Ashanti Goldfields Company's (Ashanti's) most recent development is the Geita Project in the Lake Victoria Goldfield of NW Tanzania. It comprises six distinct gold deposits within two mineralised trends: Nyankanga, Lone Cone, Geita Hill (Geita trend) and Matandani, Kukuluma and Area 3 West (Kukuluma trend). Between 1936 and 1966, the Geita area produced an estimated 5.5 M tonnes of ore from five underground deposits at an average recovered grade of 5.3 g/t. The discovery of Nyankanga was made by Ashanti in 1996 from RAB drilling of a +100 ppb Au anomaly in laterite soil above ferricrete cover. The Kukuluma trend was discovered by SAMAX Resources (taken over by Ashanti in 1998) between 1996 and 1997 from RC drilling of a +80 ppb Au laterite soil anomaly. Oxide facies banded iron formation (BIF) of the Upper Nyanzian System forms prominent topographic ridges and is the dominant host lithology for gold mineralisation. The ridges are flanked by felsic tuff units which lie stratigraphically above. Syn-genetic lamprophyre (vogesite) and post-genetic felsic dykes are also seen in the Geita trend. At Nyankanga a granodiorite-diorite suite has intruded as dykes and sills into BIF from a plug centred on a WNW fault and has produced wallrock alteration assemblages similar to those seen in Cu-porphyry systems (potassic, propylitic, etc) as well as sulphide and gold deposition. However, the main ore-grade mineralisation (as in the rest of the Geita trend) is controlled by low-to-medium angle structures dipping north-west and north with numerous splays in the hanging wall. High-grade shoots at Nyankanga plunge to the west and to the north-west, being lithologically and fault-controlled respectively. At Geita Hill the higher grade shoots are controlled by fold noses in BIF dipping to the north. Free gold occurs within fractures of sulphides. The deposits of Kukuluma and Matandani occur on an ancient (possibly Cretaceous) erosional plateau and are related to two WNW to NW trending shear zones, discordant to the local strike of the BIF sequence. Complete oxidation occurs up to 120 m depth and there is a strong supergene component to the gold distribution. Primary gold mineralisation is divisible into two distinct assemblages: arsenopyrite-pyrrhotite-magnetite-chlorite associated with brecciated cherts and pyrite associated with shaley banded ironstones. Area 3W is most likely the fault-displaced extension of the same mineralised trend and comprises thin, intermittent zones of high-grade gold mineralisation occurring adjacent to a ridge in banded cherts and minor BIF. Current resources (measured, indicated and inferred) for the project are estimated at 89.24 Mt at an average grade of 4.17 g/t (11.97 Moz of contained gold) at a 1.0 g/t cut-off grade. Of this 9.83 Moz is within the Geita trend and 2.14 Moz is within the Kukuluma trend. A resource of 2.74 Moz is from an inferred resource at depth at Nyankanga where the viability of an underground operation is being studied. Proven and probable reserves are 49.77 Mt @ 3.46 g/t (5.54 Moz) based on a $325/oz gold price providing a mine life of ten years at an average production rate of 500 000 oz per year. Reserve estimation was carried out using mineable polygons to select resource blocks based on a series of mining and costs parameters. In addition key cost parameters were tested to provide sensitivities for pit optimisations and pathfinders for negotiations with suppliers and contractors. Construction began in March 1999 and first gold is expected to be poured in the second-quarter 2000.