Gold One

Gold One Africa's wholly-owned subsidiary Etendeka Prospecting and Mining is currently exploring for precious and base metal mineralization approximately 400km northwest of Windhoek in Namibia. The main geological structure (known as the Kamanjab Inlier) extends for some 250km in an east-west direction and is up to 110km wide. The principle target is iron-oxide copper-gold (IOCG) mineralization associated with late-stage, porphyritic high-heat production granites of the Kaross Granite Suite.

The company has been awarded an exclusive prospecting licence (EPL) over an area covering some 65,000 hectares at Etendeka.

The Etendeka EPL is adjoined by an exclusive reconnaissance licence granted to Teck Cominco to the east and the Tevrede and Tevrede South EPL's, held by Helio Resources, to the west. The Tevrede area has been explored on an intermittent basis for over 15 years and a number of gold and copper occurrences have been discovered on the property. Recent exploration on Tevrede is based on evidence that copper-gold mineralisation in the meta-sediments is peripheral to an unusually large IOCG mineral system in the adjacent granites that has many features in common with the Olympic Dam deposit in South Australia. The property hosts large scale targets defined by gravity surveys, within and peripheral to the porphyritic granite plug, and soil and rock geochemical anomalies, in close spatial association with mineralized outcrops.

A comprehensive regional stream sediment sampling survey in the Etendeka prospect area has been completed. The stream sediment data is currently being evaluated and will be integrated with airborne magnetic data from government surveys flown across the prospect area.  The EPL which grants Etendeka the exclusive right to explorew for "base and rare metals, precious metals and precious stones" but excludes prospecting for semi-precious stones has been renewed, and is valid until 12 December 2010.