Imweru Project Update

RNS Number : 2645Z

Katoro Gold PLC

14 December 2017

 

Katoro Gold plc (Incorporated in England and Wales)

(Registration Number: 9306219)

Share code on AIM: KAT

ISIN: GB00BSNBL022

("Katoro" or "the Company")

 

 

Dated: 14 December 2017

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

First Portion of Imweru Project's LiDAR survey complete

Katoro Gold Plc (AIM:KAT), the Tanzania focused gold exploration and development company, is pleased to announce that it has completed the Light Detection and Ranging ('LiDAR') survey at its Imweru gold project ('Imweru') in Tanzania and currently awaiting the final survey report.

As announced on 24 November 2017, the Company commissioned a LiDAR survey over the entire envisaged Imweru mining area to further strengthen the Pre-Feasibility Study ('PFS'), which remains on track to complete in the near term. Upon receipt of the final survey report the digital data will be processed to produce highly accurate reports to support the final resource estimation and optimised mine design.

Louis Coetzee, Executive Chairman of Katoro commented: "We are fast-tracking the work programme at Imweru and delighted with the speed at which it is progressing.  As we move into 2018, we anticipate a steady flow of news as we hit key trigger points including the completion of the PFS, drilling programme, a feasibility study and the application for a Mining Licence as well as the final phase of the Environmental and Social Impact Assessment." 

**ENDS**

For further information please visit www.katorogold.com or contact:

Louis Coetzee	[phone]	Katoro Gold plc	Executive Chairman
Jon Belliss	[phone]	Beaufort Securities Limited	Broker
Richard Tulloch/ Ritchie Balmer/ Frederick Twist	[phone]	Strand Hanson Limited	Nominated Adviser
Isabel de Salis / Priit Piip	[phone]	St Brides Partners Ltd	Investor and Media Relations Adviser

Notes to editors:

In May 2017 Katoro was admitted to trading on AIM.  Katoro owns 100% of the Imweru and Lubando Gold Projects in Tanzania, which both have Mineral Resources established in accordance with the JORC (2012) Code. The total Mineral Resources stated for Imweru consist of 11.607 Mt at grade of 1.38 g/t for a Mineral Resource of 515,110 oz Au at a resource pay limit of 0.4 g/t for the open pittable material and 1.3 g/t for the underground material, while the Lubando Mineral Resources equate to 6.78 Mt at grade of 1.10 g/t for 239,870 oz Au at a pay limit of 0.4 g/t to a depth of 200 m and 1.3 g/t below the 200 m depth cut-off. The respective projects also include the earlier stage Sheba (within the Imweru Licence Portfolio and Imweru Option Portfolio), Pamba and Busolwa (both within the Lubando Licence Portfolio and Lubando Option Portfolio) projects.  The JORC Code compliant Competent Person's Report for each of Imweru and Lubando are available on Katoro's website www.katorogold.com.

The Company's primary focus is on advancing and developing Imweru through a work programme which will include, inter alia, a feasibility study and a drilling programme, with the aim, subject to funding, to commence production with an initial target of 50,000 oz gold per annum within 18-24 months from admission to AIM.

Updates on the Katoro's activities will be announced as required and posted on its website www.katorogold.com. 

 

END

 

 

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