Haneti Diamond Drill Programme Completed

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14/02/2022 06:59

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RNS Number : 5061B  Katoro Gold PLC  14 February 2022

Katoro Gold plc (Incorporated in England and Wales)

(Registration Number: 9306219)

Share code on AIM: KAT

ISIN: GB00BSNBL022

("Katoro" or "the Company")

 

Dated: 14 February 2022

 

Katoro Gold PLC ('Katoro' or the 'Company')

 

Haneti Diamond Drill Programme Successfully Completed

 

Katoro Gold PLC (AIM: KAT), the gold and nickel exploration and development
company, announces that the diamond drill programme that was carried out at
the Haneti Project ("Haneti"), has been completed successfully.

 

Highlights:

 

·   The Company confirms the drill programme has been completed
successfully with a total of 900.04 metres completed across three drill holes
as planned.

 

·    Core logging and sampling is underway, with samples being prepared
for thin section petrographic analysis and laboratory assay testing (for
nickel, copper, platinum, palladium, cobalt, chromium and gold) at SGS
Tanzania.

 

·    Large intersections of serpentinite and gabbroic rocks were
identified in the Mwaka drill holes, with indications of peridotitic
sequences, the latter subject to confirmation through the thin section
petrographic analysis.

 

·    The Mihanza drill hole intersected massive serpentinite from surface
and serpentinised meta-gabbroic rocks at depth.

 

Katoro CEO, Louis Coetzee, commented: "The next step of the programme will now
entail final core logging, sampling and testing of the samples collected from
the core. We look forward to updating the market on the results from this.

 

"Thank you to the operational team that has ensured the successful and safe
completion of the programme on schedule and within budget."

 

Project Ownership Structure

 

The Haneti Project is held under a joint venture, where the Company holds 65%
ownership interest and 35% held by Power Metal Resources plc (LON:POW)("Power
Metal").

 

This announcement contains inside information as stipulated under the Market
Abuse Regulations (EU) no. 596/2014.

**ENDS**

 

For further information please visit www.katorogold.com
(http://www.katorogold.com) or contact:

 

 Louis Coetzee    louisc@katorogold.com (mailto:louisc@katorogold.com)  Katoro Gold plc         Executive Chairman

 Bhavesh Patel    +44 20 3440 6800                                      RFC Ambrian Limited     Nominated Adviser

 Andrew Thomson
 Nick Emmerson    +44 (0) 1483 413 500                                  SI Capital Ltd          Broker

 Sam Lomanto

 Isabel de Salis  +44 (0) 20 7236 1177                                  St Brides Partners Ltd  Investor and Media Relations Adviser

 Oonagh Reidy

 

 

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