Katoro Gold PLC - gold & nickel exploration and development company - Says decision made to advance the Haneti nickel platinum group metals project in Tanzania to deep diamond drilling.
Katoro Gold owns 65% of Haneti with the remaining 35% held by Power Metal Resources PLC.
A diamond drill programme is now planned to test for nickel and platinum group metals sulphide mineralisation at depth following the successful completion of the shallow rotary air blast drilling programme at Mihanza Hill and Mwaka Hill and the identification of nickel-copper-magnetite gossanous veins at a new outcrop at Mihanza Hill.
"The latest results provided the confirmation we wanted to take the next step in our exploration strategy for Haneti and to proceed with deep diamond drilling. With the diamond drill programme, we will assess the potential for possible economic nickel sulphide mineralisation at Haneti," says Katoro Executive Chair Louis Coetzee.
Katoro current stock price: 1.54 pence, down 15% on Wednesday
Year-to-date change: down 32%
Power Metal current stock price: 2.14p, down 0.5% on Wednesday
Year-to-date change: down 22%
By Lucy Heming;Â lucyheming@alliancenews.com
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Katoro Gold (KAT)
Power Metal (POW)