JOHANNESBURG (miningweekly.com) – JSE- and Aim-listed Kibo Mining has started the first phase of drilling at its recently acquired Imweru exploration project, in northern Tanzania.
The Tanzania-focused mineral exploration and development company, which consolidated the Imweru and Lubando exploration projects into its Lake Victoria gold portfolio in August, said the two-month drill programme comprised 750 m of diamond drilling and 2 250 m of reverse circulation drilling in 20 holes at Imweru.
The programme had been designed to further evaluate the gold mineralised zones identified by the previous operators on the project, as well as to make further significant discoveries, CEO Louis Coetzee said in a statement.
Imweru boasted a National Instrument 43-101-compliant inferred gold resource of 629 000 oz.
“Kibo anticipates that the results of the drilling [programme] will enable it to produce a Joint Ore Reserves Committee-compliant resource that will improve the existing resource and resource categorisation, based on the additional geological data from the drilling, as well as the remodelling of the resource, using the current $1 300/oz gold price,” Coetzee said.