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Katoro Gold Identifies New Exploration Target At Haneti Nickel Project

LONDON (Alliance News) - Katoro Gold PLC on Monday said it identified a new, previously unknown, ...

Alliance News 20 May, 2019 | 2:13PM
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LONDON (Alliance News) - Katoro Gold PLC on Monday said it identified a new, previously unknown, exploration target at its Haneti Nickel project in Tanzania.

Katoro Gold shares jumped following news of the positive results. The stock was trading up 33% at 1.00 pence per share.

The exploration & development company said that the results of a soil sampling programme, aimed at further delineating already identified primary targets, have reconfirmed and extended the strike length of the previously identified high priority ultramafic exploration targets.

Furthermore, a new ultramafic target, previously unknown to the company, was found.

"The results from the comprehensive soil sampling programme undertaken at Haneti have served to further increase our confidence in the prospectivity of the project," Chair Louis Coetzee said.

He added: "Particularly positive, is the identification of a new, previously unknown, target as well as the increase in strike length of known priority targets. We believe that Haneti has the potential to provide significant value to Katoro and its shareholders, and I look forward to providing updates as we continue to deliver our planned exploration programme."

By Elena Cherubini; elenacherubini@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Katoro Gold PLC 1.05 GBX -4.55 -

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