Ankafotra Gold Prospect covers an area of 1175sq. km (117500 ha). km in total and is located in central west part of Madagascar, within the high plateau area. From Antananarivo, the capital of Madagascar, the property is about 265km by road.
- It is located on the most favorable zone for mineralization as the license area is sited not only on an important N315 shear zone but also on a contact zone between the Antananarivo Meso-Archean unit (to the East) and the Ikalamavony Proterozoic unit (to the west).
- Two different types of gold deposit are recorded: lateritic and alluvial deposit.
- Gold in the lateritic deposit occur as native and associated with the deeply weathered, in situ, granitic gneiss with amphibole. A minimum of 15 gold specs in every pan concentrate test has been reported by the French company SMM in 1948.
- Gold in the alluvial deposit occurs as nuggets within the current sediments and the old river bed of Betantely and Bekopaka river (two tributaries of Ankafotra river). Report by SMM show an average grade of 4grams per cu.m in these two places.
- Same as Tsimbolovolo area, the Ankafotra deposits was mined by French companies at the earliest colonization period and continued the gold production until 1948.
- Recent work done by The Council for Geoscience (CGS), South Africa identified 20sq. km of gold zone and 342sq. km of promising area for gold in the license area.