Haneti Diamond Drill Programme Mobilizes
11/01/2022 07:00
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RNS Number : 9880X Katoro Gold PLC 11 January 2022
Katoro Gold plc (Incorporated in England and Wales)
(Registration Number: 9306219)
Share code on AIM: KAT
ISIN: GB00BSNBL022
("Katoro" or "the Company")
11 January 2022
Katoro Gold PLC ('Katoro' or the 'Company')
Haneti Diamond Drill Programme Mobilizes
Katoro Gold PLC (AIM: KAT), the gold and nickel exploration and development
company, is pleased to announce that mobilization for the Haneti diamond drill
programme has commenced.
On the 8(th) November 2021, the Company announced that it will be conducting a
diamond drill programme on its Haneti Nickel project, in which the Company
holds 65% ownership interest with 35% held by Power Metal Resources plc (LON:
POW). Following the results received from the RAB drill programme that was
completed in early 2021, it is expected that mobilization will be completed on
or around the 17(th) January 2022. Drilling on the 1,000-meter programme to
commence on or around the 20(th) January 2022.
Additional information as well as a map highlighting the planned locations for
the 2022 diamond drilling programme can be found on slide 11 on the following
link:
https://katorogold.com/wp-content/uploads/2021/05/HANETI-Pres-21_v2.0_040521-1.pdf
(https://katorogold.com/wp-content/uploads/2021/05/HANETI-Pres-21_v2.0_040521-1.pdf)
.
Katoro Executive Chairman, Louis Coetzee, said: "We are very pleased to be
starting off the new year on a good note for the Haneti project. Commencing
with the next phase of the diamond drill programme marks a milestone in our
exploration strategy. Subject to the results from the diamond programme, we
look forward to unlocking even more positive developments.
"In the process of planning and preparing for the abovementioned drill
programme, the Company also successfully renewed all the prospecting licences
that cover the Haneti project area. This means that the Haneti project now has
another 7 years active life. This will also give us an opportunity for further
exploration/ development of the Haneti project area."
HIGHLIGHTS:
- The planned 1,000m drill programme consists of three deep diamond
core targeting magmatic nickel (Ni) copper (Cu) platinum group element (PGE)
sulphide mineralisation. The work will constitute the first diamond drilling
conducted out by the JV within the Haneti Project area.
- The planned drillholes are designed to provide a full intersection
through the various ultramafic sequences to produce fresh rock samples for
detailed geochemical and petrographic analysis.
- Two diamond core holes are planned at the Mwaka Target for a combined
total of approximately 505m. The holes have current planned depths of 264m and
241m and are designed to test two discrete high-priority conductors which were
identified during the 2012 electromagnetic ("EM") geophysics survey.
- A single 495m deep diamond core drill hole is planned at the Mihanza
Target. The Mihanza target was subject to a shallow Rotary Air Blast ("RAB")
drill programme that was completed in early 2021; the programme confirmed the
presence of near-surface Ni-Cu-PGE sulphide mineralisation. The Mihanza Target
is centred around coincident magnetic high geophysical and nickel geochemical
anomalies. Detailed modelling and inversion analysis of the airborne magnetic
data completed in 2014 identified a large plug shaped magnetic anomaly
(interpreted to represent an ultramafic body) which lies at roughly 300m below
surface. This plug shaped body has never been drill tested, and the drill hole
planned at Mihanza is specifically designed to intersect the anomaly at depth.
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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