31st Jul 2008 07:00
31 July 2008
OBTALA RESOURCES PLC ("Obtala" or the "Company")
Award of New Gemstone Licence (Ruby)
Obtala Resources Plc is pleased to announce the grant of a new gemstone licence at Matombo, in Morogoro District of Tanzania, East Africa.
The licence granted allows Obtala to carry on such prospecting operations and execute all works as are necessary for a period of 24 months effective from 18 July 2008. The licence covers an area of 2.77km2 and is 100% owned by Mindex Invest Ltd, a subsidiary of Obtala.
The host rocks in the Morogoro region are metamorphosed ultramafic rocks of the Usagaran supergroup which are known to be endowed with rubies, and various species of coloured gemstones.
Frank Scolaro, Chairman of Obtala, commented that "The Mining Act of Tanzania encourages the development of modern gemstone mines and together with our emerald licences in Lake Manyara (covering 6km2 production licences), we look forward to building a quality gemstone business in Tanzania in the near future".
Contact:
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Frank Scolaro – Chairman
Simon Rollason – Chief Geologist
www.obtalaresources.co.uk
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+44 (0) 20 7099 1940
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Obtala Resources plc
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Ray Zimmerman/Jonathan Evans
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+44 (0) 20 7060 1760
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Zimmerman Adams International Ltd -
Nominated Adviser and Broker
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