Results from a soil sampling programme at Katoro Gold’s Haneti nickel project, in Tanzania, have reconfirmed and extended the strike length of the previously identified high-priority ultramafic exploration targets, as well as identified an additional ultramafic target, which was previously unknown to the Aim-listed company.
The soil sampling programme, aimed at further delineating already identified primary targets, was part of an ongoing exploration programme.
According to the company, the results confirm the exploration prospectivity of Haneti and will be used to inform the company's further exploration programme for this year, including defining a maiden drill programme.
Upon the receipt of the monies from African Battery Metals (ABM), Katoro is fully funded to undertake the initial exploration activities in this regard, it said in a statement on Monday.
Commenting on the results from the comprehensive soil sampling programme, Katoro executive chairperson Louis Coetzee said the results served to further increase the company’s confidence in the prospectivity of the project.
“We believe that Haneti has the potential to provide significant value to Katoro and its shareholders.”
ABM last week entered into an agreement with Katoro to earn-in to the Haneti project.