30th Jan 2019 11:44
LONDON (Alliance News) - Tanzania-focused exploration company Katoro Gold PLC said on Wednesday it has started a new work programme over the Haneti nickel project, following the analysis of all historic work.
Previous work on the 5,000 square kilometre project identified grades of up to 14% nickel with additional gold, cobalt, platinum, and some "significant" lithium anomalies.
The main objective of the 2019 work programme is to ascertain the existence of sulphide mineralisation at identified high priority exploration targets, including Mihanaza Hill, the firm said.
Katoro has already made progress by completing a soil sampling programme of 1,300 samples ready to be submitted for laboratory analysis.
"Having only completed the acquisition of Haneti last November, we are delighted with the rapid progress that has already been achieved. With several high priority exploration targets now identified, we are focused on advancing a new work programme at the project to establish evidence of disseminated sulphide mineralisation," said Executive Chair Louis Coetzee.
Shares in Katoro Gold were up 6.2% at 0.69 pence on Wednesday.
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