Dated: 10 June 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 commencement of the Company’s work programme at the Morogoro Gold Project in Tanzania (“Morogoro Project”), held in Joint Venture (“JV”) with Metal Tiger plc (“Metal Tiger”) (LON:MTR).
Readers are advised to consult the Company’s news announcements of 19 January 2015 and 26 February 2015 which outline the terms of the Company’s JV with Metal Tiger in respect of Morogoro.
Highlights:
- formal commencement of ground exploration work at the Company’s Joint Venture with Metal Tiger over the Morogoro Licence in eastern Tanzania;
- initial exploration work to investigate gold mineralisation anomalies previously identified;
- work to include assay testing of existing samples for gold and multi-element mineralisation with results due early Q3 2015;
- follow up work to be formulated on the basis of on-going results but likely to include additional soil sampling to enhance initial findings and to extend mineralisation identified, together with reconnaissance assessment and mapping to examine unexplored ground within the Morogoro Project, including documented copper occurrences and potential artisanal workings; and
- overall objectives of the Morogoro programme will be to assess prospectivity combining the additional findings from this work with data gathered from previous exploration data in order to assess project viability cost effectively and, assuming positive results, define a project pathway including resource drilling.
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