Kibo Mining has provided shareholders with an interim operational update of its Haneti Joint Venture Project in Tanzania, in East Africa.
Kibo is a public company registered in Ireland, established in early 2008 to explore and develop mineral deposits in Tanzania, East Africa. It is also listed on the JSE and AIM exchanges. Its Tanzanian Haneti JV Project is also funded by its joint venture partner, Votorantim.
During the first three weeks of work on the Haneti Exploration programme, primary attention was given to undertaking a comprehensive soil geochemical sampling programme over key target areas.
Sampling commenced at the Mwaka hill target with a single sample team on an altered serpentitite body (approx. 2km x 1km) identified from previous exploration. The serpentinite represents metamorphosed ultramafic rocks which are targets for nickel, gold and platinum group metal element (PGE) mineralisation.
Prior sampling at Mwaka identified anomalous nickel and gold grades (93m at 0.4% Ni in trenching and up to over a 1 000 ppb gold in soils) and the current sampling programme is intended to provide more detailed surface geochemical data ahead of the prioritisation of locations for initial drilling.
For the period ending 25 June, a total of 238 samples were collected on Mwaka. A second and possibly a third sampling team will be deployed during July 2013 to cover other priority targets along the Haneti ultramafic complex. The agreed soil sampling method and procedure was confirmed with the JV partners during a Votorantim site visit on 26 June 2013.
The geological mapping programme, as part of the 2013 exploration field programme, commenced with several reconnaissance visits to the main target areas. Two detailed lines were mapped on Mwaka and Mihanza for orientation purposes as well as to confirm historic mapping. First pass visits to Mindii and Zoani hills were
also completed. A total of 76 rock samples were collected for multi-element analyses as part of the mapping programme thus far. First laboratory results are expected from the end of August onwards.
The Kibo’s CEO, Louis Coetze, remarks: The field team has settled in well and we are pleased with the current production rate.”