Katoro Gold PLC Imweru Project Update (2645Z)
December 14 2017 - 1:00AM
UK Regulatory
TIDMKAT
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 +27 (0) 83 Katoro Gold Executive Chairman
2606126 plc
Jon Belliss +44 (0) 207 Beaufort Broker
382 8300 Securities
Limited
Richard Tulloch/ +44 (0) 20
Ritchie Balmer/ 7409 3494 Strand Hanson Nominated Adviser
Frederick Limited
Twist
Isabel de +44 (0) 207 St Brides Investor and
Salis / Priit 236 1177 Partners Media Relations
Piip Ltd 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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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