AIM-listed gold and nickel exploration company Katoro Gold has announced details of the planned confirmatory drilling programme targeting nickel sulphides at its Haneti nickel project in Tanzania.
Tanzania – Haneti covers an area of approximately 5 000 km2 in central Tanzania and comprises tenements prospective for nickel, platinum-group-elements and gold. Katoro Gold currently holds a 75% interest in the project with a 25% interest held by JV partner Power Metal Resources.
Three preliminary target areas have been selected for exploratory diamond drilling; Milhanza Hill; Mwaka Hill; and Igari Hill, based on the recommendations of the 2012 AEM survey, the detailed field programme undertaken in 2013 and further supplementary exploration findings.
In order to maximise the chances of intersecting mineralisation, the diamond drilling will be preceded by a 20 hole programme of confirmatory rotary air-blast (RAB) drilling.
The RAB drilling will seek to verify the existence of near surface mineralisation whilst increasing the geological understanding such that the orientation and the meterage of the follow-up diamond drill holes can be optimised to confirm the scale of potential massive sulphide mineralisation.
The exact number and meterage of diamond drill holes will be refined by the RAB drill studies however, the initial plan is for a minimum of three, 300 m deep diamond holes.
Turning point for project
Louis Coetzee, Chairman of Katoro Gold commented: “The Haneti project, in the board’s view, represents a very interesting exploration opportunity and we are very excited to embark on the first exploration drill programme during a time where we see renewed interest and excitement in nickel.
“Our first drill programme will aim to enhance our existing understanding of the geological characteristics of the project and to potentially identify the existence of nickel sulphides.
“Preparations are currently underway for the launch of the drill programme and we look forward to announcing mobilisation, which will not only mark a historic milestone in the execution of the Haneti exploration programme but also an exciting point for the joint venture with Power Metals.”