Dated: 13 March  2015

Kibo Mining Plc (“Kibo” or the “Company”) (AIM:KIBO; JSE AltX: KBO), the Tanzania focused mineral exploration and development company, is pleased to announce the Company has commenced an Airborne Geophysical Data Review in respect of the Company’s Haneti Nickel Project.

 Highlights

  • Recently flown high resolution aerial geophysical survey data acquired from the Geological Survey of Tanzania for the Haneti project
  • Detailed processing and interpretation of this data by a geophysical consultant experienced in Ni-Cu-PGM style mineralisation targeting, will now commence
  • Result of the work will assist with regional geological interpretation, help generate additional target areas for Ni-Cu-PGM style mineralisation and contribute to a better understanding of existing drill targets on the project prior to drilling
  • Data acquisition represents significant boost to exploration at Haneti as it represents a large cost saving relative to Kibo independently commissioning the flight survey.

Louis Coetzee, Chief Executive Officer of Kibo Mining plc, commented: “The Company’s Haneti Nickel Project has delivered increasingly diverse and attractive results. Our main focus has been on identifying the potential for a large Nickel Sulphide deposit, however as outlined in previous announcements, Haneti is also evidently prospective for gold, PGMs, lithium and tantalum/niobium. 

The recently announced Geochemical Interpretation strengthened our confidence in the project significantly, which was borne from extensive previous exploration work on the ground.  Having access to this Airborne Geophysical Data will add considerably to our information about the project and enable us to conduct further project assessment, at minimal additional cost.

With historic exploration, Geochemical Interpretation and now Airborne Geophysical Data we are aiming to significantly enhance our understanding of the Haneti project and its considerable prospectivity. This will establish the basis from which significant value can be generated for shareholders through future work programmes and potential project partnerships.

We are pleased to advance the Haneti project in parallel to our work with prospective development partners at our Rukwa Coal to Power Project and our Imweru Gold Project.  Further updates across the Company’s portfolio are expected to follow shortly.”

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