17th Mar 2014 12:24
LONDON (Alliance News) - Kibo Mining PLC Monday said it has identified a 30 kilometre strike of nickel-platinum prospectivity at its 100% owned Haneti project.
The Tanzania focused mineral exploration and development company said that following a comprehensive technical report on the Haneti project, high priority nickel and nickel-platinum group metal targets at Mwaka and Mihanza Hill have been confirmed.
It said the two target areas at Mwaka and Mihanza hills have been recommended for initial drilling during this year, based on a combination of anomalous soil and rock geochemistry, ground geophysics and favourable geology.
It said the potential of the project to host lithium pegmatite mineralisation, is to be further investigated.
"Results from the 2013 exploration programme at Haneti, when integrated with prior historical work undertaken, demonstrate the high degree of prospectivity evident on the ground. Haneti provides Kibo with exposure to highly attractive nickel, gold and Platinum Group Metal targets; and now, potential strategic metal opportunities with lithium and niobium prospectivity," said Chief Executive Louis Coetzee in a statement.
Kibo Mining shares were trading 1.3% higher at 3.93 pence per share Monday morning.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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