Katoro Gold PLC Haneti Diamond Drill Programme Mobilizes (9880X)
January 11 2022 - 1:00AM
UK Regulatory
TIDMKAT
RNS Number : 9880X
Katoro Gold PLC
11 January 2022
Katoro Gold plc (Incorporated in England and Wales )
( Registration Number: 9306219)
Share code on AIM: KAT
ISIN: GB00BSNBL022
("Katoro" or "the Company")
11 January 2022
Katoro Gold PLC ('Katoro' or the 'Company')
Haneti Diamond Drill Programme Mobilizes
Katoro Gold PLC (AIM: KAT), the gold and nickel exploration and
development company, is pleased to announce that mobilization for
the Haneti diamond drill programme has commenced.
On the 8(th) November 2021, the Company announced that it will
be conducting a diamond drill programme on its Haneti Nickel
project, in which the Company holds 65% ownership interest with 35%
held by Power Metal Resources plc (LON: POW). Following the results
received from the RAB drill programme that was completed in early
2021, it is expected that mobilization will be completed on or
around the 17(th) January 2022. Drilling on the 1,000-meter
programme to commence on or around the 20(th) January 2022.
Additional information as well as a map highlighting the planned
locations for the 2022 diamond drilling programme can be found on
slide 11 on the following link:
https://katorogold.com/wp-content/uploads/2021/05/HANETI-Pres-21_v2.0_040521-1.pdf
.
Katoro Executive Chairman, Louis Coetzee, said: "We are very
pleased to be starting off the new year on a good note for the
Haneti project. Commencing with the next phase of the diamond drill
programme marks a milestone in our exploration strategy. Subject to
the results from the diamond programme, we look forward to
unlocking even more positive developments.
"In the process of planning and preparing for the abovementioned
drill programme, the Company also successfully renewed all the
prospecting licences that cover the Haneti project area. This means
that the Haneti project now has another 7 years active life. This
will also give us an opportunity for further exploration/
development of the Haneti project area."
HIGHLIGHTS:
- The planned 1,000m drill programme consists of three deep
diamond core targeting magmatic nickel (Ni) copper (Cu) platinum
group element (PGE) sulphide mineralisation. The work will
constitute the first diamond drilling conducted out by the JV
within the Haneti Project area.
- The planned drillholes are designed to provide a full
intersection through the various ultramafic sequences to produce
fresh rock samples for detailed geochemical and petrographic
analysis.
- Two diamond core holes are planned at the Mwaka Target for a
combined total of approximately 505m. The holes have current
planned depths of 264m and 241m and are designed to test two
discrete high-priority conductors which were identified during the
2012 electromagnetic ("EM") geophysics survey.
- A single 495m deep diamond core drill hole is planned at the
Mihanza Target. The Mihanza target was subject to a shallow Rotary
Air Blast ("RAB") drill programme that was completed in early 2021;
the programme confirmed the presence of near-surface Ni-Cu-PGE
sulphide mineralisation. The Mihanza Target is centred around
coincident magnetic high geophysical and nickel geochemical
anomalies. Detailed modelling and inversion analysis of the
airborne magnetic data completed in 2014 identified a large plug
shaped magnetic anomaly (interpreted to represent an ultramafic
body) which lies at roughly 300m below surface. This plug shaped
body has never been drill tested, and the drill hole planned at
Mihanza is specifically designed to intersect the anomaly at
depth.
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 louisc@katorogold.com Katoro Gold plc Executive Chairman
Bhavesh Patel +44 20 3440 6800 RFC Ambrian Limited Nominated Adviser
Andrew Thomson
Nick Emmerson +44 (0) 1483 413 SI Capital Ltd Broker
Sam Lomanto 500
Isabel de Salis +44 (0) 20 7236 St Brides Partners Investor and Media
Oonagh Reidy 1177 Ltd Relations Adviser
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END
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