Photo by: Bloomberg
JOHANNESBURG (miningweekly.com) – A recent Joint Ore Reserves Committee-compliant resource report on Kibo Mining’s Imweru project, in northern Tanzania, has revealed good resource upside potential, lifting the
total estimated indicated and inferred gold resource at Imweru to 550 000 oz of contained gold or 15-million tonnes at 1.14 g/t of gold.
The study, which incorporated the results of the project’s Phase 1 drilling programme, further reported that 24% of the 426 000 oz newly estimated total gold resource was now categorised in the “higher confidence” indicated category, with the remaining 323 000 oz in the inferred category.
The study also provided an “improved understanding” of the shear-hosted gold mineralisation at Imweru, while Phase 1 drilling highlighted “significant” potential to increase the quantity and quality of the resource.
Additional high-priority gold drill targets were also identified following a review of the company’s extended ground holding in the Geita region.
Kibo Mining CEO Louis Coetzee said on Monday that the independent recognition of high-quality drill targets within the Kibo ground holdings boded well for the company’s strategy to build a significant mineable gold resource inventory in the region.
“This will allow Kibo to implement a focused and specialised exploration campaign on specific targets at Imweru to effectively enhance its resource. We are confident moving into the next phase of the project and its near-term commercialisation,” he commented.