Haneti Joint Venture Project Update: First Laboratory Results

Haneti Joint Venture Project Update: First Laboratory Results

2014-06-18T20:02:03+00:00September 8th, 2013|
  • New Ni-PGM prospective ultramafic outcrops identified
  • Preliminary soil samples results confirm Mihanza and Mwaka as initial priority drill targets
  • Regional programme identified new ultramafic occurrences
  • Initial soil sampling programme completed ahead of schedule
  • Follow up soil sampling completed over new target areas identified from geological mapping

Kibo Mining (“Kibo” or the “Company”) (AIM: KIBO), (JSE: KBO), the Tanzania focused mineral exploration and development company, is pleased to provide a further interim operational update of its Tanzanian Haneti Joint Venture Project, which is being funded by its joint venture partner, Votorantim Metais. This update reports on project activities for the period since the last RNS, and ending August 31, 2013.

The current soil sampling and mapping work is focused on metamorphosed ultramafic rocks which are targets for nickel, gold and platinum group metal element (“PGE”) mineralization. Previous sampling and mapping programmes identified anomalous nickel and gold grades and the current sampling programme is intended to provide additional detailed surface geochemical data to support and confirm the final selection of locations for initial test drilling, in the absence of sufficient surface geology that will normally aid in determining these decisions.

The discoveries of new ultramafic outcrops, the additional information gained from the geological mapping programme and the latest geochemical soil sampling results have added significantly to the understanding of the geology of the project. Specifically, at Mwaka and Mihanza the latest soil geochemical results together with previous soil geochemical, trenching and geophysical results have confirmed these prospects as initial priority drill targets.

Louis Coetzee, CEO of the Company , commented today :
“The Company is extremely pleased with the progress made to date. The project is well managed and we are confident that the main objective of the sampling programme, i.e. gaining an improved understanding of the geology in order to identify and prioritize drill targets, has by and large been achieved. The final objective of the current programme after completion of all field activities will be to recommend a detailed drill programme to test for mineralization.”

Download full report:

[ott_teaser btn_text=”Download” btn_icon=”icon-right-big” btn_url=”http://kibo.energy/wp-content/uploads/RNS_Final-for-Release_Update-on-Haneti-JV-Proj_V3.0_-06092013.pdf” btn_target=”_blank”]Haneti Joint Venture Project Update: First Laboratory Results[/ott_teaser]

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