Haneti Interim Project Update

Haneti Interim Project Update

2014-06-18T20:05:23+00:00July 11th, 2013|
  • Second Haneti field team to deploy.
  • Sample programme on schedule.
  • Mapping programme commenced.


Kibo Mining PLC (“Kibo” or the “Company”) (AIM: KIBO), (JSE: KBO), the Tanzania focused mineral exploration and development company, is pleased to provide Shareholders with an interim operational update of its Tanzanian Haneti Joint Venture Project, which is being funded by its joint venture partner, Votorantim.

During the first three weeks of work on the Haneti Exploration Programme, primary attention was given to undertaking a comprehensive soil geochemical sampling programme over key target areas. Sampling commenced at the Mwaka hill target with a single sample team (See fig 1 and 2) on an altered serpentitite body (approx. 2km x 1km) identified from previous exploration. The serpentinite represents metamorphosed ultramafic rocks which are targets for nickel, gold and platinum group metal element (“PGE”) mineralisation. Prior sampling at Mwaka identified anomalous nickel and gold grades (93m at 0.4% Ni in trenching and up to over a 1000 ppb gold in soils) and the current sampling programme is intended to provide more detailed surface geochemical data ahead of the prioritisation of locations for initial drilling.

For the period ending 25 June, a total of 238 samples were collected on Mwaka. A second and possibly a third sampling team will be deployed during July 2013 to cover other priority targets along the Haneti ultramafic complex. The agreed soil sampling method and procedure was confirmed with the JV partners during a Votorantim site visit on 26 June 2013.

The geological mapping program, as part of the 2013 exploration field programme, commenced with several reconnaissance visits to the main target areas. Two detailed lines were mapped on Mwaka and Mihanza for orientation purposes as well as to confirm historic mapping. First pass visits to Mindii and Zoani hills were also completed. A total of 76 rock samples were collected for multi-element analyses as part of the mapping programme thus far.

First laboratory results are expected from the end of August onwards.

The CEO, Kibo Mining PLC remarked: …”The field team has settled in well and we are pleased with the current production rate.”

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