Results of Haneti Sampling Programme

RNS Number : 5816Z

Katoro Gold PLC

20 May 2019

 

Katoro Gold PLC (Incorporated in England and Wales)

(Registration Number: 9306219) 

Share code on AIM: KAT

ISIN: GB00BSNBL022

("Katoro" or "the Company") 

Dated: 20 May 2019

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

Results of Haneti Nickel Project Sampling Programme

Highlights:

·    Results received back from the soil sampling programme undertaken at the Haneti Nickel Project

·    1,500 samples analysed at an independent laboratory

·    Results successfully identified a new, previously unknown, exploration target

·    Increasing strike length of previously identified high priority areas

·    Findings to inform further exploration work, including defining a maiden drill programme

Katoro Gold PLC (AIM: KAT), the Tanzanian focused exploration and development company, is pleased to announce the results of the soil sampling programme undertaken at the Haneti Nickel Project ('Haneti' or 'the Project') ('the Results') as previously referred to in the Company's announcement dated 30 January 2019.

The soil sampling programme, aimed at further delineating already identified primary targets, was part of an ongoing exploration programme at the Project.  The Results have reconfirmed, and extended the strike length, of the previously identified high priority ultramafic exploration targets, as well as identified an additional ultramafic target, previously unknown to the Company.

The Results confirm the exploration prospectivity of Haneti and will be used to inform the Company's further exploration programme in 2019, including defining a maiden drill programme. Upon the receipt of the monies from African Battery Metals PLC as referred to in the Company's RNS dated 15 May 2019, the Company is fully funded to undertake the initial exploration activities in this regard.

Louis Coetzee, Executive Chairman of Katoro, said: "The results from the comprehensive soil sampling programme undertaken at Haneti have served to further increase our confidence in the prospectivity of the Project.   Particularly positive, is the identification of a new, previously unknown, target as well as the increase in strike length of known priority targets.   We believe that Haneti has the potential to provide significant value to Katoro and its shareholders, and I look forward to providing updates as we continue to deliver our planned exploration programme." 

**ENDS**

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

For further information please visit www.kibo.energy or contact:

Louis Coetzee	[e-mail]	Katoro Gold plc	Executive Chairman
Richard Tulloch Ritchie Balmer Georgia Langoulant	[phone]	Strand Hanson Limited	Nominated Adviser
Ben Tadd Tom Curran	[phone]	SVS Securities	Broker
Isabel de Salis	[phone]	St Brides Partners Ltd	Investor and Media Relations Adviser

 

END

 

 

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