcement is Nicholas Beal, Chief Executive.
Contacts:
|
Amigo Holdings PLC |
investors@amigo.me |
|
Craig Ransley |
Executive Chair |
|
Nick Beal |
Chief Executive |
|
|
|
|
Sponsor |
Beaumont Cornish 0207 628 3396 |
About Amigo Resources PLC
Amigo is a public limited company registered in England and Wales with registered number 10024479. Amigo is focussed on gold and rare earth mining opportunities in Africa, principally in Tanzania and Mauritania. The Amigo Shares are listed on the Official List of the London Stock Exchange
Additional Information
This announcement is not intended to, and does not, constitute or form part of any offer, invitation, or the solicitation of an offer to purchase, otherwise acquire, subscribe for, sell, or otherwise dispose of, any securities, or the solicitation of any vote or approval in any jurisdiction, pursuant to this announcement or otherwise.
-ENDS-
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