Haneti Project Nickel Drill Programme Update

RNS Number : 8011A

Katoro Gold PLC

01 October 2020

 

Katoro Gold plc (Incorporated in England and Wales)

( Registration Number: 9306219)

Share code on AIM: KAT

ISIN: GB00BSNBL022

("Katoro" or "the Company")

 

01 October 2020

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

Haneti Project Nickel Drill Programme - Pre-Mobilisation

Katoro Gold plc (AIM:   KAT), the AIM listed   gold and nickel exploration and development company, is pleased to provide an update with respect to the planned drilling programme targeting the discovery of nickel and platinum group metals ("PGM") at the Haneti Project ("Haneti") in Tanzania.

Katoro Gold PLC holds a 65% ownership interest in Haneti with 35% held by Power Metal Resources PLC ("POW").

HIGHLIGHTS:

· Pre-drill rig mobilisation now underway to finalise preparations for the maiden drilling programme targeting nickel sulphide and PGM mineralisation.

· Technical team mobilising to site shortly to liaise with the Tanzania Ministry of Minerals and regional/local government, prepare equipment for mobilisation and arrange ground operational staffing.

· The drill contractor availability has now been confirmed and the key objective is for mobilisation of the drilling rig and field team to site as soon as possible, subject to applicable Covid-19 related restrictions.

Louis Coetzee, Chairman of Katoro Gold plc, commented: "I am very pleased that we are able to announce the mobilisation of the first exploration drilling program at Haneti. We believe that Haneti holds significant potential to host a world class nickel deposit within a previously identified 80km long ultramafic complex. Previous exploration work in this complex delivered nickel values as high as 13.6% and 2.33 g/t combined platinum and palladium."

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 or contact:

Louis Coetzee	[e-mail]	Katoro Gold plc	Executive Chairman
Bhavesh Patel Andrew Thomson	[phone]	RFC Ambrian Limited	Nominated Advisor
Nick Emmerson Sam Lomanto	[phone]	SI Capital Ltd	Broker
Isabel de Salis Beth Melluish	[phone]	St Brides Partners Ltd	Investor and Media Relations Adviser

 

END

 

 

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