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Vector Resources seeks gold project in Democratic Republic of Congo

The company is well advanced with due diligence at the Adidi-Kanga project.

Vector Resources Limited (ASX:VEC) is seeking to establish a new joint venture to develop the Adidi-Kanga Gold Mine in the Democratic Republic of Congo.

The company has signed a Heads of Agreement with Fimosa Capital Limited and Mongbwalu Gold Mines SA to obtain a 60% interest in the project.

Vector is well advanced with legal and technical due diligence and anticipates completing this before the end of January 2018.

Aim to complete definitive feasibility study

The aim of the new joint venture would be to complete a definitive feasibility study in 2018 for the development of the project and start of mining.

The project is owned by Congolese company Mongbwalu Gold Mines, which is a joint venture between Fimosa Capital and Société Minière de Kilo Moto (SOKIMO).

Adidi-Kanga has been subject to significant exploration, feasibility study work and development activities by AngloGold Ashanti (ASX:AGG) between 2005 and 2013.

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