In July 2010, London Africa Limited signed a 3 year Exploration Licence Agreement with the Government of Eritrea on 1169 km2 of highly prospective ground in the Akordat - Orota region of central Eritrea. The licence agreement covered much of the ground that was previously held by the company under a 12 month Prospecting Licence.
Eritrea, whose capital is Asmara, is in northeast Africa, bordered by Sudan in the west, Ethiopia in the south, and Djibouti in the southeast. The east and northeast of the country have an extensive coastline on the Red Sea, directly across from Saudi Arabia and Yemen. The Dahlak Archipelago and several of the Hanish Islands are part of Eritrea. Its size is just under 118 000 km2 with an estimated population of 5 000 000.
The company's Exploration Licence covers 1169 km2 between Akordat and Orota in the central region of Eritrea. Numerous gold and base metal prospects have been identified by the company over the last 12 months. Over the next year the company will continue regional sampling work over the licence area to identify new targets as well advancing its work on the Kofot - Gerger gold + base metal prospect and Tanenay gold prospect.
London Africa is in early stage discussions with at least 3 major mining houses about the possibility of a strategic joint-venture alliance. Further news will follow.
Eritrea has the potential to host a large number of economic ore bodies, and London Africa has deliberately targeted those that are close to infrastructure.