Kibo Mining has reported positive results from all Phase 1 drilling results from its Imweru project in northern Tanzania. The drill programme which was completed in late November 2013, comprised 21 drill holes for a combined total of 3,265 m of reverse circulation (RC) and diamond drilling (DD). Gold mineralisation was intersected in 19 of the 21 holes drilled.
New mineralised zones were intersected which have not been incorporated in the previous resource estimate and should contribute to a n increase in the updated resource estimate, Kibo mining said in a statement. Mineralisation remains open down dip and along strike, and Kibo Mining is now awaiting completion of an independent update of the existing resource statement , prior to carrying out a Phase 2 drill programme.
“The drill results from Imweru exceed our expectations and confirm not just the continuation of the Imweru mineralised zones between previously drilled locations but new mineralised zones at depth. These results improved our confidence levels in the potential to significantly increase both the quality and quantity of the current resource on the project. We now look forward to producing an updated JORC-compliant resource estimate before proceeding to the next development phase of the project,” said Louis Coetzee, CEO of Kibo.