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Exploration at Kibo's Haneti project to continue

27th January 2015

By: Megan van Wyngaardt

Creamer Media Contributing Editor Online

  

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JOHANNESBURG (miningweekly.com) – Dual-listed Kibo Mining would conduct further exploration at its Haneti nickel project, in central Tanzania, following a positive independent geochemical interpretation report.

"With this new report [in] hand, the case for further exploration and development at Haneti is compelling. We are delighted that the geochemical work undertaken has highlighted the nickel sulphide potential at Haneti and ratified historic exploration work and our own findings,” Kibo Mining CEO Louis Coetzee commented.

The report confirmed the project’s Mihanza area as a robust drill target with the potential to represent the surface expression of a significant nickel/copper/platinum-group-elements-style sulphide deposit at depth. Grades of up to 13% nickel and 2.3 g/t combined platinum and palladium have been previously  reported at Mihanza.

Coetzee added that additional work was under way to review the entire dataset from Haneti to further improve the company’s understanding. “We are now confidently moving forward to enable rapid visible progress at Haneti, for the benefit of the company and our shareholders,” he said.

The geochemical analyses were primarily based on soil and rock sampling results from Kibo's 2013 exploration programme at Haneti. This geochemical study was the first component of desktop-based exploration data analyses that the company was undertaking to extract maximum benefit from available geological, geochemical and geophysical data for the project before it started its next phase of exploration, which would include drilling of priority targets.

Based on the robustness of the Mihanza anomaly, the report recommended continuing expansion and infill sampling over the other prospects and other areas along the Mihanza trend; many of which have  not yet been sampled at an adequate density to allow for the detailed interpretation possible at Mihanza.

“It is worth noting that approximately only 25 km (31%) of the 80 km strike of nickel sulphide prospective Haneti Itiso Ultramafic Complex has been sampled in detail to date,” the company pointed out.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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