Amigo Resources PLC (LSE:AMGO) (AMGO) said in an announcement that its wholly owned UAE subsidiary, Azima Holdings Limited, has put an exclusive Joint Development Agreement in place with AK Corporation - FZCO to advance the Negero‑Kilimamzinga and Mazoka gold projects through Kabete Minerals Company Limited, which Azima owns 51% of.
The company said Azima will provide a minimum of US$1.2 million in operational funding to the project over the next 12 months, while the technical partner will "lead operational execution, including licence and regulatory management, geological oversight, plant design and construction, site management, HSE compliance, and monthly technical reporting."
Amigo set out the exploration work completed to date: high‑resolution airborne magnetics and radiometrics, ground geophysics (including induced polarisation and resistivity), regional and detailed soil geochemistry, reverse circulation and diamond drilling, plus mapping and trenching; the drilling campaign comprised 167 holes totalling more than 21km. 111The Project covers around 159.11 km² of prospecting licences within the Kilindi‑Handeni Goldfields and includes areas of artisanal mining, the company said.
Executive Chair Craig Ransley said: "Azima's commencement of development at Kabete marks asignificant step forward in the Group's strategy to develop high-potential gold assets in Tanzania.By partnering with an experienced technical operator, we are positioning Kabete for efficient execution and value creation.Pilot-scale production is currently underway, with approximately 5 kg of gold production expected in April 2026."
