Katoro Gold PLC Phase 1 of the Imweru ESIA Completed Successfully (5661Q)
September 13 2017 - 1:01AM
UK Regulatory
TIDMKAT
RNS Number : 5661Q
Katoro Gold PLC
13 September 2017
Katoro Gold plc (Incorporated in England and Wales)
(Registration Number: 9306219)
Share code on AIM: KAT
ISIN: GB00BSNBL022
("Katoro" or "the Company")
13 September 2017
Successful Completion of Phase 1 of the Imweru Environmental and
Social Impact Assessment ("ESIA")
Katoro Gold plc ("Katoro" or the "Company") (AIM: KAT), the
Tanzania focused gold exploration and development company, is
pleased to announce that the Tanzanian National Environmental
Management Council ("TNEMC") has assessed the Company's Imweru
Project Brief for the Imweru ESIA, being the Company's terms of
reference for the execution of the Imweru environmental impact
study, and has now issued a registration letter for the ESIA.
Receipt of the registration letter confirms successful completion
of Phase 1 of the ESIA and permission to continue with Phase 2,
being the establishment of a detailed environmental baseline for
the Imweru project, in preparation for final environmental
certification during Phase 3 of the ESIA. Phase 2 has already
commenced.
Louis Coetzee, Executive Chairman of Katoro commented: "We are
extremely pleased with the sustained momentum and progress on the
Imweru resource development programme. Completion of Phase 1 of the
ESIA was one of the pre-requisite deliverables on the critical path
for the timely submission of the Imweru Mining Right Application,
which is scheduled for submission during October 2017."
Contacts
Louis Coetzee +27 (0) 83 Katoro Gold plc Executive
2606126 Chairman
-------------- ----------- -------------------- ----------
Jon Belliss +44 (0) 20 Beaufort Securities Broker
7382 8300 Limited
-------------- ----------- -------------------- ----------
Richard +44 (0) 20 Strand Hanson Nominated
Tulloch 7409 3494 Limited Adviser
Ritchie
Balmer
Frederick
Twist
-------------- ----------- -------------------- ----------
Katoro Gold - Notes to editors
In May 2017 Katoro acquired the Imweru and Lubando Gold Projects
in Tanzania from Kibo Mining plc for a total consideration of
GBP3.66 million and was admitted to trading on AIM.
Following the acquisition, Katoro owns 100% of the Imweru and
Lubando Projects, 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 posted on its website
www.katorogold.com.
This announcement contains inside information as stipulated
under the Market Abuse Regulations (EU) no. 596/2014 ("MAR").
This information is provided by RNS
The company news service from the London Stock Exchange
END
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