AIM-listed Katoro Gold is confident that its Haneti project in Tanzania is capable of delivering a number of discrete large-scale exploration and development opportunities.
Tanzania – Louis Coetzee, executive chairman of Katoro Gold commented: “The Haneti project is approximately 5 000 km² in size and represents, a very interesting exploration opportunity and we are developing innovative approaches to capitalise on the value Haneti represents to our business
“Within the boundaries of this project, Katoro have identified precious, base and strategic metal prospectivity and, in the opinion of the Katoro board, Haneti is capable of delivering a number of discrete large-scale exploration and development opportunities.”
Haneti is a polymetallic system with identified potential for nickel (sulphide and laterite), Platinum Group Metals (PGMs), copper, gold, lithium and rare earth elements (REEs). The principle target zone is an 80 km long ultramafic belt with grades from surface sampling of up to 13.6% nickel and 2.33 g/t combined platinum and palladium.
Further information forthcoming
Within the 80 km ultramafic belt is the principle target, Mihanza Hill, where 2015 geophysical work identified significant extensions to nickel sulphide prospective target rock formations and geochemical interpretation has identified prospectivity for chonolith type nickel-copper-PGM mineralisation.
Also, within the Haneti licence area there is identified greenstone gold potential to the west, where there is extensive artisanal gold mining in an area a few kilometres to the east of Shanta Gold’s 0.7 million ounce Singida project.
Furthermore, Haneti has the potential for lithium, tantalum niobium and REE mineralisation demonstrated by host pegmatites in an area where sampling has returned a high-grade sample of 2.6% lithium and strongly anomalous results in niobium and tantalum.
Coetzee added that the company will provide further information about Haneti’s exploration plans over the coming weeks with announcements in respect of nickel-copper-PGM, gold and lithium-rare earth exploration plans.
Katoro has a 75% interest in Haneti. Development of Haneti is being advanced in tandem with its joint venture partner, Power Metal Resources which has the remaining 25% interest in the project.