Dated: 27  January 2015

Highlights

  • Mihanza Hill prospect (“Mihanza”) soil anomaly proves to be consistent with that expected for a significant Ni-Cu-PGE sulphide deposit
  • Key parameters of anomaly indicate a signature with the potential to represent a significant magmatic Ni-Cu sulphide source
  • Characteristics of Mihanza Ni-Cu anomaly suggests a possible “chonolith” intrusion which dramatically improves the probability of exploration success
  • Mihanza results validates and independently confirms the Ni- Cu- PGM potential of the Haneti project

Kibo Mining Plc (“Kibo” or the “Company”) (AIM:KIBO; JSE AltX: KBO), the Tanzania focused mineral exploration and development company, is pleased to announce that it has received an independent geochemical interpretation report (the “Report”) based on detailed analyses of its soil and rock geochemical over the nickel-copper-PGM Haneti project in central Tanzania. The report confirms the Mihanza area as a robust drill target with the potential to represent the surface expression of a significant Ni-Cu-PGE style sulphide deposit at depth. The work was carried out by consultant geochemist Dr. Nigel Brand Geoservices Pty Ltd of Perth Western Australia who has global experience interpreting geochemical data over nickel sulphide style mineralisation targets particularly in Australia and East Africa.

The geochemical analyses were primarily based on soil and rock sampling results from Kibo’s 2013 exploration programme at Haneti. This geochemical study is the first component of desktop based exploration data analyses that the Company is undertaking to extract maximum benefit from available geological, geochemical and geophysical data for the project before it commences the next phase of exploration which will include drilling of priority targets. Maps showing the location of the prospects discussed below can be found on the Haneti project page of the Company’s website (www.kibo.energy).

Louis Coetzee, Chief Executive Officer of Kibo Mining plc, commented: ” With this new report to hand the case for further exploration and development at Haneti is compelling. We are delighted that the geochemical work undertaken has highlighted the nickel sulphide potential at Haneti and ratified historic exploration work and our own findings as previously announced.  Various additional work is underway to review the entire dataset from Haneti with a view to further improving our understanding. We are now confidently moving forward to enable rapid visible progress at Haneti, for the benefit of the company and our shareholders.  Further updates will follow.”

Download Full Report

[ott_teaser btn_text=”Download” btn_icon=”icon-right-big” btn_url=”https://kibo.energy/wp-content/uploads/Final-RNS-26012015-Haneti-Geochem-Report.pdf” btn_target=”_blank”]Haneti Nickel Project- Positive Geochemical Update[/ott_teaser]