Technical Report Confirms Haneti Nickel, PGM and Lithium Target

Technical Report Confirms Haneti Nickel, PGM and Lithium Target

2014-06-19T06:19:01+00:00March 17th, 2014|

Kibo Mining plc (“Kibo” or the “Company”) the Tanzania focussed mineral exploration and development company is  pleased  to  announce  it  has identified a  30km  strike of nickel-platinum  prospectivity  at  Haneti following receipt of a comprehensive technical report covering full historical exploration and technical data from the Haneti project. The technical report, prepared by Mzuri Exploration Services (“MXS”) (“The Report”),the Company’s exploration  service  provider  in  Tanzania, includes  the  full  data  and  conclusions drawn from the 2013 exploration programme and provides a detailed assessment and recommendations for steps to be taken to confirm the nature and extent of mineralisation identified on the company’s 100% owned Haneti project.

Highlights:
  • 30km strike of nickel-Platinum Group Metal (“PGM”) prospectivity identified at Haneti
  • High priority nickel and PGM targets at Mwaka and Mihanza Hill confirmed
  • Potential  of  project  to  host lithium pegmatite  mineralisation (lithium and  associated  elements  such  as niobium and tantalum) to be further investigated
  • Based on this technical report the company is now able to focus future activities on key tenements highly prospective for target mineralisation
The Report contains the following key data and recommendations:
  • Multi-element results from legacy and recent soil and rock geochemical surveys over the central 30 km strike of the Nickel-PGM prospective Haneti Itiso Ultramafic Complex (“HIUC”) have been integrated to  produce  geochemical  plots  that  point  towards  areas  for  follow  up  trenching/pitting,  ground geophysics and drilling
  • Two target areas at Mwaka and Mihanza hills are recommended for initial drilling during 2014 based on a combination of anomalous soil and rock geochemistry, ground geophysics and favourable geology
  • Advanced statistical  analyses and  interpretation  of  the  multi-element  geochemical  database  by  an independent expert  on  the  geochemistry  of weathered nickel  sulphide bearing  ultramafic terranes are being undertaken to guide future field activities on the project
  • Detailed aerial aeromagnetic,  radiometric and gravity data from a recently flown Government survey in the region and covering Haneti, when made available later this year, will supplement the Company’s existing information database and technical understanding of the project
  • A rationalisation and consolidation plan for the project tenements is being formulated in order to focus resources  on  the  key  gold  prospective  (Londoni-Hombolo-Mosangani  )  and  the  nickel-PGM prospective (HIUC ) trends based on the results of the 2013 regional mapping programme
  • A desktop  study  is  recommended  to  assess  the  potential  of  the  project to  host  economic  lithium pegmatite  mineralisation  (lithium and  associated elements  such  as niobium  and  tantalum) based on initial anomalous rock grab sampling results from lithium pegmatites identified on the project
Download full report:

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