Central African Gold acquires Botswana prospect

Motako is a wholly owned subsidiary of Golden Tau, a company in which CAG already owned a 53 percent controlling stake, and following this acquisition, CAG shares in Golden Tau would be cancelled. GAC said on Wednesday that Golden Tau would assign an unsecured interest-free loan of around US$328, 544 to fund its exploration activities to date.

The Kraaipan project extends over some 400  square kilometres of the north westward strike continuation of the Archean Kraaipan greenstone belt, originating from South Africa. To date, Golden Tau had undertaken a detailed examination of previous reconnaissance work completed in the 1980s. Exploration included geological mapping, airborne geophysical surveys and limited percussion and diamond core drilling.